Top Recruitment Methods to Improve Employee Retention
Considerable time and resources are needed to recruit new employees. From candidate searches to employee onboarding, it takes a lot of effort to find qualified workers who maintain the proper cultural fit for your organization. With so much invested in the process, employers should be looking for any way possible to maximize the retention of team members.
As data shows, using the right recruitment channel can make a big difference when it comes to finding employees that express loyalty towards your organization. Although employers should use a variety of recruitment methods to access top talent, their mix of channels should all favour lower employee turnover.
On-campus recruitment has been identified as the recruitment method with the lowest turnover rate. This suggests that if employers are looking to find a good fit and keep the employee for a long time, they should be attending post-secondary job fairs and building employer branding that’s focused on post-secondary graduates.
Low-Turnover Recruitment Methods for Employers
When it comes to hiring employees, not all recruitment methods provide equal results. Data from ECO Canada’s Battling Environmental Turnover report shows a clear difference in employee turnover rates between many common recruitment methods, from co-op programs and on-campus recruitment to corporate websites and online job boards.
Even if your business doesn’t operate in the environmental sector, these figures can still help you understand where to invest your recruitment resources. Overall, some of the best recruitment tips are:
- Get Personal: Recruitment methods with some of the best retention rates rely on members of the company establishing a personal connection with candidates. On-campus recruitment, co-op programs, and using internal recruiters can help deliver great employment experiences from day one and help new team members feel valued.
- Mix Job Boards with Other Recruitment Methods: Although job posting boards are a convenient method for employers to get in touch with qualified candidates, turnover rates for these recruits is higher than several of the alternatives. Consider incorporating other methods with higher retention rates to reduce employee turnover.
- Consider Referrals Cautiously: Personal referrals may seem like a good way to reach new prospects, however it can be dangerous to accept the candidates without thorough screening as other recruitment methods would entail. Skipping this review process could lead to a poor positional or organizational fit.
- Hire Recent Post-Secondary Graduates: New graduates are more likely to feel a sense of loyalty to your company than mature candidates who’ve held full-time permanent positions in the past. This is one of the reasons why on-campus recruitment programs and co-op placements deliver exceptional retention rates.
What Recruitment Methods Provide the Lowest Turnover?
Companies should carefully consider the recruitment methods used to find candidates. Consider ECO Canada’s data on the 12-month turnover of employees hired through various recruitment channels:
Low Turnover Recruitment Methods:
- On-Campus Recruitment (18.6%): Attending job fairs and other hiring events focused on connecting with post-secondary students.
- Internal Recruiters (20.3%): Designating employees to proactively search for and get in contact with potential candidates.
- Recruitment Agencies (20.4%): Purchasing the services of a recruitment agency to offload candidate search and reduce time commitments.
- Co-op Programs (20.8%): Hiring current post-secondary students to work for a semester with the potential of post-graduation employment.
Medium Turnover Recruitment Methods:
- Corporate Website (21.5%): Using pages hosted on a company’s website to post employer branding resources, job descriptions, and directions on how to apply.
- Newspapers (21.8%): Publishing job notices in local, regional, national, or international publications, typically as part of an ongoing recruitment campaign.
High Turnover Recruitment Methods:
- Online Job Banks (23.2%): Posting a company profile and job description online via well-known job posting sites to generate a list of potential candidates.
- Personal Contacts/Referrals (23.4%): Using the personal network of current managers and/or employees to generate a list of candidates that can be contacted and interviewed.
Start Recruiting Today, Not When You Need a Candidate
While most companies will adapt recruitment strategies to fit their business model, it’s important to know that diversification is key. Leveraging multiple recruitment methods and understanding your hiring intentions is so important to landing the right hire.
To find the right candidate, be prepared to use multiple recruitment methods and develop an always hiring mindset.
Good luck on finding the perfect fit for your organization. We hope they’re valuable to you over a long time!