Losing Employees is Expensive. Let’s not go there.

An effective selection and hiring process, along with a quality onboarding experience can help ensure employee success

Filling a position on average costs $4,129. You can avoid that expense by reducing turnover. Effective selection and talent matching in the hiring process and a robust onboarding process can help ensure employee success and reduce attrition.

Entrepreneur Magazine recently shared ways you can attract and retain top talent even if you’re not able to pay top salaries. Here are a few of their tips but check out the article for the rest of them.

1. Exude passion for your vision: People will want to work for your company if you are infectious with your vision; likewise, you also want to identify and hire candidates who have the same enthusiasm or excitement about your company.

2. Let your current employees refer new super-stars: 48 percent of businesses say their highest-quality hires come from employee referrals.

3. Develop an immersive universal onboarding program for all new hires: The first day is an employee’s most important day at any company, and your priority should be to make that employee confident that he or she made the right decision joining yours. It’s that critical first impression that sets the tone for the rest of the relationship — in fact, 69 percent of employees say they’re more likely to stay with a company for at least three years if they have a great onboarding experience, according to employee recognition company O.C. Tanner.

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