Controlling Employee Turnover and Addressing Disengagement with a Complete System
“…retention of top talent is impacted most by the ability to provide meaningful work and a culture where people are passionate about what they do …”
–Matthew W. Schuyler, Hilton’s CHRO
Turnover alone may be costing millions, but what about the employees you still have? Is their disengagement costing even more?
Fortunately, turnover and disengagement stem from job fit, and you can reduce costs associated with both by using a complete hiring system. With a process that looks at hiring from beginning to end, you can consider the job, the talent, professional development and performance management.
However, with reduced budgets and overwhelming responses to job ads, many companies are finding themselves skipping a system all together. Unfortunately, a move like comes with a hefty cost, as doing nothing to ensure job fit will cost you more than implementing a complete hiring system to start controlling turnover and disengagement costs now.
With a solution for future turnover and disengagement costs, let’s turn our focus to the disengaged employees on your payroll now. Can you determine the underlying issue? It may be decreased morale, lack of direction, little job satisfaction or no motivation. Whatever the case, you need to start by using the same complete system. Assess job fit by comparing the job and talent, ensure each person is on a professional development plan, and then manage their performance with specific motivation, communication and responsibilities that fit their unique personal style and skills.
A dip in the economy could mean you lose track of the very asset that will turn your company around. Remember, now is the time to invest in your people.
HRE Jan/Feb 2011