Employee turnover costs the average dealership $500,000 every year. How can your team unleash its full potential if the players are constantly changing? Build a team of superheroes by recruiting more effectively, empowering your players, and increasing transparency. You’ll increase sales and profits, decrease turnover costs, and strengthen employee and customer loyalty.Break Through Negative Perceptions
Many potential employees have negative perceptions of car dealers, making it difficult to attract the best talent. Show them your dealership is different by offering more transparency and opportunity. Most people dislike high-risk, commission-based compensation plans, especially Millennials, who account for 61% of new dealership hires. Ray Skillman Auto Group replaced commission-based sales roles with salary-based product specialists, decreasing turnover by 60%.Increase Retention with Transparency
For employees, open communication with management builds trust. Employees would rather hear bad news than no news. Rather than focusing only on tactics, share the reasoning behind a new strategy so employees can more effectively achieve the goals. Sharing important information when possible decreases turnover and improves performance.
Invest in People
Invest in your people, and show them how you’re investing. 52% of your committed employees are motivated by career growth opportunities and personal development. Provide training, coaching, and technology to develop employees' skills. Investing in your current team will help with recruiting, too. When potential employees see how you invest in your team, they’ll be more likely to work for you.Save the Day
High turnover is threatening your bottom line. Save the day by breaking through negative perceptions to recruit top talent and investing your team with the right training and tools.
For more tips on how to recruit and retain your team of superheroes, download your free ebook.