Candidate turnover can be a significant challenge in contingent workforce programs, impacting productivity, morale, and overall costs. High turnover rates can disrupt projects and strain resources, making it crucial for organizations to develop effective strategies to retain top talent. In this article, we look at proven ways to reduce candidate turnover in your contingent workforce programs.
The Importance of Reducing Candidate Turnover Rates
With the growth of the Contingent Workforce, enhancing candidate turnover rates has become increasingly crucial.
A recent study by Ceridian revealed that 65% of global company leaders intend to ramp up their utilization of contingent workers in the next two years. Moreover, 92% of respondents highlighted that workforce challenges like attracting, engaging, and retaining employees - coupled with compliance complexities - pose risks to organizations in achieving their goals. (SIA -Ceridian 2023 Executive survey)
In this article, we look at five proven ways you can reduce candidate turnover in your contingent workforce programs.
1 - Robust Sourcing and Selection
Spending time up front on is a significant aid in sourcing and selecting the right candidate. These steps should include:
- Proper job description, articulating all facets of the role, nice to have and must have skills
- Clear description of cultural fit, hours, in office time and expectations
- Conducting vendor intake calls or sessions with your MSP or internal PMO
- Conducting interviews in a streamlined yet robust fashion
- Ensuring good candidate experience to retain high caliber talent through the process (poor experience leads to high quality candidates dropping out or taking other roles)
- Pay fair and competitive rates
2 - Enhanced Onboarding Processes
A comprehensive and engaging onboarding process is critical for integrating new contingent workers into your organization. Ensure that your onboarding program includes:
- Clear communication of job expectations and responsibilities
- Introduction to company culture and values
- Training and resources needed for success
- Regular check-ins during the initial period to address concerns and provide support
3 - Foster a Positive Work Environment with Open and Clear Communication
Creating a supportive and inclusive work environment can significantly reduce turnover. Focus on:
- Offer flexible and remote working opportunities
- Building a culture of respect and collaboration
- Recognizing and appreciating the contributions of contingent workers
- Providing opportunities for social interaction and team building – while being compliant for co-employment considerations
- Don’t treat contingent workers like second class citizens
- Clear communication on contract extensions and long-term timelines
- Access to information to effectively do their job
4- Measure and Analyze Turnover Data
Utilize a VMS to understand the reasons behind turnover can help you develop targeted strategies to address it. Use data analytics to:
- Track turnover rates and identify patterns both with vendors and internally
- Conduct exit interviews to gather insights from departing workers
- Monitor satisfaction and engagement levels through surveys and feedback tools
- Adjust your strategies based on data-driven insights
5- Strengthen Relationships with Staffing Agencies
Your staffing agencies play a crucial role in sourcing and managing contingent workers. Strong relationships, rapid process and fair market rates genuinely enhance your collaboration. Work with them to:
- Establish clear expectations and communication channels
- Provide feedback with some detail on the quality of candidates supplied
- Work together to address any issues that arise promptly
- Building long-term partnerships based on mutual trust and goals
Conclusion
Reducing candidate turnover in your contingent workforce programs requires a multifaceted approach that addresses the needs and expectations of your workers. By enhancing source and selection process, developing a great onboarding processes, offering competitive compensation, fostering a positive work environment, ensuring effective communication, analyzing turnover data, and strengthening relationships with staffing agencies, you can create a more stable and committed contingent workforce. Investing in these strategies will not only improve retention but also enhance the overall productivity and success of your organization.
Contact Us
At Conexis VMS, we specialize in contingent workforce solutions that help you manage and retain top talent. Contact us today to learn how our modern VMS software can support your workforce management goals.
Whether you are looking for a new VMS Solution, or just getting started, we are here to help. See how easy Conexis is to use by taking a quick 2 minute Self-Guided Tour. Contact Us for a Free No-Obligation Consultation to discuss your workforce challenges (and get immediate actionable insights) or Book a Personal Demo Today!
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