In the defense industry, the recruiting and onboarding process can take several months. It costs a lot of money to find a quality candidate and train them. With that knowledge, it is crucial that you do what you can to reduce turnover and increase retention rates. Here are a few tips that will help.
Maintain Competitive Salaries and Benefits
You will attract and retain top talent when you offer competitive salary and benefits packages. Candidates still consider salary and other benefits to be one of the most important deciding factors when they take a new job. Similarly, many employees quote salary and benefits as the reason for leaving their jobs as well. If you don’t maintain regular pay increases and competitive salaries, your turnover rates will likely increase.
Learn what other employers in the industry are offering and provide something comparable. Take note of any non-traditional benefits being offered as well. This may include paid mental health days, financial counseling, and health savings accounts. Having this information will help you identify what candidates in the industry are looking for from their employers.
Be Effective With Your Onboarding and Hiring Processes
Many employees lose interest in a job during the onboarding process if it is not effective or engaging. When you don’t have an effective process, the company comes across as disorganized. It may also make the new hire feel like you don’t value their time. You lose their interest before they’ve even gotten started.
Provide a Healthy Work-Life Balance
Work-life balance can make a huge difference in employee retention. Consider the ways you can help facilitate a healthier balance for your staff. If flexible scheduling or remote work is possible, offer it to your employees. You should also make it easy for them to request time off, paid and unpaid. Your staff will appreciate the work-life balance their job with your company provides and want to continue working there.
Recognize a Job Well Done
A little employee appreciation can go a long way. When you take the time to recognize top performers, they will continue to do their best on the job. Because their efforts don’t go unnoticed, they will continue to feel motivated and engaged in their position. This will prevent them from leaving the company and improve your retention rates over time.
Hire the Right People in the First Place
Finally, you can reduce turnover by hiring the right people. Working with a staffing agency can help you pinpoint top talent in your industry. Candidates placed through a firm like the Staffing Resource Group have already been thoroughly vetted. We perform background checks, communicate with references, and ensure each candidate is a good cultural fit before introducing them to an employer.
Discovering your next new hire through an agency like ours can help you reduce turnover because each candidate placed by our team will be a good fit. More importantly, we specialize in working with defense contractors and employers. Contact the Staffing Resource Group to learn more about how we can assist your company with its hiring needs.