It’s easy to look at your open positions and high turnover rates, and contemplate what went wrong during the recruiting process. Oftentimes, however, it’s not a recruiting issue, but rather a retention issue your company is dealing with.
How do you know if your company is experiencing retention issues vs. recruiting issues? One good indicator that your company is experiencing retention issues is by looking at the turnover rates in the last year. A 2015 Compdata Survey found that the average turnover rate was 19.2 percent. If your percentage is much higher than that, start looking into how you can better retain your staff by hiring the right candidates initially.
Exact Recruiting, a Simione Talent SolutionTM, teamed up with Kronos in developing a white paper, “Is Your Recruiting Problem Really a Retention Problem?” Here are a few key considerations:
One of the main reasons employees leave their jobs is due to an employee having a poor relationship with a boss. Positive manager-employee relationships are essential to retaining staff, specifically for the middle managers that spend the most time with individuals.
In order to determine whether employees view their relationships with their supervisors as positive or negative, companies should provide third-party, anonymous Satisfaction Surveys annually. At Exact Recruiting, we provide companies with targeted surveys specifically for the Home Care and Hospice industry nationwide, so you can rest assured surveys obtain the very best data.
Engaged employees are passionate about their work and actively strive to further the reputation, interests, and mission of the organization. Studies show that the vast majority is not engaged at work despite the importance of the matter.
Only 34.8 percent of employees say they feel engaged at work (Gallup).
Engaged employees are less likely to leave a job, so support employees by creating a positive culture of engagement through self-service tools such as items that easily access their time and attendance, scheduling, HR information, including their personal information, pay statements and W-2 forms. Through these tools, employees obtain greater self-sufficiency and control of the decisions that affect their everyday lives.
51 percent of all employees are either watching the job market or are actively looking for a new job, according to research by Gallup.
Another way to better motivate employees is by offering competitive rates. As a general rule of thumb, raising compensation above the market average to about 105 percent maintains a competitive advantage. But money isn’t the only way to stay competitive; providing growth and development opportunities can often offer more potential for employees than a promotion. Ongoing training, therefore, is key to having an engaged and motivated staff.
Lastly, in order to improve employee motivation, studies show that instituting flexible work hours and opportunities is essential to retention success. A FlexJobs survey indicated that 82 percent of millennials would be more loyal to their employers if they had flexible work options. This is true also for 81 percent of Gen Xers and 79 percent of baby boomers.
When all of the above is successfully played out, your employees will be engaged with your company and their work, motivated to perform their best and encouraged to stay with the company instead of continuously looking at the job market for other opportunities. At Exact Recruiting, a Simione Talent SolutionTM, we are committed to assisting companies in the Home Care and Hospice industry with hiring the exact staff you are looking for the first time.
We have vetted thousands of Home Care and Hospice professionals for interim or permanent placement at every level, from C-suite to frontline staff. Exact Recruiting focuses on providing the right talent to help clients achieve more and works with them to develop strategies to retain that talent.
To discuss staff retention further and in person, visit the Simione Healthcare booth (#649/744) at the NAHC 2017 Home Care and Hospice Conference and Expo October 15-17 in Long Beach, California. Learn more »