Recruiters today find it a challenge to manage attrition due to the intense competition prevalent in the industry. The rise in new industries has led many employees to seek newer job opportunities. Besides, potential job-seekers also look forward to joining industries that offer better opportunities and perks. Thus, making it even challenging to close vacant positions.
Managing attrition is a crucial task that every recruiter must learn in order to increase company revenue and outcome. The rate of attrition also depicts how a company is performing in the market and their ability to adapt to newer technologies. Many recruiting professionals are clueless about how to tackle attrition; this might be due to lack of exposure and inexperience. In this blog post, I will list out 3 possibilities to tackle attrition in a company.
Upgrading your company with latest and competition technology can help reduce the rate of attrition in your company. Technology makes your company more apt and competitive in the market. It also helps build market brand thereby attracting potential job-seekers to your organization. It is essential for a company to move with technology because it is a sign of growth and progress of business in the long run.
Apart from managing technology, it is highly essential a recruiter takes into consideration employee requirements. Employees form the core of any business and a dissatisfied employee can bring your business down. Many employees take to social media and vent their anxieties. This can earn your company a bad reputation, thereby increasing attrition and loss of new job-seekers.
Succession planning and career growth:
According to an internal research conducted by Han Digital talent consultants, 87% of employees leave the organization due to lack of career growth and progress. In order to reduce the rate of attrition, it is necessary that employees get a fair chance to grow in their careers. One of the best methods it to implement succession planning at the executive level and internal talent mobility at the subordinate level. This will not only keep employees excited but will also help the company to attract new candidates to the company.