How To End A High Employee Turnover

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Are you constantly hiring new employees only for them to leave after a couple months? A high employee turnover can be very stressful to manage as an employee and it could be starting to damage your business in terms of reputation and productivity. Fortunately, there is a way to restore loyalty and get employees staying. Here are just a few ways to stop employees leaving.

Make your hiring process more thorough

You may find that you’re already dedicating huge amounts of time to recruitment, however it’s possibly that you may still not be doing a thorough enough job. Part of the reason that new employees keep leaving is simply because you’re hiring the wrong people. You could be rushing the process and hiring the first person that you think fits the bill. Instead, you should be trying to find as many good employee matches and then interviewing them all in order to narrow down your choice. You could also consider casting your net wider in order to get more applications – instead of just posting an advert on a job board, consider using social media and pinning up flyers and even hiring the help of a recruitment agency.

Get organized

Next, you need to confront the reason as to why employees are leaving. One big motive could be that employees find your company disorganized to work for. By bringing order to your business, you could give employees a greater sense of security. Start using software to help with building rotas and paying staff – this could help you avoid business errors that anger staff such as scheduling conflicts or accidentally underpaying staff (or worse still, forgetting to pay them). Try to give people clear roles and find an organized way of distributing tasks and overseeing them. You don’t need structure everything, but you should try to have some of the basics organized.

Offer more employee incentives

Employee incentives are things that motivate people to stay at your company. There are so many ways to add incentives. You could aim to improve people’s quality of life by giving them employee discounts to certain services, a generous wage, the ability to work from home or even a company car. Alternatively, you could add little luxuries within the workplace to make it a happier place such as paying for employees’ meals, investing in a good quality coffee machine, buying comfortable furniture or simply letting employees joke around and have fun. Make sure that employees also feel their work is rewarding – make your employees feel that their work is making a difference to people’s lives and don’t just focus on the financial gain.

Create harmony between old staff and new staff

It’s important that your older employees and newer employees have a mutual respect for one another. Make an effort of introducing new staff members to the team and dedicate some time to training them so that they feel welcome – even if they have experience in the role, they may be unfamiliar with the way in which your company runs things. When it comes to older staff, try not to burden them with training the newbie, especially if they’ve already got a lot of work on their plate. By doing this, you could make older employees resent the responsibility of newer employees. You can use your employees to help with some training, but don’t over-rely on them. You want harmony in the workplace – not everyone has to be best buddies, but there shouldn’t be camps. If your workforce is divided into small groups you may find that when one person goes from that group, others follow, because that person no longer has anyone that they feel they can associate with.

Reward your employees’ efforts

One of the most basic things you can do to prevent employees leaving is to make them feel as if their work is appreciated. These could be big rewards for meeting big goals such as a monetary bonus or a gift. Alternatively, you may be able to simply thank people and show your appreciation through words when it comes to the small things. On top of rewarding objectives that you set, try to reward intuition and creativity – if somebody thinks outside of the box and their inventiveness pays off, show them that you appreciate this.

Should You Reward Employees?

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We pay our employees to do a job. They are employed and given a wage and stable employment, on the condition that they do that job. It seems simple. Yet, many of us wonder about the prospect of employee rewards. Some feel that they shouldn’t have to reward their employees for merely doing their job. They are getting paid to do it, and that should be reward enough. Other people see the benefits of initiating an employee reward scheme and feel that it often leads to staff doing much more than their basic job. Here are some of the advantages of rewarding your team for their hard work.

They’ll go Above and Beyond

You pay your staff to do a job, and they do it. But, the very best staff do much more than that. They go the extra mile. They provide exceptional customer service. They make great suggestions. They care about your business, and they give their all. Incentives are a fantastic way to promote and encourage this. If you want them to do more than simply meeting the requirements of their job description, then you could offer more than their salary.

Increased Productivity

A fantastic way to utilize an incentive scheme is with competition. You don’t want your staff to turn against each other, so a small incentive like custom gift cards or an extra-long break are perfect. Run contests, give your staff challenges and reward them when they win. This will get them working faster, increase overall productivity, boost morale and improve team spirit.

Loyalty

Staff turnover is very high in many companies around the globe. This is terrible for business. Your team will never get the chance to build relationships, they’ll never receive enough training and experience to be excellent at their job, and they’ll never build relationships with customers. Offering small rewards, bonuses or incentives can hugely increase staff loyalty. They’ll want to stick with you for longer because they feel valued and appreciated.

You’ll Save Money

This decreased staff turnover can save you an awful lot of money. Sure, you might be spending a little on the incentives on offer, but did you know that the average cost of turnover for one employee is between 150 and 250% of an annual salary? Keep your staff, spend more time and money on them, and you could save a fortune.  

You’ll Build Relationships and Respect

Running a business isn’t all about numbers, sales, and customers. The very best managers and business owners know how to manage people. They understand that it’s their staff that make their businesses work and that a good team can be the difference between making it big and going bust. To have that great team you need to build relationships. You need to understand them, and to trust them. But, you also need their respect. Many managers try to be too friendly with their team, and lines get blurred. Respect is lost, and the company suffers. Incentives and rewards give you a great way to start building the right kind of relationships with your staff. They’ll want to work for you, but they’ll know who is in charge.

At the end of the day, it’s up to you. No one can tell you that you should reward your staff, but it can have some fantastic results.