High employee turnover is generally considered bad for any organization. It can lead to low-quality performance and unmet goals in the workplace. As there is no certainty that all company roles will be filled daily, businesses are compelled to hire and train new employees constantly.
A common downside of employee turnover is high costs. It’s more costly to lose workers and hire new ones than retain older employees, according to Chron.com. If your brand has been experiencing high turnover for the past few years, now is the best time to explore smart retention strategies.
How do you keep your workers so you can have a happier, more productive 2017? Check out the methods outlined below.
Be flexible with your employees. When we think of work flexibility, we associate it with working from home. Flexibility at work also happens when top managers allow staff members to bring their work with them as long as they’re connected to the Internet – at the cafe or while on a vacation. People feel empowered to produce better results when they’re given the autonomy to work according to the time and environment in which they’re most productive. Flexibility appeals most to the younger generation workforce: millennials.
Engaging your team. Are your staff members enthusiastic at work? Signs of team engagement include (but are not limited to) a high employee retention rate, creativity among workers, and team participation at after-work activities. Another noticeable indicator of engagement in your company is few complaints about workload. When your employees feel that they play a significant role in your company’s growth, you can always expect better service and profit.
Fulfill your workers’ job expectations. One reason why companies experience high employee turnover is that they lead employees away from their initial job description. Employees expect to work according to the position they applied for. When they are expected to keep up with responsibilities that are not in line with their strengths and interests, they lose the drive to perform. Being a truthful employer helps build your credibility and creates positive relationships.
Encourage work-life balance. Does your management honor work-life balance? Work-life balance is more important to employees than most people admit. Be sure to detect signs of burnout among your staff as early as possible. If team members are often irritable, less energized, and frequently complain of headaches and body malaise, you need to do something about your management style. Allow your employees to take a day off and de-stress. As much as possible, avoid bombarding them with new projects.
Organize company outings. Company outings are a great investment because they allow your team members to relax and have fun while improving professional relationships. It’s beneficial to take breaks, especially if you work in a corporate environment where everybody’s pressured to deliver daily. Let your staff members have drinks together, share snacks, and have a karaoke night. You might even visit parks and other natural settings to balance the work environment. Employee turnover can also result from relationship barriers at work. The American Psychological Association states that friendships established in the workplace can lower people’s stress levels and help maintain their commitment.
Prioritize your employees’ health. If you believe that health is wealth, then you understand how important it is to prioritize your workers’ well-being. Not all companies offer health benefits for their employees, which may explain why some people leave to seek better opportunities. If your organization can’t afford to pay for your employees’ health maintenance, consider scheduling weekly fitness classes or charity runs to help everyone loosen up and release stress. Healthy employees are less likely to be overweight and are generally happier at work.
Provide growth opportunities. People are most attracted to jobs they know offer opportunities for personal and professional advancement. Boost your team members’ performance by defining your organization as one that values growth. Whether it’s by providing a salary raise or promoting a top-performing individual, you’ll motivate your employees, which leads to satisfying business outcomes.
To run your organization successfully, always put your employees’ welfare first. Never undermine the value of your staff members and realize too late that you’ve been wasting resources due to poor management.
For more on this topic, see 17 Shocking Truths About High Employee Turnover.