Employees are the backbone of any company, and whether your company’s employees number fewer than ten or into the thousands, your human resources department should strive to reduce turnover. The positive outcomes of a low turnover rate include lower costs, a positive company culture, and employee loyalty. As a human resources professional, you’re especially suited to the task of avoiding high turnover by maintaining employee satisfaction.
Creating a Better Workplace
A healthy work environment and the right incentives make for happy employees. When employees are content, they’re dependable not only in their daily capacities, but also in their long-term commitment to your business. A high rate of turnover can detract from your ability to attract new, highly qualified talent—the very individuals you want working alongside you for years to come. To reduce turnover, your human resources department should implement exit surveys and read them. They’re valuable resources in pinpointing widespread issues. For example, if a disproportionate number of departing employees cite lack of recognition, unfavorable coworkers, or workload versus pay, then you’ll have a general idea of where to focus your efforts.
Once you’ve uncovered the issues at hand, make attempts to resolve them to reduce turnover. If employees feel unacknowledged, reward a worker’s great performance with high-level responsibilities, such as a project or committee, as a show of faith. Rewards aren’t always about the monetary sum. A simple thank-you note or conversation can be just as meaningful and help reduce turnover. Alternatively, a lack of communication, especially with the higher-ups, is all too common. In these cases, advise supervisors to incorporate feedback from employees and even seek their advice when appropriate. These measures will make workers feel that their contributions matter to the success of the business, and a valued and visible workforce will reduce turnover.
Hiring (and Firing) for Retention
Sometimes you need to weed out unenthusiastic, uncommitted, or unqualified employees from the get-go to reduce turnover. By paying careful attention during the hiring process, you can easily gauge a recruit’s sincerity and level of interest in a permanent office position. In addition to an accurate employment history and social security number, request contact info for personal and professional references and follow up on them. Skills testing and personality questionnaires are also useful for determining whether an individual can perform the required job duties. Additionally, competitive pay and a great benefits package go a long way toward luring talented and devoted candidates who will stick around for the long run. When you hire the right people for the job the first time around, you’re less likely to have to replace them down the line.
Companies that make employee satisfaction a mainstay of their business philosophy are at an advantage. They don’t have to budget for or manage a revolving door of new employees, thereby minimizing conflict and increasing productivity. A low turnover rate through high employee satisfaction should be an ongoing goal for your human resources team. Smart hiring, good incentives, and active engagement will help you reduce turnover.
Guest Author: Nancy Anderson is the communities and article Editor for Beyond.com. Nancy has 10 years experience in the online job search business with Beyond. Nancy’s team produces dozens of articles every month for top internet sites. Follow Nancy and the Beyond team on https://twitter.com/BeyondJobs.
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