Is Employee Turnover Draining Your Business?

Employee turnover isn’t just a headache, it’s a risk to your reputation, your company culture, and your bottom line. Yet, many businesses accept high churn as an unavoidable cost of doing business. It doesn’t have to be this way.

The hidden costs of employee turnover

Employee turnover is more than just a staffing issue, it’s a costly cycle that impacts your finances, culture, and reputation. Here’s how:

• Financial Impact: With employee turnover exceeding 30% annually and an average cost of $800 per hire, businesses are bleeding money. The expenses add up fast with recruitment, onboarding, and training costs, not to mention the lost productivity during the transition.
• Cultural Strain: HR teams are overwhelmed by the constant need to backfill roles, making it difficult to maintain a positive workplace culture. Meanwhile, team members are left to cover gaps in shifts, leading to burnout and decreased morale.
• Reputational Damage: High turnover doesn’t just affect your internal team, it impacts your customers’ experience and the perception of your brand. A damaged brand reputation is hard to recover from and can hurt your ability to attract top talent in the future.

‍Reducing turnover starts with hiring the right team

Time and time again, we see frontline workforces struggling to make good hires. Our research shows that while Talent Acquisition Managers genuinely want to hire for culture over skills, they often lack the right process to assess a candidate’s fit accurately.

Even with the best intentions, without a data-driven hiring approach, decisions about fit can be inconsistent and influenced by bias. As a result, businesses end up settling for candidates who aren’t fully aligned with the role or company culture. The outcome? High turnover, lost productivity, a negative impact on team morale, and ultimately, unhappy customers.

The problem with gut feel

CVs, interviews, and reference checks are great for evaluating skills and experience, but they don’t reveal the whole picture. They often miss out on crucial information about a candidate’s motivations and how they’re likely to behave on the job.

Without understanding a candidate’s personality, businesses risk hiring people who may be qualified on paper but don’t fit the company culture or role requirements. This misalignment leads to disengagement, poor performance, and, ultimately, turnover.

How to hire for fit and reduce turnover

A great hire is more than just skills and experience. It’s someone who will come into the role and make a positive impact from day one; on customers, teammates, and the overall work environment.

When someone is placed in a role that suits them and a team that supports them, they thrive. And when they thrive, so does your business, your culture, and your customers’ experience.

Build teams that stay with data-driven hiring

Rikta uses AI to give you an instant insight into a candidate's fit for the role, alignment with your company values, and potential for success. No complex reports, no delays, just fast, actionable data for smarter hiring that reduces turnover.

How rikta helps you build teams that stay:

• Find candidates who naturally align with the qualities required for the role so they’re set up for success from day one.
• Build a team that reflects your company values, creating strong connections and effective collaboration.
• Hire candidates that share the traits and behaviours of your top performers to boost productivity and reduce turnover.

Supercharge your hiring strategy

With rikta, hiring managers experience the power of data, science, and AI combined to accurately predict a candidate's fit for your business.

The outcomes of hiring right:

• Stronger workplace culture: When you have the right team in place, people collaborate better and morale improves.
• High-impact candidates: Whether your team is seasonal or permanent, rikta’s personality insights help you find the right candidates who make a positive impact from day one.‍
• Reduced turnover: Put the right people in the right roles and watch them stick around longer.

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