Employee Referrals and Well-Defined Job Descriptions Boost Employee Retention

When you think of the different ways you work to improve employee retention at your dealership, is your hiring process something that comes to mind? A survey of industry benefits shows the average cost to replace an employee can range from 16%-20% of their annual salary. The disruption in work flow as well as the financial impact can be minimized by focusing your hiring on candidates that fit both dealership culture and job skills.

Jared Nielsen, Chief Human Resources officer at Stotz Equipment, emphasizes a strong hiring process can help attract and retain talent, including:

  • Encouraging employee referrals, including incentives for employees who refer new hires.
  • Maintaining a depth chart of qualified candidates that are a good match for the company’s culture.
  • Developing comprehensive job descriptions that describe both skills and behaviors.
  • Investing in employee development through a strategy of continuing education.

To learn more about the best practices Jared uses to hire and retain talent at Stotz Equipment, click here.