8 Simple Ways to Limit Employee Turnover
If you have high employee turnover, then it really is in your best interest to try and lower it.
This is super easy to do and there are plenty of inexpensive and in some instances, free methods that you can use.
#1 Hire the Right People from the Start
If you want to keep your employees, you have to make sure that you are hiring the right ones from the get-go. You need to be looking out for strong skills that match the position perfectly. If you don’t, you risk compromising your office culture and you may even find that your business performance suffers as a result.
One way for you to make sure that you are always hiring the right team members would be for you to see how your new hire reacts to certain situations. Ask them about their history, and also find out about their personality. This is easier than you think to do, and it can work wonders for your workplace too.
If you hire employees that don’t fit in with your company structure, then they won’t be happy, and they probably won’t get on well with their co-workers either. This is the last thing that you need, so take your time and make sure that the person who you do hire is going to benefit your company overall.
If you want to take things to that next level, it is always a good idea for you to do background checks. When you do, you can then feel confident knowing that the person who you are hiring isn’t going to cause you any unforeseen problems.
#2 Offer a Competitive Salary
People want to be compensated. If you want to have the best team then you need to try and cover their standard expenses as much as possible. If you aren’t willing to pay your employees well, they will most certainly find a business who will.
Finding out how much compensation to give your employees can be difficult, and if you want to help yourself here, it helps to do some market research.
Find out what a competitive salary is and also lookup similar jobs in the area too. It also helps to find out what other perks you can give them, for example, free childcare or even discounts on gym memberships. This will help them to feel rewarded and it will also help them to feel more confident in your team.
#3 Give Praise when it’s Due
Your team needs some degree of encouragement and recognition. When employees do something right, you need to show that you appreciate them and that you know how much hard work they put in.
So if someone submits a project before the deadline, congratulate them. If you do, then you will help to give them the positive and encouraging work environment they need to do their best work.
#4 Show them a Career Path
If employees stay stagnant in a job for too long, they may end up searching for something else. They may seek out somewhere they can advance, or they may even want to increase their own skills and knowledge too.
If you show your team a projected career path, this will give them a sense of direction and it will also help them to know their purpose within the company. If you want to help your team, one way that you can do this would be for you to provide them with coaching and even suggest ways to improve.
They’ll appreciate it and it will also help you to get a better result out of your team in general.
#5 Allow a Flexible Work Schedule
If possible, you should try and offer a flexible work schedule. This will give your team the chance to adjust their work time and even their location too.
It will give them away better work-life balance and they can also focus on something other than work. Flexible working hours may not be possible for every single business out there, and if yours is one of them, you might want to consider other options. For example, you may want to offer flexible lunchtimes.
#6 Solicit Feedback
Making the decision to quit your job can be difficult. It’s also a decision that not a lot of people take lightly. When employees leave, you have to make sure that you find out why and that you also get qualitative data too.
This will help you to understand your team better and it will also give you the chance to learn some hard truths about your company culture.
#7 Transparency
Transparency is crucial for retention purposes. It’s also crucial if you want to have a healthy organization in general. At the end of the day, there’s a bond of trust between employees and employers, and if you want to strengthen this bond then you have to be transparent.
One way for you to do this would be for you to share as much as you can with your team unless you have a good reason not to.
Sure, you may think that your team doesn’t always need to know all the ins and outs of your company, but if you talk openly with them, this can help you to feel more assured and it can also help them to trust in you more as an employer.
#8 Set Accurate Expectations
Think about it, are you attracting candidates only to see them leave after a few months? If so then it may be something to do with the way that you are describing your job description.
If an employee enters a role thinking that they are going to be doing one thing, only to find that they end up doing something completely different then this can have a huge impact on their performance.
On the flip side, if you promote any unrealistic or even extreme expectations then this can discourage even the most qualified candidates from applying. Honesty is so important, and it also gives you the chance to get off on the right foot too.
What are you doing to limit employee turnover?
