Every business experiences employee turnover. Employees come and go for a variety of reasons and it can prove costly to find and train replacements. Typically a symptom of a deeper organisational issue, a persistently high turnover rate can cause strain on even the most robust of businesses.
So, what can you do to reduce your employee turnover rate and to attract candidates who are willing to stay for the long haul? Providing a clear path for career progression is a good place to start.
Career Stagnation: A Key Factor That Drives Turnover
Despite being a main cause of employee turnover, career stagnation is repeatedly overlooked by employers. Workers being allowed to stagnate in their current role contributes to a lack of awareness regarding their value in the workplace which can have a knock-on effect on job satisfaction, achievements, and length of tenure in an organisation.
According to Harvard Business Review, “even after controlling for pay, industry, job title, and many other factors, we find workers who stay longer in the same job without a title change are significantly more likely to leave for another company for the next step in their career.” More often than not, employees want to increase their skills and knowledge in order to move up the career ladder but they lack the motivation to do so without a sense of direction or purpose.
How To Leverage Company Career Paths to Attract Committed Talent
When evaluating different job offers, candidates not only consider the salaries offered, but also the career trajectories that these jobs may bring. Consequently, businesses that advertise potential opportunities for career advancement, internal promotion and training and development are more likely to attract job hunters who are thinking long-term.
There are various points to consider when outlining a career path to a candidate. How does an entry-level employee progress through the company? What horizontal or lateral career moves are necessary? What does your business offer in terms of training to support vertical career growth? Keep in mind that there may not be a path that connects each role to an advanced role and use this as an opportunity to emphasise the strength of your human resources management by detailing a unique path of progression for every individual.
“Employee turnover can’t be completely eliminated. But, you can reduce it by providing a workplace where employees want to stay.”
Committed candidates are always in high-demand but, by offering candidates a projected career path, you can help win them for your team. At Marmion, we can help you leverage progression opportunities within your organisation to engage and attract long-term candidates, as well as provide guidance on tackling misalignment in recruitment.
Please call us on 0113 332 0678 or email email@example.com to find out how we can help.