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Retention Management And Metrics
 

Why Online Interviews?


Today's organizations are struggling with improving employee retention, satisfaction, and productivity. Employee turnover and workplace litigation are concerns for all organizations. An average company with 5000 employees spends over $1,560,000 dollars per year on employee turnover (based on a turnover rate of 15.6% and a cost of $2000 per termination). As companies struggle to understand what motivates today's work force, they often end up implementing solutions without understanding the problems.

In the past, understanding these issues meant hiring expensive consultants or conducting costly surveys that sometimes created more problems than they helped solve (see Nobscot's article Be Prepared To Act, which highlights the dangers of employee surveys and how HR's good intentions can sometimes backfire). Nobscot's data mining techniques use web based Exit Interviews to pinpoint organizational strengths, weaknesses, and risks. Online Recruiting Interviews determine appropriate skills, experience, and character of applicants.

It's About Time

Discover the amount of time you can save by allowing your applicants and employees to take self-service online interviews. Discover the amount of time you can save by allowing your applicants and employees to take self-service online interviews.

Whether it's Recruiting Interviews, employee Exit Interviews, or Internal Job Posting Interviews, online interviewing frees up HR's staff time.

Reports are generated at the push of a button, so HR staff and senior management can spend more time analyzing and solving problems.

It's About Information

Online interviews provide the comprehensive information you need to make effective recruiting and retention decisions.

With online interviews such as web based exit interviews, employee turnover and retention data is available at the click of a button. Create informative reports for senior management in minutes. Determine areas needing attention and review HR analytics and benchmarking metrics with a few simple keystrokes. Today more than ever, Human Resource professionals need to take a pro-active role in providing management with HR business intelligence. Online interviews put the power and the knowledge in the hands of the successful HR Manager.

Knowledge Management

Online exit interviews are your first line of defense in the knowledge management arena. Online exit interviews are your first line of defense in the knowledge management arena. When your employees terminate, are they taking critical business knowledge with them? With online exit interviews you can find out what information the exiting employee needs to hand off, enabling a smooth transition. Whether it is customer relations, marketing plans, design notes, or current projects, employees need a smooth process for passing their knowledge to their coworkers before they leave.

It's About Savings

Hundreds of thousands of dollars can be saved with online exit interviews. Hundreds of thousands of dollars can be saved with online interviews. Reducing turnover by just a few percentage points can create a return on investment (ROI) from your online systems of over 10 times the automation cost. (See Nobscot's retention savings calculator at: Retention Savings Calculator)

Improving employee retention saves money across the company. When an employee leaves, a myriad of costs reverberate throughout the organization. If the employee is critical on a day to day basis, a temporary may need to be hired immediately. To fill the position requires advertising and recruiting expenditures, as well as HR and staff time to interview and hire prospective candidates. Once an employee is hired, that employee needs to be trained in the functions of the position. By reducing your turnover, you reduce your costs in all these areas.

Savings are also achieved when you free up your HR staff to work on other projects instead of on processes that can be easily automated with self-service online interview systems.

Find out more about Nobscot's WebExit exit interview management system.


Exit Interviews Tell You Why Your Employees Are Leaving


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