Tenure is a crucial metric that every HR professional should be aware of. Whether you're an HR manager, business partner or recruiter, knowing how long employees stay with your organisation can significantly impact your retention strategies and hiring decisions. In this blog post, we'll look at how you can use retention data to improve your HR practices and ensure an engaged and productive team.
Why is tenure important?
Employee engagement provides valuable insights into the dynamics of your workforce. By analysing retention data, you can:
Improve employee retention strategies: Recognise patterns that indicate potential problems.
Evaluate hiring success: Assess the success of your hiring practices based on new hire retention rates.
Optimise workforce planning: Make informed decisions about training, development and succession planning.
Imagine you are an HR manager and want to improve the performance of your team. By analysing employee retention, you can uncover underlying issues that could be impacting your team's effectiveness. For example, a high turnover rate could indicate a need for better onboarding processes or more targeted retention measures.
Utilising tenure insights: A practical example
Let's dive into a real-life scenario to see how retention data can be used effectively. Let's say you're a business partner and you notice a drop in performance in your team.Here's how you can use retention data to identify and address the problem:
Select time period: Start by selecting the last year to get a comprehensive overview of retention trends.
Customise view: Switch to the monthly view to identify specific periods of change.
Filter data: Start with a rough overview by selecting the relevant department and cost centre.
In our video guide, we show you how easy it is to access and analyse this seniority data in beyobie. This will give you a clear picture of current employee retention and those who have left the organisation.
Identifying and dealing with tenure drops
An interesting observation could be a significant drop in tenure in a particular month, which then gradually stabilises again. Such drops can indicate retention or performance issues, usually caused by two scenarios: an influx of new employees or the departure of key employees.
To address this, follow these steps:
Investigate the cause: Determine whether the decline is caused by new hires or departures.
Analyse onboarding: Review onboarding to see if new hires are impacting tenure. New hires, especially during the probationary period, can significantly decrease average tenure.
Implement solutions: Focus on improving onboarding processes and providing new hires with the support they need to ensure a smooth integration and better fit into the team.
By addressing the root causes of disengagement, you can mitigate performance issues and increase team stability.
In conclusion, utilising tenure data allows you to make informed HR decisions that promote better retention, higher team performance and higher quality hires. Keep exploring the many opportunities that data-driven insights offer.