The recruitment landscape is changing, brought by a paradigm shift on what employees want from companies. Hence, employee retention has become a vital issue that many organizations are trying to address. Experts see that employee turnover is likely to increase in the upcoming years. A study showed that more than 37 million American employees would quit their jobs in 2022, which is 20% higher than the pre-pandemic level.
Azaan Subhani, Managing Director of Marlin Strafe, said companies must prioritize employee retention. “You see the big shift that employees are taking right now. Employees are taking back the power in the world. Therefore, it is crucial to talk about how to keep your employees,” Azaan said.
Marlin Strafe is a company that helps many businesses find the best talents. He and his team use technology to connect companies and organizations with modern unicorns.
Why Should You Improve Your Employee Retention?
Azaan said that employee retention remains a significant factor in achieving business success. “It would be easier to achieve your business goals with the right number of employees,” he added.
He said that people are the most significant resources of any organization. A low employee retention rate can hurt the productivity and performance of the organization. Moreover, lower employee retention could increase your operational expenses since you will be spending more money on hiring new talents.
He shared three reasons why it is essential to improve employee retention:
- It reduces recruitment costs.
Azaan said hiring the wrong candidate can cost a business six figures in lost revenue, commercial downtime, and business disruption.
“In many cases, candidates look good on paper, so you hire them, but after four months, they leave the company. You have no option but to repeat the recruitment process and pay the recruiting agency a hefty fee. If you have to repeat the process every four months to fill the role, your recruitment costs will skyrocket,” he said.
He pointed out that getting the right candidate to fill the role is essential because the right candidate will still be in that role after a year.
- It boosts productivity.
“Having enough people means everything for your business. It directly impacts your company’s productivity,” Azaan said.
He added that if you have high employee turnover, you will repeat the recruitment process more often. “Filling up vacant roles usually takes time. It disrupts your business operation, especially since that role is crucial to your daily operations. Commercial downtime is not good for any business,” he continued.
Azaan said that getting the right candidate can boost productivity because that candidate will stay in your company long term.
- It improves team morale.
Azaan shared that candidates sometimes leave a company in less than one year because they struggle to fit into the company culture. “They might have the best academic and work background among the shortlisted candidates, but most old-fashioned recruiters do not consider if the candidate’s values match the company’s culture,” he added.
He noted that if new hires leave the company every four months, it affects the team morale. “Hence, hiring the candidate who is a strong fit to your culture is vital,” he added.
Strafe Search® Is Key To Employee Retention
Azaan said the best way to improve employee retention is by hiring the right people using Strafe Search®. “Strafe Search® is a tool that we develop to ensure that our clients will never have bad hires again,” he said.
He emphasized that they have a refined research process that can ensure that candidates will still be in employment 12 months later, 96% of the time. “We remove the frustration, the risk, and the unpredictability of the recruitment process through a scientific approach to recruitment. We bridge the gap between employer and employee using technology,” he continued.
Azaan said their process involves psychometric analysis, comprehensive market search, candidate-led application, and behavioral analysis to get the best candidates to fill the roles. Azaan’s team will conduct an in-depth “market-mapping” to identify all potential target candidates currently working in the industry.
“We spend considerable time on our pre-screening process. You will only receive four to six candidates perfectly suited to the role. It saves you time because it speeds up the decision-making process,” he added.
He noted that if a candidate leaves within one month, they offer a 100% money-back guarantee. “If a candidate leaves within 12 months, we offer a free replacement service. That’s how much confidence we have in our methodology. Our clients have experienced a considerably higher retention rate with Strafe Search®,” Azaan said.
Recalibrating Your Hiring Process
Azaan invites organizations to use Strafe Search®. It is a tool proven to land suitable candidates and increase their retention rate. Since 2020, he said that the platform has played an essential role in the hiring process of numerous companies and helped them find the right candidate who will stay long-term in their companies.
“We have the right tools to eliminate all the questions and the gray areas in the hiring process. And make it a true partnership between HR and the direct operations,” Azaan said.
Why suffer from the high costs of employee turnover when you can improve employee retention through technology? Visit https://marlinstrafe.com/ and drop them a message.
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