Have you found yourself with a high employee turnover in recent months, or even years? Sometimes this can be down to employees going off to explore pastures new, while a lot of the time, it can actually be because they are no longer happy working for you and your company.
Your employee turnover is a big indication of how well you are running and managing your business. If your employee turnover is high, it’s going to cost you a lot of money, as well as time training employees – the costs are simply too high and you will eventually make huge losses. So how do you improve this situation?
Below we have some sage advice on improving employee turnover once and for all.
Create Incentives For Your Employees
Creating incentives for employees is a smart way to make them want to stay working for your company. For example, could you give them free gym memberships? Perhaps you could allow them more time off, or even paid time off that you don’t track? Think of incentives that are working for other companies and the ones that you feel will make a big difference to your company. Try to make coming in to work as fun and hassle free as possible.
Don’t Micromanage, But Track Performance
You shouldn’t micromanage, as this gives the impression that you don’t trust your staff and can make them resentful at work. Instead, you want to make sure you’re tracking performance so you can bring it up with them during one to one meetings. This can help them to improve their performance overall, and also gives you the opportunity to praise them on things they are getting right. Check out the various features of performance management tools to make sure you find one that is right for you and what you do.
Give Praise and Recognition
Aim to give praise and recognition as a group and individually. You want your employees to feel seen and heard. Learning their names and things about them can help you to start conversations and take a genuine interest, which will help them to build loyalty towards you and your company. Make sure you practice doing this if you don’t feel comfortable with it right away as it will make the biggest difference.
Make It Easy For Them To Come To You With Problems
You want to make your team feel like they can come to you with any issues they may be having. Conflict in the workplace, broken equipment, and similar things can all cause issues and make coming into work a nightmare. Make sure you have an open door policy, and that they feel comfortable coming to you if they need to. Building up a rapport and nurturing relationships with them will help you to do this. Make sure you do your best to deal with issues swiftly and effectively.
Improving employee turnover can be done. Even if you haven’t experienced a high turnover yet, it’s never too late to make these changes.