We all know the cost of employee turnover is high. If you want some quick tips on how to reduce the rate of turnover, take a read below! If you need any support with hiring, onboarding, training or employee feedback then you know who to call. We have fully customize-able services so that we deliver what your organization really needs to decrease employee turnover!
Excerpt from article below or full piece by Nora St-Aubin here: https://www.officevibe.com/blog/how-to-calculate-employee-turnover
As the saying goes, prevention is the first solution. Focusing on employee retention by increasing engagement and growth opportunities will help you to reduce your organization’s turnover rate.
So how do you reduce employee turnover in your company? We have some ideas…
Improve The Hiring Process
The hiring process is where it all begins, so it’s important to get it right. Ask questions about who your candidates are as people in your interviews, not just their technical experience, and have them perform a “work sample” test with a few members of the team to see how their skills and personality integrate. Having a more thorough hiring process will benefit you in the long run.
Improve The Onboarding Process
As much as 20% of employee turnover happens in the first 45 days, and a big part of that is due to an improper onboarding. Be sure to set proper expectations, make them feel welcome, collect feedback and touch base with them often with weekly check-ins. Try having a team lunch within the first week of onboarding a new employee so they can get to know everyone.
Set Clear Goals And Expectations
If employees don’t have a clear vision of their role, it can lead to disengagement and underperformance. Making sure that each employee has a mutual understanding with their manager of their roles and responsibilities is crucial to keeping them on track, and keeping them around.
Of the new managers we recently surveyed, 66% said that they did not receive any training or coaching before starting out as a manager. Offering training for managers is one of the best ways to ensure that they are a successful team lead. Some people may be born leaders, but there’s always room for learning and development.
Give Opportunity For Growth
What employees really want, as made famous by Dan Pink, is autonomy, mastery, and purpose. You can provide these things for your employees by empowering them to take charge of their own work and offering skill development and training. Having a clear company mission and company values will help employees feel that they are a part of something bigger, giving them a sense of purpose.
Recognizing employees is such a simple way of boosting their motivation and engagement, and making them feel valued. Employees also want to receive recognition from their coworkers, so setting up a platform for kudos is a great initiative to boost morale.
Promote Work-Life Balance
Work-life balance is one of the most important parts of keeping your employees happy, healthy, and productive. Be flexible with employees working remotely and ask new hires what the most important thing in their personal life is and how you can accomodate them best.
Collect Frequent Feedback
Employees want to feel listened to and have validation that their opinion matters. Checking in and seeking feedback on a regular basis allows managers to detect problems early and implement solutions.