Employee turnover has increased over the past several years, with approximately 42 million workers leaving their jobs in 2018, according to a study by the Work Institute. More than ever before, employees are likely to quit voluntarily, whether it’s for more pay, a better opportunity or a different manager. The study further reported that approximately 40% of employees leave within the first 12 months of employment.
It’s an employee-driven economy, with workers having more opportunities and choices when it comes to employment. Employees won’t hesitate to leave a job if they find another position that better fits their expectations. For example, the Work Institute study found that 21% of employees will leave a job where no professional growth exists, 13% will leave because of the lack of work-life balance and 11% will go because of poor management. Attracting and retaining top talent not only contributes to the company’s success; it also eliminates unnecessary cost and headache when employees leave abruptly.
Essential to landing that talent is understanding an individual’s unique skill and behavioral profile. Though I started my company on the foundation of hard-skills testing, over time I realized that my own lack of success in early roles was due to the jobs I was in being poor fits for my behavioral and hard skills. Our goal as a company has since expanded to offer complete candidate evaluation, because I believe that when employers are better able to differentiate among applicants who will have the hard skills, behavioral traits and communication skills to succeed at their jobs and be happy, better personnel decisions can be made. Here are four strategies for reducing employee turnover with employee assessments.
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