What any successful organization strives to do is to maintain employees who offer value. Organizations do not just grow and become profitable. They give a whole lot to reduce employee turnover. Employee Turnover measures how employees leave a business, whether they left for better jobs or were terminated.
Research on blogs shows that there are many reasons why organizations or companies have high employee turnovers. One of such causes is that people seek better opportunities or new jobs that can offer them better lives than where they currently are. Employee Turnover may also be caused by terminating job appointments because they could not deliver on their jobs. Find more causes and opinions about this on Luminablog.
From multiple results from top investing firms, it was observed that company’s values and cultures tend to affect employee turnover. A company would meet its yearly plans and target when the right people can deliver well on the company’s goals and objectives. Therefore, it is imperative that all companies keep their best hands.
Below are four (4) proven ways to reduce employee turnover in your organization:
1. Recruit the right people and train them
Your company would not do well by being empathic to unemployed people and employing them when you know they are not competent for the work. When you want to hire new employees, you must understand the organization’s goal, understand how the company operates in order to avoid recruitment error. Organize training frequently so that you can build employees for a good work spirit.
2. Reward faithful employees
Say “thank you,” “You are doing a great job,” or other forms of appreciation to employees giving their best. You can also use money as an incentive. They would normally not expect an addition to their salaries; thus, doing such would show that their work is acknowledged and appreciated. In turn, they’d give more quality services.
3. Be flexible
Flexibility is not to say that you allow indifference to work by employees. Being flexible with your staff gives intermittent breaks between work activities, allowing them time with their loved ones, and spending time in fun activities, amongst others.
Workers are social beings; they must strike a balance with their normal lives to function properly at the place of work. Trips and events are also a great way of building togetherness among teams.
4. Be transparent as much as possible with your employees
Apart from money being a major factor in business, your staff quality is of major importance. You should be as transparent to your workers as much as possible by sharing your core values with them.
By this, they would engage actively with you and keep up with your goal and perform better. Ensure that each employee identifies and understands their roles so that they do not perform less in their responsibilities.
The bulk of the reason why employee turnover is high is not under the organization’s control. However, you can retain employees and reduce employee turnover rates with the tips mentioned above.