No one likes to lose money, in fact, losing money in business is a troubling predicament that so many businesses find themselves in on a day-to-day basis. In some cases, it can be inevitable, but most of the time, we would like to feel that most scenarios can be avoided.
When it comes to a company’s reputation, it is relatively understood that a good public reputation can drive business towards a healthy profit. Managing your external perception is where many key focusses lie when it comes to your brand, however, this doesn’t take into account your internal perception. A business can only sustain itself if you have the resources or staff power to support it. You may be consistent in how you manage staff responsibilities and roles, but if your staff turnover is high, how much are you losing in the process?
What do new employees want from you?
When looking for a job, it doesn’t just come down to working hours or annual pay. Businesses need to ensure they are presenting themselves just as well as any new applicant looking for a job. Employees want to feel secure with the company they are applying for. Consider an outsider’s opinion of how your organisation works, regardless of how popular your product or service may be. What would other employees say about their time with you? Did they feel respected and enjoy their responsibilities? Basically, does your business have good references?
There are two sides of the coin to consider when advertising a job opportunity. If you are a company that regular hires for a particular role, how does this look? Will people think you’re expanding the team (positive) or quickly trying to replace the last candidate who left (negative)? The latter option also opens up a lot more questions; why did they leave and why so soon?
This is how many promising applicants will approach their job search. Getting insight into the inner workings of an organisation through websites such as Glassdoor can make or break a candidate’s search journey. If your reputation fills them with worry or concern then the chances are, they will not pursue it.
What’s the damage?
A high staff turnover involves a considerable amount of time and money. When you consider how long it takes to interview and subsequently train new candidates for their respective roles along with any job advertising costs, it quickly adds up. It can be a long transition process that is all the more frustrating if an employee leaves in a short space of time – it essentially puts you right back to square one. To prevent the damage, it’s important to consider the bigger picture. Are you doing enough to ensure your staff feel satisfied to stay in their job for a respectable amount of time?
Addressing your reputation can offer some exceptional insight into where you might be going wrong. Have you considered reviewing your online presence to see where you could improve and more importantly, how you could resolve ongoing issues internally?
Tagflag brings online mentions direct to you and analyses the impact and sentiment so you don’t have to. If an internal issue is being discussed online that puts your reputation on the line, Tagflag will pick it up and allow you to consider how best it can be resolved. Preventing damage and resolving issues quickly can result in a lower staff turnover and a more positive reputation internally and externally.