When your budget won't let you give gifts to everyone in the world—which is always, by the way—who should you give...
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According to a recent study from the U.S. Department of Labor, the average number of years a worker stays at a job is 4.4. An additional 91% of Millennials (15–35- year-olds) believe they’ll stay on the job less than three years. The days of 30-year, gold-watch-earning team members are officially gone.
So what’s the big deal? People change jobs all of the time. It’s critical because turnover hurts your bottom line. In fact, it’s been estimated that it costs $3,500 to replace one $8-per-hour worker. But that’s just the beginning. The longer a team member has been with the company, the harder they are to replace. Add the loss of morale on your team to that, and the price has skyrocketed.
So how can you grow a team that is so passionate about their jobs that the thought of jumping ship is as foreign to them as frog legs for Sunday dinner? It all begins with the hiring process. When you have the right people on board, turnover drops. Get on the right track by avoiding these hiring mistakes.
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Hiring Too Quickly
We’ve all been there. You’re so short of help, you are willing to take the next warm body who walks through the door. Bad idea. Within six months, odds are you’ll be trying to fill that same position again.
The Solution: You have to be willing to wait for the perfect person—one who shares your values, work ethic, etc. At Dave’s company, team members are interviewed an average of eight or nine times before getting the job, with the process usually taking three to four months.
Letting Crazy In
When hiring someone, you are employing more than just the person. You’re taking on the whole family. And when they are married to someone who is domineering, unstable or simply full of drama, you’ll end up with a team member who can’t be creative, productive or excellent.
The Solution: Part of the 12-step hiring process at Dave’s company includes a spousal interview. The leader and their spouse meet for dinner with the job candidate and their significant other. It’s not a formal interview; it’s more a time to hang out and get to know each other. A candidate’s spouse can tell you pretty quickly whether the position will really work for the family.
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Choosing Talent Over Passion
There are lots of great candidates out there with incredible talent and experience, but that doesn’t mean they are the person for the job. In fact, they could be a jerk who will never fit in.
The Solution: When interviewing a candidate, you are not looking for the best team member—you’re looking for the right one. Do they light up when they talk about the job? Are they full of enthusiasm? If they’re just looking for a paycheck, they’ll never be satisfied with any position.
By avoiding these mistakes, you’ll be well on your way to building a highly motivated, ridiculously happy team who will not only shine but also be with you for a long time. Everyone wins.
This article originally appeared in the EntreLeadership Advisor, Dave Ramsey's business and leadership newsletter. Sign up now to get it delivered straight to your inbox twice a month.