Attracting talent to your organization is only part of a successful recruiting strategy. In order for a new hire to be deemed successful, you also need to retain them, hopefully for the long term.
Many companies are struggling with keeping their top employees right now. There are a lot of opportunities for skilled individuals, and many are exploring what is out there for them.
As an executive search firm, we are often approached by organizations when they start to have issues with employee turnover and retention. They typically have the same objective—to put a stop to employee turnover right now.
Depending on your current recruiting approach, there may be things you can do over time to put a halt to your retention issues. And there may be some things you can do right now to reduce employee turnover this quarter.
Here’s what you can do:
1. Figure out what is causing your employees to leave
There is always a reason why. There may be multiple reasons why employees are choosing to quit. If you want to put a stop to your retention issues, you first need to understand the root cause of your turnover issues. The main issue could be a lot of things – compensation, issues with management, growth opportunities, work-life balance and more.
2. Target the right people
Are you hiring the right people? Probably not, if they are not sticking around for very long. It’s usually a sign you have an issue with some part of your hiring strategy. Perhaps your job description is attracting the wrong types of candidates. Or maybe your hiring process gives candidates an incorrect assumption about your company culture or how things operate. Reviewing your job descriptions, interview questions, and overall hiring process can help you find areas to improve.
3. Hire a recruitment agency
It can be challenging to uncover your employee turnover issues when you are too close to the situation. You can often uncover a lot of new insights and perspectives by having a third party take a look at your recruiting process. You may be making a mistake you don’t even realize you are making. Recruiters are experts in all things related to hiring. Getting some advice from an expert could be just the thing you need.
Get more retention tips from our executive search firm
IQ PARTNERS is an Executive Search & Recruitment firm supporting clients across the country. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Executive Search / Board & C-Suite, Technology, Media, Digital & Marketing, Accounting & Finance, Financial Services & Insurance, Cannabis, Startup, Data Science, Consumer, eCommerce & Retail, Operations & HR, Manufacturing, Supply Chain & Engineering, Legal & Professional Services, Pharmaceutical & Life Sciences, Non-Profit & Sustainability, and Sales. Click here to view current job openings and to register with us.