Stabilizing Attrition in your Business
We strive to create solutions for our customer’s problems to help bring them continued success. One problem many of our customers have seen is attrition. Attrition can affect a company significantly. Losing employees without a replacement can change how a department can function and, most times, will hurt your business if you are not prepared. Here is an example of how IntelliSource used its expertise to help stabilize customers’ attrition.
Job Market Competition Increases Attrition
In northern Nevada, we experienced a sharp decrease in unemployment as the area is quickly becoming a preferred location for warehouse facilities. Several fast-growth and well-established companies were all vying for great employees in a market that had low unemployment. This situation affected the light industrial workforce. The combination of low unemployment rates with fast growth in the area created an extremely competitive recruiting & job market. We partnered on a solution with a company that was having increasing trouble with retaining top employees with this trend. The goal was to keep our top talent from jumping to another company. To do this, we had to show the value of our company and why current employees should stay. However, we also needed to start retention at the onboarding stage of hiring!
Stopping Attrition at Initial Hire
Working with our partner during a peak season meant that we had to work quickly to develop and establish processes to help our partner retain their workforce. We also helped with recruiting, screening, hiring, and training of new employees during the peak season of the partner’s logistics. Through preliminary discussions with leaders in our partner’s company, we determined the ideal candidates and the needs of the partner for this project.
We started our process to increase retention at onboarding with our new employees. We focused more on enrolling our people into the company and programs they would be a part of within the business. We then conducted face-to-face interviews with skill testing to assess each candidate and match our partner’s desired skill-sets. Our on-site management team validated all documentation as well as background and drug testing to handle the initial process of screening precisely to our partner’s needs. Working with the partner, we matched our ideal candidate profiles to our pool of associates and decided which could lead our team into success.
The Success of Decreased Attrition
From our efforts to enroll both new and current employees into our values and culture, we saw a substantial increase in the retention of our workforce. Through our management processes and planning, we were able to help our partner manage 360 associates, making up 62% of our partner’s workforce! We were also able to save our partner an estimated cost of $500k in under seven months through our innovative approach and retention efforts. The cost of keeping a great employee is in most cases cheaper than hiring a new one.
IntelliSource can help you with your attrition problems through our experience and problem-solving mindsets. If you are having issues with finding and keeping great people, contact us today and lets work together to build a successful team and partnership!