A quick overview of this proprietary research: 5 key elements that when put together tend to produce a reduction in regretted employee turnover of approximately 18%, all other things being equal. So if your rate was 15%, you could reasonably expect it to move towards 12% once you had put in place these 5 elements, assuming economic factors remained unchanged.
The idea of a realistic job preview has been around for a long time. The reality of actually giving prospective new recruits, and sometimes even internal candidates, a good sense of the day to day nature of the role, is less easily achieved.
My proprietary research suggests that additional focus on this element can produce real dividends in terms of a reduction in the number of departures within the first six months.
So do take the time to review your realistic job preview to see whether there is room for improvement. If you aren't currently including this element within your recruitment process, then it is certainly worthy of consideration if you are experiencing early turnover - normally defined as within the first 6 months, though sometimes a different time-frame may be more appropriate.
The other four retention elements will be discussed over the next few weeks.
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