So you expect that not all of your newest hires will be with you for 20 years. But how do you know if too many are jumping ship soon after filling out that I-9.?
With the toll turnover takes on a company, you hope most hiring decisions will stick. But you also expect some people to fall out early.
The key is to determine when too many are leaving.
Make sure someone is calculating –and monitoring — your company’s “voluntary separation rates” for all levels of employees.
To do that, take the number of separations for staffers who’ve been with your organization for less than a year and divide it by the number of staff departures altogether.
Then compare your rates against these recent benchmarks:
If your percentages are significantly higher than these, you could have a problem on one of two fronts worth jumping on ASAP:
- Mistakes are being made in your hiring processes.
- People aren’t getting the proper training, supervision or attention once they get on your payroll.