One common problem that seems to crop up in businesses of all sizes is that of employee turnover. We want to make sure that we have employees who have loyalty to us as a business, who want to stick around and do their best for us, but keeping these key people around can be hard to do.
When you have a high level of employee turnover then chances are that you are going to have low employee morale in the rest of your employees, as they are watching their colleagues move on. You are also going to have to free up the time of your HR department in recruiting new staff members and then training them up.
Not exactly things that you are going to want to happen, particularly when you are short on time as well as resource.
Employee turnover is a huge cause of headaches for businesses, but how can you fix something that is hard to manage? Here are some of the main ideas to keep in mind when it comes to reducing employee turnover.
Make sure you are communicating properly
You should never underestimate just how important communication is within any business. If you do not communicate effectively with your employees, then they are going to feel out of the loop. They will feel that they are not trusted with information that they need to know, and they will also feel that they are not in any way shape or form trusted.
Employees who are not feeling valued and trusted are much more likely to move on to a company where they do feel valued and that they are important. The channels you use are also important as you should make sure your employees are engaging with the medium. Consider using an internal communication app for messaging that needs to be distributed to the entire company instead of using paper-based communications, for example.
Always pick the right person first
Recruitment is one of the key parts of keeping employees in place in your company. Which probably sounds very strange to think about. However, if you make sure that you hire the right people for your business, then they are much more likely to stick around, as they fit in with your approaches and your values too.
You can do this by asking the right questions at the earliest point of the recruitment process, this can give you a feel of whether or not the person is going to fit within your culture. If they do fit in, then they are much more likely to want to stick around.
Offer plenty of benefits
When it comes to employees staying in their jobs, there are a variety of things that they are going to want. Job satisfaction, a good wage and benefits (perks) too. These benefits don’t necessarily need to be monetary in nature; there are lots of things that you can offer to keep them on board.
Some of the most valued benefits that you can provide for your employees are things such as life insurance and medical cover. Other valued options include perks which can be used against things such as travel and entertainment. Whilst these things won’t be the only things that potential and existing staff members look at, they will definitely be something that they will want to keep in mind.
Think about their home life
It is all too easy to only think about your employees when they are at work. Of course, your main focus is on them in a working capacity, but you need to remember that they do have another life away from their job. Giving thought to their home life and the challenges they may face there is a sign of a great employer and this is definitely to increase the chances that an employee will stick around.
The type of things that you could consider offering is the opportunity to work from home when required and also flexible working. Both of these things show that you understand that they are going to have other commitments that need to be met and that you will provide them with the right level of support to focus on them.
This particular aspect can be covered within communication; however it is important enough that we can look at it on its own. It is vitally important to encourage sharing (or collaboration) within a workplace. This could be sharing of resources, sharing of ideas and of course, sharing of information too.
Employees can come together to discuss best practice and perhaps give one another ideas on how they can work more efficiently and effectively. When your employees feel that they are part of a team and that they are being listened to when they come up with ideas, then they are more likely to want to stay in your company.
As you can see, there are lots of things that you can do to ensure that you hold onto those star players within your team. Of course, everyone is different and different things will appeal, but by getting the basics right the chances are that you will ensure that more of your staff will want to stay working for you.