How LinkedIn can help reduce employee turnover

Friday, April 11th, 2014 By Jack Nevison

Employee turnover costs your company money. When a team member leaves, productivity takes a hit, as you must reassign the person's tasks and deal with the loss of knowledge the employee takes with him or her. A new hire may be able to perform the same tasks equally well, but you have lost the contacts, traditions, and shortcuts possessed by the previous employee.

Hiring a new team member is very expensive. There are headhunter fees, time lost reviewing resumes and interviewing candidates, and travel expenses. This doesn't mean that you should retain difficult or underperforming employees, rather that you should work hard to keep valuable employees happy and excited about potential opportunities within the company.

To combat the costs and loss of productivity caused by employee turnover, the professional networking site LinkedIn has recently added a new feature to help employees learn about opportunities for advancement within their company. LinkedIn's new "Internal Job Recommendations" feature now incorporates job postings from the user's current employer instead of only listing positions at competing companies.

While researching the utility of this new feature, LinkedIn found that 42% of employees who left a company would have stayed if they had been able to find a higher paying position within it. According to Inc.com, the pilot stage of the feature saw internal applications double in number.

To help reduce your team turnover, consider New Leaf Project Management's 2-day program, "Leading the Project Team." You'll learn how to increase team productivity while maintaining job satisfaction. In addition, New Leaf offers online white papers and QPM games that let you learn while you earn PDUs for PMP certification.

"PMI®," "PMP®," and "PMBOK®" are registered marks of the Project Management Institute, Inc. All rights reserved.

"QPM™" is a registered mark of New Leaf Project Management. All rights reserved.

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