How to Improve Employee Turnover Rates
A high employee turnover hurts your company’s bottom line. It’s also not great for morale, as employees seem to come and go, and staff members aren’t able to form strong working relationships. Keeping your employees happy is a key part of lowering your turnover rate. If you aren’t sure how to improve employee turnover, try implementing one or more of these ideas to make your workplace a desirable place to be.
Hire with Care
One great way to reduce turnover is to hire the right person for the job. Being right for a position means not only having the ability to perform the job, but also to get along with people in the office. When you interview candidates, get a feel for their personalities. You might also want to find out why they want the job. You want an employee who really wants the job, not someone who’ll take the position only until something better comes along.
Everyone wants to be recognized for their hard work. Make your employees feel like they are part of the team by regularly offering awards certificates and recognition to the hardest workers. Consider starting an employee of the month program, which recognizes a person who has gone above and beyond.
Make Sure Pay is Right
Pay is a big issues for both employees and employers. People are likely to jump ship if their pay isn’t in line with their position or if they haven’t received a raise in a long while. Do some research to find out if what you’re offering employees is in line with similar positions at other companies.
You might also want to consider boosting benefits to convince people to stay. For example, you can begin to offer flexible work schedules to staff or offer bonuses for employees who perform especially well over the quarter or year.
Remember That Your Employees are People
Along with being paid fairly and receiving recognition for their efforts, most employees want to be treated like human beings. You’ll reduce turnover if you remember that sometimes your workers need a day off or that sometimes a team member will have to work from home as he or she cares for a sick child or spouse.
When thinking of ways to lower your company’s turnover rate, think of the things you’d want from an employer. Odds are likely that the things you’d hope for in a job are similar to the very things your team members want.