Smart companies want to reduce employee turnover as much as they can. Not only does turnover cost companies money in recruiting and training new employees, but it also can hurt morale for everyone else in the company when they see key employees or much-beloved supervisors and co-workers leave.
While some turnover is inevitable, here are some steps you can take to reduce employee turnover to the lowest level possible.
1. Check leadership's attitude toward employees.
Far too many companies see employees as almost a commodity rather than as human beings with needs, desires, and feelings. If your company seems to look at employees more as machines that can do what they need than as people, a crucial shift in attitude may help you keep more of your employees. Attending to people as people means asking them for input, understanding what drives them in and out of work, and showing that you genuinely care about them and their lives.
2. Pay attention to cultural and behavioral fit.
Employees that don't feel they fit into the prevailing culture will not stick around, because who wants to feel uncomfortable and awkward every day? Exposing candidates to culture and expectations during the hiring process can help you make sure your new hires know what they're getting into before they accept the job, and can lead to fewer early departures.
3. Offer career development and continuing education opportunities.
Most employees are interested in opportunities to develop their skills further, and many want to advance over time. Having ongoing training is a plus; tuition reimbursement is even better. When employees don't see a path forward within your company, they will naturally look elsewhere for opportunities to advance. Retention can be improved by promoting within whenever possible.
4. Be as flexible as possible.
Competitive wages should be a given in this tight labor market, but where companies can really make strides in holding onto valuable employees is by giving them the gift of flexibility. Working at home at least some of the time and being able to work flexible hours can be even more important to some employees than a higher salary. Flexibility and remote work options allow them to have more control over their lives and help them meet all of their needs better.
5. Create a positive work environment.
Finding ways to praise and encourage employees can go a long way toward keeping them connected to your company so they don't have a desire to seek work elsewhere. Appreciation for good work, constructive feedback to help employees improve, and recognition of a job well done can all help keep things positive. Companies also need to deal with problems effectively so that negativity doesn't take over.
By implementing these practices, companies can reduce turnover and hold on to their valued employees longer than they otherwise would. GDH Consulting offers recruiting services including full solutions and individual services that can help with all your recruiting needs. Contact us for more information on what we can offer your company.