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In order to reduce turnover, focus on hiring the right person for the job, not just someone to fill a vacant seat, according to Nancye Combs, president and CEO of HR Enterprise, in 5 Tips to Reduce the Cost of Employment, from the 2016 Distribution Trends Special Issue.
Too many distributors suffer from “warm body syndrome,” Combs says. “They hire someone who’s there, breathing and alive because we’ve got a vacant seat and we’ve got to fill it right now.”
Too often that person isn’t a right fit for the job, and you end up spending even more money to fill it again later. “The minimum cost of replacing an employee, any employee, is $4,000,” Combs says. If your turnover rate is 30 percent, that can add up quickly.
Focus on hiring the right people at the start to reduce that rate and lessen the amount you spend on hiring and onboarding.
Read more HR advice in 5 Tips to Reduce the Cost of Employment.