Top ways to reduce employee turnover
One of the worst things for an employer is watching an employee leave after giving them professional development and skill training. They should be an asset to the company, but unfortunately they have somehow slipped between the cracks and left.
How this could have happened is often a mystery to the employer – was it something internal that prompted the departure? Or is this a result of poaching from a rival company?
For businesses, however, there are many things you can do to try and retain and engage staff. Here are some top tips.
What you are paying an employee will definitely affect their decision to leave or not. It isn’t a topic that can be easily brought up, so employees unhappy with their remuneration could easily just go shopping elsewhere.
This is why it is important to pay market rates and to offer performance schemes and rewards. The extras are what employees are looking for when there are so many choices.
It could also be useful for businesses to give potential employees control over (some) of their wages. In the interview, ask what sort of salary they are looking for and then some meaningful negotiations can take place from there.
Your relationship with employee is another door that needs unlocking. Regular meetings that discuss performance, personal issues and offer suggestions are an excellent opportunity to connect with employees and show you care.
The business is healthier with open communication, and you are more likely to hear concerns and be able to deal with them. An employee bored or unchallenged can then approach senior management and ensure the problem doesn’t get worse.
Another way to retain the best employees in by investing in HRMS software. The software can help HR executives identify potential issues and manage employee concerns which will reduce the likelihood of workers leaving with no explanation.