5 tips to reduce staff turnover
Is staff turnover one of the most important challenges faced by your company? Here are 5 expert tips to convince your employees to stay in the organization and motivate them to perform in the long run.
1. Make sure you hire the right people
…for both the positions they are going to occupy and the culture of the organization.
Preliminary testing of professional skills is certainly the most important. However, beyond these skills, it is largely important how well new employees can integrate into a company’s specific work environment.
Many times, employers have noted that an important source of staff turnover is precisely the conflict between the values of newcomers and the values already existing in the culture of an organization.
Thus, during the recruitment process, the phrase “the right employee” must also reflect their ability to successfully perform the responsibilities of their professional positions and their willingness to adapt to an existing work environment.
2. Stimulate potential and initiative
…more than you would be tempted to normally. It is important for your employees to feel comfortable with their work and be stimulated to come up with their own input.
Freedom to express themselves and the opportunity to put their initiatives into practice will increase their degree of responsibility and, subsequently, loyalty to the workplace.
Daily routine is a certain source of saturation that most often justifies staff turnover.
By encouraging initiative and expression of their real potential, employees break the routine, making a valuable contribution.
3. Offer a motivating compensation package (+benefits)
…to realistically compete with other offers on the market.
Your employees are constantly interested in knowing whether they are paid at their real value and whether the company has a wage renegotiation policy in place.
Make sure that you have a recurring evaluation program that accurately reflects financial market trends and, especially, takes into account performance at work (both at the individual and team level).
4. Create a career development system and a development plan…
…which are clear to all your employees from day one.
Long-term stagnation in a position is one of the main concerns of employees.
Beyond the daily routine, the lack of career advancement perspective is associated with capping and minimal chances of gaining benefits that would provide them with financial comfort.
A viable career plan is recommended to consider employee’s past performance, personal priorities, preferences and family context.
It makes sense to build such plans on performance ratings and frequent discussions, so that offers and expectations are well calibrated.
The existence of such a career plan will increase employees’ involvement and will give them more reasons not to migrate to another company.
5. Offer the possibility of flexible hours
…to respond realistically to the demands that may come from their personal life. Contrary to expectations, such a benefit can prove to be a powerful tool to reduce staff turnover, and will not affect your activity and goal achievement, as long as it is properly managed.
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