Reduce Employee Turnover By Keeping Them Engaged

Employee turnover is expensive, especially amongst the sales department where qu

otas and revenue goals must be met. The average cost of recruiting, hiring and t
raining an employee is typically 150% of their annual salary. That includes seve
rance pay, vacation time, recruiting, new hire paperwork, resume reviews, interv
iews and new hire orientation and training. According to Gallup, some of the top
reasons employees leave their jobs include:
* Their direct supervisor
* Theyre not a good fit for the job
* They have less than dedicated coworkers
* They feel the pay and benefits are inadequate
* A lack of relationship or connection with the organization and management
Add the stress of trying to meet quotas into the mix and sales reps are even mor
e susceptible to leaving their roles. Here are some of our recommended strategie
s to help keep your reps engaged.
Be strategic and meticulous when hiring.Reduce Employee Turnover By Keeping Them
Engaged
The first step for avoiding turnover is to hire the right people in the first pl
ace. Instead of soliciting resumes, start with a pre-screening and a test to hel
p reduce your recruiters loads. Testing helps eliminate employee prospects who ma
y not be a good fit for your organization (or whose resume may have been exagger
ated), this helps you narrow down a more qualified prospect pool. This reduces c
osts and saves the time of recruiters and interviewing managers alike.
Improve Your Training Process.
A recent workforce survey found that only 66% of companies train their new hires
for their jobs. If your employees are prepared for their jobs, theyre much more
likely to engage with and succeed in your companys goals.
Set up compensation and reward packages.
An article by Oracle states that over 90% of performance management systems arent
coupled with a compensation system. Rewarding high performers for is crucial; t
hey generate up to 67% more revenue. Offer an incentive reward program in additi
on to a competitive compensation package and you drive their motivation to achie
ve ultimate success.
Don t leave out personal recognition-it goes a long way.
To ensure your compensation programs are implemented correctly, managers should
conduct routine one on ones so they can assess employee performance, as well as ass
ess any trouble-like red flags that signal possible turnover. Dont forget acknowl
edgement employee accomplishments. Simple emails, public recognition, and advoca
ting for them by presenting their accomplishments to senior management will go a
long way. One on ones are crucial to strengthening the employee-manager bond, w
hich happens to be one of the top five reasons employees leave their jobs.
Conduct and on insights from exit interviews.
Employees usually feel freer to be more candid and honest during exit interviews
, so gaining insights from them on ways they feel the organization can be improv
ed is crucial and implementing the needed improvements is imperative.
We hope you find the information weve shared valuable.
By: Steve Damerow
CEO, Incentive Solutions, Inc.