Whenever you have an organization, you are trying to turn a profit or reach your mission in some way. And that requires having the right employees on board who can help you make that happen. There’s no way that your business can be truly successful without other people on board, especially if you have a growing business or an established large business.
However, many companies nowadays are dealing with high employee turnover. Employees are leaving for one reason or another, depending on the company. This is something that can lead to the downfall of your organization in the long-run if you don’t be careful and find a solution that can work for you. Make sure to keep reading down below, where we’re going to go through the top ways that you can reduce your employee turnover and keep more employees around who actually are helping out the company.
1. Hire the Right People in The First Place
The first thing that you’re going to have to think about when it comes to keeping your employees right where they are being hiring the right people in the first place. Without this step, there’s no way that you’re going to be able to work on your employee turnover problem. You should be working hard on improving your HR process of hiring people to become part of your team. You should have a pretty intensive process that weeds out those people who just wouldn’t fit in your organization and are more likely to leave earlier than they should. Plus, when you do this and you get the right employees on board, you’re going to be much more productive as a company and find success much quicker than you would with the wrong employees.
2. Fire Those People Who Don’t Fit Your Organization
In addition to getting the right employees on board, it’s best to let go of those employees who just don’t fit into your organization. Every business has those people who are just not doing a good job or you found out that they’re not a good fit. When looking to improve your turnover rate, it’s good to go ahead and get rid of those employees, so your great employees can have the room to grow and push your company forward.
3. Keep All of Your Compensation and Extra Benefits Current
If you are not currently providing your employees with good enough benefits and a fair wage, can you really blame them for leaving you behind and joining another company that actually pays them fairly? Of course not! You should be making sure that your compensation and benefits you provide to your employees are up-to-date and reflect the real needs of your employees. To make it easier, invest some time and money in equipping your organization with an employee benefits administration software. This will keep them with you for the long-run, trust us!
4. Encourage Generosity and Gratitude
One of the best things you can do for your employees is to encourage them to show off gratitude and be generous with the management and other employees. This will improve the entire feeling of the whole office and make employees much happier when they spend time at work. You would be surprised at how much these positive feelings are going to decrease the amount of turnover that you experience.
5. Be Sure to Recognize Your Employees for Their Hard Work and Reward Them
Of course, one of the most important things that you can do to keep your employees on board is to recognize how hard they are working and reward them for that hard work. There are plenty of different recognition and reward systems that you can implement – it’s completely up to your company which one you will go with. You can reward them with cash bonuses or more days off or a party in their favor. When you let employees know that their hard work doesn’t go unnoticed, then their more likely to stick with you in the long-run.
6. Offer Flexibility for Those Employees That You Have
It’s been shown time and time again that employees want to have a flexible work/life balance. They don’t want to spend their lives stuck in a cubicle from 9-5 and have to go home just to do it all over again the next day. Employees really want the flexibility to work where they want, when they want, and get to make their own work schedule and work life. When you offer this to your employees, you may think that this is going to cause them to work less hard, but that couldn’t be further from the truth. Your employees are going to be super happy and hard-working when they realize they can be flexible at work from now on.
7. Pay Attention to Employee Engagement
You should be keeping your sensors on at work at all times to check your employee engagement levels. As a boss, you are going to be able to tell when something is off with your employees and when they are not doing so well or that they are unhappy with the situation. When this happens, be sure to get to the bottom of it ASAP in order to work on those turnover rates.
8. Prioritize Employee Happiness in Your Company
Your C-level execs might think that employee happiness is just a sound-good thing that you don’t really have to focus on. However, that’s not good for business. When your employees are happy, they are going to be more productive and help to push your company forward. When they are not happy and satisfied with their work, then they are going to be a negative force in your company and leave early. Make sure that you know how important it is to have employee engagement and happiness programs in place.
9. Make Opportunities for Development and Growth
It should come as no surprise to you that employees don’t want to stay in the same position they have been in for years and years. Employees want the opportunity to grow and develop in the company, even beyond their job description. It is crucial for any kind of organization, even a start-up needs employee training. Make sure that you are giving your employees the opportunity to develop through classes, online education, and job training sessions.
10. Be Sure to Clean Up Those Performance Reviews
If you are using performance reviews with your employees, then there’s a high chance that you’re doing them wrong. Many employees find that the performance reviews that they go through are not helpful for their development and progress checking. Make sure to take a hard look at the performance reviews and ensure they are a time for you to build trust with employees and actually help them develop.
Each of these points are super important for you to consider if you really want to improve your employee turnover rate and get more employees sticking with your company in the long-r