Hire the Right Person and Keep Them Long Term

Turnover is one of the biggest money pits in business, and spending your time and capital to train an employee who leaves shortly afterward – or worse, becomes terminated for their failure or misconduct – can destroy even the most successful business. There is no way to ensure that you wo not end up losing an employee, good or bad, but there are certain techniques you can employ to help you find the right employee, and to keep them once they are on board.

When it comes to interviewing and hiring a potential employee, there are a few important things to keep in mind. When choosing which candidate to hire, you should be looking for the one with the most knowledge about your company and drive to be successful. Of course this is a much easier thing to say than to actually see in a potential hire, but with a careful eye and the right questions, you can begin to realize who might be a valuable asset, and who is just here for the paycheck until something better comes their way.

A strong resume is not always an indicator of success. More important are the actual qualities of your candidate, which you can only judge by getting to know them on a deeper level. Scheduling multiple interviews can be very helpful in this process, as hiring someone after only the first interview gives you very little knowledge about how they will actually perform. If they can show they have the drive to show up again and truly want the job, and can successfully pass another interview that they ostensibly had less time to plan for, then you have found a much stronger candidate.

Now, when you have hired this “right” employee, how can you ensure that you will keep them for the long haul? The first and most important step is to value their work. Make sure they know that they are an essential part of your company, and praise them both verbally and through consistent, deserved raises. If your employee knows they are an asset and would be such at a competitor’s company, then keeping their wages competitive will mitigate their desire to move on.

As well, make sure your employee is never stagnant. Employees can become tired of their job, and those who are true assets can and will move on. Make sure their time is valued and used properly, and that they truly feel they are doing something to not only benefit the company, but themselves.

There’s no surefire way to guarantee a successful hire, or that that hire will stay with your company through thick and thin. But keeping a few of these tips in mind can definitely increase your chances, and help to make sure your turnover rate does not get out of control.