High employee turnover is every company’s nightmare. Not only can it cost massive amounts of money, it simply proves inefficient long-term. Seeking tips for reducing employee turnover? Keep reading to find out how you can best secure top talent.
7 Tips For Reducing Employee Turnover
1. Examine benefits and compensation.
Take a look at the benefits and compensation you offer your employees, financial or otherwise. Are they worth the time and effort your employees put in? Consider what you can do to increase the perks of working at your company, and if that will in turn help you retain employees.
2. Make health a priority.
Do your employees get time off for sick days? Does their insurance cover everything it needs to? Health insurance is a hot-button topic these days. It’s important the health insurance provided by the company is sufficient for its employees, or they’ll find better coverage elsewhere.
3. Establish personal relationships with employees.
If you have had one-on-one time with your employees and figured out what makes them tick, their goals, their ambitions, etc., and expressed your support for all their endeavors, they will be more inclined to stay due to that personal connection.
4. Organize company outings.
Is your company tightly knit? Can you connect personally outside the office? Organize company outings to bond with your team. From something as simple as grabbing a drink together after work to organizing a company retreat, spending time outside the office builds camaraderie.
5. Provide opportunities for growth.
Is there potential for growth within your company? If not, you might want to rethink your company structure. For example, millennials may tend to seek careers that provide room for change and promote diversity. If your company does not allow room for career growth, younger hires may not feel as inclined to work for you as to avoid feeling “stuck.”
6. Practice open communication.
Being able to provide feedback to your employees and to also accept feedback from your employees is a necessity in the modern workplace. A combination of mutual respect as well as willingness to openly communicate is important. If you can offer constructive criticism or positive qualities you notice to your employees, they will feel respected and not as though they are working beneath you. Likewise, if you as an employer can humble yourself and listen to the points of your employees, that allows for a strong dialogue that will make the employee feel important.
7. Create unique experiences.
If you go out of your way to create unique experiences for your employees, it will be difficult for them to leave for a company that does not offer the same. Little things, like signing a birthday card, or big things such as going to an event as a team, can stick with an employee — and will make their overall experience at your company more positive.
Use these seven tips for reducing employee turnover in order to increase efficiency and positivity in your workplace culture. If you’re facing high turnover rates, contact TruPath for your hiring needs.
As a trusted recruitment source for more than a decade, TruPath has the industry knowledge and a proven model to help our partners feel comfortable in their search for a candidate.
Through our TruProcess, we are able to consistently deliver exceptional candidates that help organizations continue down successful paths. Contact TruPath today to tell us about your staffing needs.