CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
If you’re a fan of the National Basketball Association, then you’re probably like me when it comes to watching games. There’s nothing more I love seeing than someone dunking over another player or sinking a three-pointer in front of a defender’s face. Now that I think of it, it seems like I only enjoy plays that are demeaning to the defense, huh…but that’s neither here nor there.
As the NBA kicks off it’s 2014-2015 season, there’s one thing I can tell you that I’m not looking forward to and that’s turnovers. Turning the ball over is ugly. It’s bad for the offense and nobody likes watching sloppy play (unless you're on defense, then turnovers are awesome). The same goes for companies everywhere: turnover is bad for business.
While referring to turnover, the Wall Street Journal says, “experts estimate it costs upwards of twice an employee’s salary to find and train a replacement. And churn can damage morale among remaining employees.” Now if you’re like every other business out there, you know this is a serious problem, but how can you fix it? Is turnover even fixable? The quick answer—yes.
Just like the game of basketball, keeping score is essential for your business. It’s vital to keep
track of the candidates you’re interviewing, what their responses are to your questions and how
their personalities fit within your company’s culture. One of the best ways to do this is by using
an interview scorecard, but that’s only one step towards diminishing turnover at dealerships.
Below are other things that can help you keep employees sticking around for the long run:
Hire the right people—this starts and ends with the interview process. If you hire the best-fit candidates for your open positions, they’re likely to stick around longer and be productive members of your company.
There’s no question that turnover at dealerships is a serious problem and can be costly for your
business, but where does it come from? Before you can begin to solve this problematic issue,
you have to find where it all starts. Find the source, hire the right people and before you know it,
you’ll be celebrating championship years with employees you can call old friends!
To find the source of turnover at your dealership, read this helpful guide here!