Employers could be about to face a “turnover tsunami.”
Some 52% of workers across North America report they are looking for a new job, according to a study for the Achievers Workforce Institute.1
Staff turnover is expensive for employers. Lost productivity and knowledge alongside new hiring, training, and onboarding fees add up to around a third of annual salary.2 So, firms that do not understand why their people may want to leave and take action to prevent such departures, could face significant losses.
The new Questionmark white paper, “Five Ways Assessments Can Help Retain Employees”, shows that by testing the skills of workers, employers can:
- Make better recruitment decisions – someone who leaves within their first year is likely to have been a poor hire. Testing the skills of candidates before hiring them helps ensure new starters are a good fit for the role.
- Identify relevant training needs – assessments can pinpoint an employee’s immediate training need, helping demonstrate that employers are taking their career development needs seriously.
- Improve onboarding – around 15% of exits relate to employees leaving in the first 90 days.3 Assessments can reveal whether the onboarding process is effective and if new starters are learning what they should.
- Create a certification program – assessing employee progress and awarding certifications enhances an individual’s sense of career development. It also creates immediate goals to work toward.
- Predict employee retention – employers can track scores from relevant workplace assessments and correlate them with employee longevity. By doing so, employers can identify risk factors that require intervention to prevent employee churn.
John Kleeman, Founder of Questionmark said: “Now more than ever, employers must ensure they build and retain a winning team. By gaining real and reliable information from staff assessments, leaders can make better decisions on the way they manage their people and bolster retention.”
Read the full white paper: “Five Ways Assessments Can Help Retain Employees”.