Having a high rate of employee turnover is a serious problem for companies, both economically and because of the image that the employer is projecting in the market.
At an economic level, it supposes a cost that cannot be recovered, because the hours invested in the training of personnel who leave the company are hours that become a direct expense.
Without counting the cost of the search and training of the new personnel that will occupy said vacancies, in addition to the decrease in productivity while the position is not filled.
What causes employee turnover?
We will always have a tendency to think that the employees we hire have no desire to leave our company unless it is to be able to grow elsewhere. However, in the vast majority of cases, it is a bad experience within our organization that pushes professionals to change course.
Although the drivers of churn may look and feel different from company to company, there are some common threads that are beginning to emerge. In general terms, the reasons that lead a worker to make the decision to leave are often repeated in organizations of all kinds, and this is reflected in the aforementioned report.
Among the most important reasons we can mention:
– Disagreement with the type of contract and/or salary.
– Little or no professional projection, the employee feels that they cannot grow.
– The worker does not identify with the values/objectives of the company.
– The selection process was poorly focused, and wrong.
– Bad economic moment, weighs the context.
– Bad working environment.
– Difficulty combining work and personal life.
Reducing employee turnover is a big challenge, however, the following tips can help you:
Tips to help combat employee turnover:
Keeping staff turnover rates low is an essential task in companies. But it is also important to be able to hire new workers who contribute to professional renewal. Since this causes them to introduce innovative ideas to the company.
Well, check out the below tips to help combat employee turnover.
1. Detect the causes of staff turnover
The highest turnover rates are probably concentrated in certain positions, so it is important to know the factors that are influencing employees to consider leaving the company.
Support yourself with a small survey, interview some people in the area and make a list of the issues that bother employees the most. When a collaborator resigns, investigate the reason why they are leaving the company.
Some opinions may help you detect problems that you had not perceived. After making these diagnoses, develop a series of strategies to keep your team together.
2. Analyze whether the remuneration received by your collaborators is adequate
Poor compensation is a factor that discourages employees. Analyze your remuneration system and the evaluation of jobs to adjust it to the market and the needs that you have. In this way, you will prevent your employees from perceiving injustice and being tempted to look for work elsewhere.
3. Balance workloads
In every company, there are collaborators who have a higher workload than others because they are more trustworthy people, they do a better job, etc. However, by loading them with work we are leading them to exhaustion, which is not good for them, nor for the company.
4. Train and define growth plans
Your employees have basic needs and a desire to grow. If they do not have opportunities for growth in your company, they would feel stagnant. Treat your employees as assets of your company, and invest in their training and growth so that they feel valued and more motivated.
Besides, you can introduce wellness plans for your employees. Support for mental health, yoga or pilates classes, energy breaks, and discounts at health centers or gyms – these are just some ideas to help improve the health status of your workforce. Such things not only increase loyalty to the company but also, in the vast majority of cases, contribute to establishing a community among employees.
You can organize office parties, celebrate people’s birthdays or hold random get-togethers. You may go even further, and find some new bits of information about your employees on Nuwber, be it their date of birth, city of birth, or some family details. That will help you approach them more closely and find things to celebrate and share with others.
5. Your middle managers influence the climate of the team
Make sure that your middle managers have leadership, communication, problem-solving, teamwork, recognition, motivation, workload analysis, task distribution skills, and, above all, that they know in detail the work carried out by their subordinates.
Many times, workers do not have much decision-making power over their contract terms. Offer mid-level or senior employees the space to introduce new clauses or modify existing ones. This not only makes them more responsible about their commitment but also provides a freedom that is not common to find everywhere.
6. Hire collaborators suitable for the positions and the company
It is very important that during the selection, you make sure that the personnel you choose to fill the vacancies in your company, in addition to having the technical knowledge, have values and goals compatible with the position, as well as with the culture and philosophy of your company. If you choose people just to fill the gaps, you’ll pay a price later. It’s not economically beneficial in the long run.
7. Telecommuting and flexible hours
With or without a pandemic, the home office is one of the features most and best valued by workers. Along with flexible hours, these two allies make combining professional and personal life a much easier task. In this way, it will be possible to increase the productivity of the workers and therefore that of the company.
Put these tips into practice and you will notice the difference!
Talent retention is a fundamental aspect to reduce the staff turnover rate. Our workers are an indivisible part of the core of a company and constitute, in fact, a competitive advantage.
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