3 Tips for Reducing Employee Turnover Using Predictive Hiring
Are you tired of dealing with unproductive, demotivated, and poor-performing employees? Employee turnover can be costly, with studies showing that it can cost up to 33% of a worker’s annual salary to replace an employee. A low retention rate can also waste time and money. As a manager or supervisor, it's important to make the right hiring decisions to avoid these issues.
Here are three tips for reducing employee turnover using predictive hiring:
Don't settle for just anyone: Rushing the hiring process can lead to more problems than not having someone at all. It's important to focus on finding a candidate who has the right skills and personality to benefit the team. Using predictive hiring data can help you objectively determine whether a candidate's natural personality strengths and soft skills will fit both the job role and the company culture. Providing a pre-hire assessment, such as the PeopleKeys 4D Hiring Report, to candidates and leveraging occupational benchmarks can help you quickly determine whether a candidate is a good fit.
Use referrals to gain more insight: Referrals can provide valuable information about a candidate's past performance. When you ask for referrals and follow through with contacting them, you can gain insight into how a prospective employee performed in the past. A referral letter from a previous employer or phone call to a reference provided by the candidate can provide information on a person’s reputation at a company. This can help you understand if an employee drove success or decreased a company’s success rate.
Check their emotional intelligence: Emotional intelligence (EQ) is highly valued in the workplace because it makes it easier for team members to work together. Understanding a candidate's emotional intelligence can give you a greater perspective of who they are. Emotional intelligence has five key components: self-awareness, self-regulation, motivation, empathy, and social skills. The PeopleKeys 4D assessment increases self-awareness as a first step and can be used as predictive hiring information. This can help you and the candidate enhance your ability to understand others empathetically and communicate better in alignment with one’s motivation.
Reducing employee turnover is essential for the success of any company. By using predictive hiring, you can make better hiring decisions that align with the job role and the company culture. PeopleKeys is committed to helping recruiters, hiring managers, and business leaders find the right people for their teams.