How to Recruit & Retain Employees
Your employees are your organization’s most valuable assets. They bring the knowledge, experience, and commitment to their roles that make it possible for your organization to accomplish its goals. This is what makes recruiting and retaining employees such a critical aspect of HR. As you find the right people to fill the roles at your organization (and thrive in those roles) and you’re able to provide a great employment experience that encourages those employees to stay with your organization, you can experience the stability you need to pursue long-term growth goals.
The following document, is basically a list of things you should have done as an employer to avoid the actual need for the exit interview...
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What is employee recruitment?
Employee recruitment is the process of working to fill an open role at your organization. It involves everything from writing thorough job descriptions to conducting interviews and extending job offers.
It takes 43 days to fill an open position, and on average, a job vacancy costs a company $98 every day.
On average, top candidates are on the job market for only 10 days.
70% of job seekers want to know their potential salary range in the first message they receive from a recruiter.
A strong employer brand reduces the cost of recruiting by 43%.
At least 72% of employers find it challenging to hire skilled employees.
What is employee retention?
Employee retention refers to your ability as an employer to retain or keep your employees working for you over time. To retain your employees, you have to ensure that their working experience at your organization is positive and personally fulfilling.
Employees who have solid work-life balance are 10% more likely to stay with their organization.
Employees who feel their organization has a strong sense of purpose are 27% more likely to stay at that organization.
93% of employees would stay with their employer longer if the organization invested in their professional growth.
Employees who are engaged in their work are 67% less likely to leave their jobs.
Organizations that offer remote work options have 25% lower turnover than companies that don’t.
So, there you have it, food and beverage costs are only one area where you can be loosing money without even realising it. But it's not just about the cost of training, recruiting and turnover, it's also about the public perception of your business. In the circle of hospitality it doesn't take long for a bad employer's reputation to get around, further damaging your ability to acquire quality staff.
It's really not rocket science. I've said it before, "manage things and lead people", not the other way around. When you encourage, empower and reward good performance, you keep good quality employees, and you get to have a life.
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Cheers, and have a great week!