It is one thing to leave a company due to relocation, but there are facts when employees were fired due to non-compliance with labor discipline. This means that you need to pay attention to other applicants, clearly define the requirements and rules, and prescribe sanctions for non-compliance with the conditions.
It is also recommended to raise the salary bar so that employees are motivated not to move to competitors where work is valued higher. Using simple formulas, you can answer the question of why there is staff turnover in the company and take action.
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How to Reduce Employee Turnover
The level of employee turnover depends on many whatsapp number australia factors, and it is definitely not just about salary levels. It is more influenced by the overall work environment and the conditions you create for your employees.
Employees feel comfortable when the environment is conducive to achieving their goals. The best employees are those who share your company's mission and values.
Common tips that can be given to reduce employee turnover rates include:
Hire people who best fit the requirements of the vacancy. Test employees' abilities in practice, immediately including them in teamwork. An interview is necessary to understand the views and assess the personal qualities of a person, but as a professional, he will be able to prove himself only in a team.
Give preference to professionals. All work processes are built on these people, so make sure that they will constantly develop in your company.
Offer better conditions. If you can't raise your salary, attract them with preferential conditions, discounts, offer social security. Some people may be satisfied with a flexible schedule, the opportunity to take time off and participate in corporate events. Many companies pay for their employees to go to the gym and even visit a psychologist. Invest in development, not just in the image of your company.
Create conditions for knowledge sharing. Organize master classes that employees will conduct for each other, encourage a mentoring system.
Respect your employees and demonstrate your loyalty. The team will repay you in kind. If you learn to listen to others, you will be taken into account. Do not humiliate or shame your colleagues, and point out their mistakes correctly.
How to Reduce Employee Turnover
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Praise is very motivating. If a person does a lot for the company, appreciate it. A financial bonus is not as important as recognition of a person in the team.
For many, work is practically a second home. Therefore, create comfortable conditions for development. Then you will not be threatened by staff turnover.
Let your employees feel work-life balance. Give them the opportunity to enjoy their work, but don’t forget that everyone should have a personal life.
Solve complex problems together with your employees, you need to manage alone, but sometimes it is important to hear an outside opinion. Let people in the team feel that their words are listened to. Discuss values and goals, write about this on behalf of the company openly on your portal or in an e-mail newsletter.
Encourage high performance and tie rewards to this metric. Key employees will stay motivated if they see that their efforts are appreciated and rewarded.
Organize joint events where you sum up the results and talk about the successes and achievements of everyone involved.
Try to gather the team at evenings, meetings, master classes. Be open to new things, take into account people's interests when organizing joint leisure.
Help with organizing training, encourage the desire for new knowledge.
Don't be afraid to give challenging tasks to new specialists. With the right mentoring, you can increase the level of responsibility in your employees.
Download a useful document on the topic:
Checklist: How to Achieve Your Goals in Negotiations with Clients
Frequently Asked Questions About Employee Turnover
If you are constantly faced with resistance to change, it is worth talking to dissatisfied employees and offering comfortable terms for parting.
Why is the turnover rate needed, what does it mean?
The turnover rate is the ratio of the number of employees who leave to the total number of employees on the team, expressed as a percentage.
Most often, this indicator is assessed quarterly, half-yearly, and annually. Frequent calculations are not advisable, as they can lead to unrepresentative data. For example, in January and May, layoffs are rare, as employees are waiting for annual bonuses or going on vacation. However, this does not mean that the turnover will remain at the same low level in other months.
The fluidity coefficient will allow you to find out:
Do employees like working for the company?
Do employees respect their boss and his values?
does the company have employee retention methods and how effective are they;
Can a company move to a new stage to achieve high performance?
If you can predict what the turnover rate will be in the next period, you will be able to understand how comfortable the company is for growth and development. This will help prevent future layoffs.