Good recruiting leads to better retention. The two are so closely linked that it’s hard to find a mention of one without the other. But if you’re buying into the biggest myths about recruiting, you’re going to find it tough to retain top talent – and vice versa.
Here are five of the biggest myths about recruiting and retention, and how to “think differently” about the facts:
It’s all about the money.
When employees leave a job for a different company, it’s because the pay was better elsewhere, right?
Not always. A recent survey by HR Bamboo found that “money” ranked only third on the list of reasons employees leave their companies. Dissatisfaction with company culture and the desire to keep moving forward on the career ladder were bigger “draws” than salary. Competitive salaries matter, but culture and career opportunities matter more.
It’s no use competing for top talent against big-name companies.
This myth is related to the idea that “it’s all about the money.” If you can’t pay what the big companies pay, you can’t draw in the big talent – or so the myth goes.
In fact, offering nontraditional benefits may cost a small company little to no money, but create big incentives for talented workers. Flex time and telecommuting are highly prized in a workforce that values autonomy and strives to find the time to work on inspired projects. Free gym memberships improve health and motivation, and mentoring programs keep employees engaged and develop their skills. Perks like these can keep your best people happy and focused without breaking the bank.
Employees are easy to replace.
When an employee leaves, well, there are always other fish in the sea, aren’t there?
Few employees are truly irreplaceable – but the cost of “casting” into the sea of candidates once again is higher than merely placing a want ad. An employee leaving creates a gap in your company’s skill base, productivity, and motivation as other employees scramble to provide a temporary cover. Meanwhile, time spent finding a new person is time spent away from HR’s other duties.
Low turnover means your employees love their jobs.
If people don’t leave, they must love their jobs, right? The most compelling thing about this myth is that it’s half-true – but only half.
Low turnover means one of two things. Perhaps your people really do love their jobs, with all the motivation and productivity that entails. Or perhaps you’ve lost all your really “driven” employees, and the ones who remain stay only because it’s more work to find a new job than it is to show up to this one.
Nonmotivated employees create a huge drag on your bottom line, and they don’t do much to uplift company culture or morale, either. Use tools like surveys to gauge which mix you have, and talk to your recruiter for advice on improving a slow situation.
You can’t control turnover rates.
Employees leave for all kinds of reasons. It’s not the company’s fault and there’s nothing the company can do to control it – say leaders who don’t want to bother.
Companies that invest in employee development, ask for employee feedback and act on it, publicly acknowledge good work, and actively build their company’s culture and hiring brand find that they have a great deal of control over recruiting and retention success. Your staffing firm can help.
At Burnett’s Staffing, our experienced recruiters can help you bust the biggest recruiting myths and find the right people in less time. If you’re looking for top talent in the Dallas-Fort Worth area, contact us today.