High employee turnover rates can be detrimental to any business – large or small. Not only does it mean a loss in productivity, it can also lead to a decrease in morale and an increase in expenses. The good news is that there are various things you can do to reduce staff turnover and keep your team happy and engaged. From creating a supportive and collaborative environment to promoting employee wellbeing, these tips will help you retain your team and keep your business growing.
Understand why employees are leaving
The first step is to identify the issue. When trying to pinpoint why employee turnover is high, regular feedback and surveys can be useful. Make sure you’re asking questions that will help you understand the underlying problems that are causing employees to leave. Is there a lack of job satisfaction? Is there too much pressure or are there not enough opportunities for growth and development? Maybe the way you communicate or manage employees could use some improvement. Get to the root of the problem and make necessary changes to ensure employees are set up for success.
Craft a recruiting strategy that attracts the right talent
The next step is crafting a recruitment strategy that will attract the right talent. What are the attributes, skills, and values that you want in an ideal employee? Once you’ve identified what you want, make sure your job description is clear and the benefits you provide are competitive. Be sure to reach out to the right people and organisations. Networking and attending recruitment events can be a great way to scout new talent, while word of mouth can be one of the most efficient ways to find a reliable team. Don’t forget to ask your existing employees to refer their contacts or others they know, who may be a good fit.
Improve communication and feedback
Effective communication and good feedback is key. Make sure your team has access to the information and tools they need to do their best work. Keep the lines of communication open and ensure all feedback is consistent and two-way. Regularly check-in with all employees and be constructive, this can help increase morale and encourage employees to feel appreciated. It will also help your team to feel more connected to the company and give them the opportunity to express any concerns or offer solutions.
Encourage professional development
Providing employees with the chance to grow and develop is a great way to ensure the longevity of your team. Invest in your employees and provide them with the opportunities and resources to take their career to the next level. Consider providing in-house classes/training or outside seminars and conferences they can learn from. Most importantly, be understanding and let your employees learn from their mistakes.
Nurture a positive workplace environment
Make sure your company culture is one that is well respected and attracts employees who can genuinely contribute and create a positive environment. Recognize and celebrate employees’ successes, honour their work, and provide social opportunities for staff to interact. While these things may feel small, they can go a long way in making employees feel valued – ultimately decreasing unnecessary turnover.
Be flexible
Flexible working hours and flexible vacation policies give employees the chance to create their own work-life balance, which can lead to increased productivity and employee satisfaction. Offering work from home or remote work options can also be beneficial as it can reduce stress and save employees time and money. It may be helpful to conduct surveys or studies to learn what type of flexibility works best for your employees and take the necessary steps to implement it.
Be transparent about targets and expectations
Finally, be transparent from the get-go. Employees should have a clear understanding of how their performance is evaluated as well as their roles and responsibilities. Provide detailed performance metrics and use them to benchmark success. Keep your team updated on company goals and strategies. Regularly solicit feedback and use it to identify where small changes can be made to make employees’ jobs easier or more enjoyable.
Reducing employee turnover is no easy task. It requires time, focus, and commitment on the part of the management team. If you’d like to find out more about reducing your employee turnover or require any additional business support, we’d love to help! Get in touch:
T: 01903 688789 E: makeithappen@mbsmih.com