A high staff turnover can be devastating for your business. If you constantly have employees coming and going, it costs you a lot of money in recruitment, onboarding new hires, and lost productivity. When employees don’t seem to be staying for long, it can be confusing. Maybe you feel like you’re doing everything right but still, no one is sticking around to become a valued member of your community. The truth is that you probably need to take a good look at how you’re doing things and find out exactly why your employee turnover is so high.
There are many things that could discourage people from staying with your company, but there are also plenty of ways to encourage them to stay. If you want to make sure your employees stick around for longer, this guide will provide you with some tips for getting it right.
Start with the right hires
Before you do anything else, you need to make sure you’re hiring the right people. You might be providing desirable work conditions but perhaps you’re not choosing the right candidates when you’re recruiting new hires. You need to ensure you hire people who are a good fit for your company, so don’t focus solely on whether they have the right skills. New skills can always be learned with the right attitude and aptitude. Of course, if you have an existing turnover problem, it’s easy to blame the problem on hiring the wrong people. However, the issue could easily be elsewhere, so it’s important to explore other potential causes too.
Offer competitive compensation
To hire the right people, you have to make them want to work for you. Don’t make the mistake of thinking that the right people will be enthusiastic about working for you no matter what you offer them. Even if they’re interested in what you do and the role you’re offering, they still want to know that they’re going to be paid well and get important benefits. If you don’t offer that, they probably have other options that will. It’s important to research your competitors or companies offering similar roles and understand what the going rate is for the skills and experience that you’re looking for.
Manage your employees’ time
You value your time as someone in business, but your employees value their time too. One of the things that they need to know is that you’re able to manage their time well, including offering them shifts when they need them and managing their time off. There are plenty of tips for shift planning that can help you to organize your business’s time and your staff’s time. You can make sure your required shifts are always covered and that your employees always have work when they need it, as well as time off when they don’t. The right tools will definitely help you to improve things.
Provide flexibility and work-life balance
Another way you can help your employees to manage their time is by prioritizing flexibility and work-life balance. Even people who love their jobs still want time for their friends, family, and commitments outside of work. They want to be able to fit their work and personal lives around each other. As their employer, you can help with that by offering flexible working and ways for your employees to maintain their work-life balance. That could include allowing them to decide when to start and finish work, making it easy to book time off, and even being understanding of parenting and caring obligations.
Recognize and reward staff
Everyone likes to receive praise for their hard work. If your employees don’t feel like they’re getting the recognition that they deserve, they could easily decide to jump ship. It’s important to make sure you’re rewarding them for a job well done and recognizing the hard work that they put in, whether it’s simple words of praise at the end of the day or rewarding people with bonuses, gifts, time off, and staff vacations. Even more casual types of recognition can help to ensure your employees feel appreciated and know that their hard work is being noticed.
Have a conflict resolution process
One of the reasons some people may choose to leave a job is because of other people they work with. It may not even necessarily be that they don’t get along with someone but that they feel their employer doesn’t do anything about it when there’s a conflict or complaint. A conflict resolution process can help employees to deal with any problems that they might have between them. It can help to deal with minor problems and also help you to identify more significant issues and problem employees who may need to be retrained, disciplined, or even let go.
Keep employees engaged
Employee engagement is one of the key issues that employers need to address. If your employees aren’t engaged, they probably won’t be very productive. They’re also more likely to get bored and less likely to care about their work. They could end up looking for employment elsewhere because they don’t find their work with your company fulfilling. Maintaining employee engagement can be tough, but there are various things you can do. One of the most important things to do is ensure your employees have a good relationship with their manager. Even if the work itself isn’t engaging, good relationships can make a big difference.
Create paths to promotion
Many people want to know that there are ways for them to advance in their current job. Even if there isn’t a clear path to promotion, they may want opportunities to do new things, learn new skills, and take on different responsibilities. Ensuring your employees have the option to advance in their careers can help to keep them engaged and invested in your company. They know that there is a future for them with you if they want it and that their hard work and dedication could really pay off. Promoting people internally can help you to promote loyal employees who want to continue working for you for a long time.
Listen to employee feedback
When you want to know what more you can do for your employees, it’s always important to listen to them. Collecting employee feedback will help you to gain a better understanding of what you’re doing correctly and what you could improve. Listening to your employees is invaluable if you want to make conditions better for them and encourage them to remain in employment with you. There are various ways you might collect feedback from employees, whether you ask them face-to-face or allow them to submit feedback anonymously. You might ask them for comments and suggestions during performance reviews or have a suggestions box for people to contribute to.
Conduct exit interviews
Sometimes you will lose an employee because they’re moving on to something else. It can be disappointing, but it’s also another opportunity to learn and improve. They might not necessarily be leaving because they dislike their current role, but they could still have some valuable advice and information for you. Conducting exit interviews can help you to understand the reasons people may have for leaving and whether there’s anything you could do to get the next person to stay. Exit interviews are often voluntary, but they can be a good chance to ask why someone is leaving and get feedback on their employment experience.
A high employee turnover is an inconvenience for your business, but there are steps that you can take to improve things and get employees to stay for longer.