Category Archives: Business

How to Save Your Company Thousands of Dollars by Making Better Hiring Decisions

You know that employee turnover is costly. You also know that it is disruptive to the workforce, frustrating to managers and time-consuming for HR.

These statistics may still surprise you:

  • 31% of people have quit a job within the first six months
  • 22% of turnover occurs in the first 45 days of employment
  • 46% of new employees washout in the first 18 months

One great way to lower your employee turnover rate is to make sure that you hire the right employees for the right jobs from the get-go.

So how do you do this? Deploying these two customer surveys are a huge step in the right direction.

Step 1: Employee Feedback Surveys

The first thing you need to do is deeply understand each role within your organization. What better way to do that than to reach out to the employees that are currently in each role?

You already know that effective employee feedback surveys help your company make better decisions and increase employee engagement. But they are also helpful to get a sense of roles, responsibilities, gaps and opportunities within each department.

As Paul Gordon was quoted,  you get honest feedback from the people who do those jobs every day, you may be surprised to discover you have to re-examine your beliefs and assumptions about the roles you are hiring for. This will help you make better hiring decisions for each role.

Step 2: Employee Entry Surveys

While most companies employ some kind of employee feedback survey, a surprising number of companies don’t use entry surveys. Those who don’t are missing a huge opportunity to avoid hiring the wrong people!

Survey candidates at the interview stage to make sure that they are a good fit for the role before you hire. Use the data you gathered from your employee feedback survey to create an entry survey that asks key questions regarding the role the candidate is interviewing for.

This entry survey has the added benefit of helping you reduce recruitment time and save on training costs.

Two Surveys to Save You

Using these two surveys – employee feedback and entry surveys – will help you avoid the cost of hiring the wrong person. You’ll see a drop in employee turnover, which will save your company thousands of dollars in recruitment, training and replacement costs.