From the course: Interviewing Techniques
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Metrics and stay interviews
- A Gallup poll analyzing more than one million employees found companies with engaged employees outperform those without by up to 202%. Engaged employees are also more likely to be retained for two plus years. Your interview process will help you hire the best, because you've taken the time to offer them a job that they can do. It's also a job that will challenge them and help them advance in their career. These factors enhance engagement and retention. So, why is it important for you to track employee engagement and retention? To begin with, disengaged employees and turnover is expensive. Some studies such as SHRM predict that when you replace a salaried employee, it costs an average of six to nine months of salary. To replace an employee making $40,000 a year, you will spend 20 to $30,000 in recruiting and training expenses. Improving engagement and retention is the only way to negate this expense, which is why…
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