Of course, you need to hire the right employees, with the right qualifications, but you also have to hire for the long-term.
Why just hire a warm body, when you can hire for loyalty?
Research shows that nearly one-third of employees is thinking of changing jobs in the next year. When you factor in Millennials and Generation-Y—employees born after the late 1980s—the numbers get significantly higher.
As the global economy (slowly) improves, optimism about the future gives more workers a reason to consider jumping ship.
How do companies fight this feeling of unease in the workforce? The best way to combat rising turnover rates is by focusing recruitment efforts to hire candidates with the most valuable asset—loyalty.
A process should be developed (from the ground up, if necessary) to hire for long-term loyalty as a primary goal.
Five key recruiting tips to hire for loyalty, not just a warm body:
Have a referral program
This is the most effective way to recruit for loyalty. Candidates referred by friends, and other existing employees have a retention rate three times higher than from job boards and other sources. HR professionals take referrals as the highest quality candidates, with fewer problems and chances for termination for poor performance.
Describe the job accurately
Job descriptions, testimonials, videos and the like should provide the most accurate impression of the pros and cons of the job. Delivering practical positive (and negative) aspects of a position will have candidates come in to the process with eyes wide open. They know what to expect, so they are not disillusioned—and eventually dissatisfied—once they start work.
Make sure they are a strong cultural fit
The most successful recruitment strategy is one that values a match for the corporate culture. Each department where the environment fits the company’s cultural goals can reduce turnover by as much as one-third.
Establish effective onboarding
Loyalty is more than a character trait. Onboarding is the best opening a company has to develop a devoted employee for the long-term. Encourage a company wide effort to improve the onboarding process. Use the introductory stage to get a new hire feel a part of the “family” and not someone forced to “sink or swim.”
Consider trial periods
Both employers and new hires can benefit from a trial period, as a way to “test drive” each other. A 90-day probationary phase can help weed out those who are not expecting to make it for the long haul. You might lose as much as a quarter of new hires, but those who stay will be your most dedicated team members.
Do you have a way to recruit for loyalty? Let us know by joining the conversation in the comments below!