Start typing and press Enter to search

Tips to Reduce Employee Turnover

Tips to Reduce Employee Turnover

Employees who are well-compensated, challenged, engaged and properly managed will likely be loyal, productive members of your workforce…

High employee turnover concerning you? Let’s look at the reasons and remedies.

Employees are motivated by higher pay. Keep tabs on what compensation is offered by your competition, and offer comparable benefits packages. Try conducting annual wage and salary surveys to get insight into your employees’ outlook on pay.

Better Benefits

Workers can be motivated by better benefits — offer additional perks:

  • Flexible schedules.
  • Remote work privileges.
  • On-site fitness room or day care.
  • Discounts on services or travel.
  • Employee assistance programs.

To help employees fully appreciate how you’re rewarding them, try providing each employee with an annual statement of total compensation that shows all their wages and benefits that can be translated into dollar amounts, showing employer contributions to:

  • Benefits premiums.
  • Retirement accounts.
  • Paid time off.
  • Stock options.
  • Educational assistance.
  • Adoption assistance.

Engagement Strategies

Could it be that your employees are not “engaged”? This may sound like another corporate buzzword, but engaged employees share a number of common traits:

  • They seek out challenging work.
  • They’re good at resolving and/or finding solutions to problems.
  • They share ideas and solutions with colleagues.
  • They offer support to colleagues who are busy.
  • They seek out training and development opportunities.

Here are some of the things you can do to improve engagement:

  • Offer team-building activities.
  • Let employees contribute in big ways when possible, and highlight the impact they’re making on your company.
  • Communicate with your employees regularly, and have an open-door policy.
  • Make sure your managers take a proactive approach to employee relations. Create opportunities for everyone to spend time together discussing goals, sharing successes and providing feedback that reinforces your company values.
  • Assign employees to a special project or put them in an expanded role. Build in opportunities for employees to cross-train one another.
  • Ask yourself these questions: Are the right people in the right roles? Do you have too many people for the amount of work that needs to be done? Do you need to reorganize? Are your people getting the feedback and recognition they need?
  • Manage your managers. Make sure brand-new managers have the tools and resources necessary to succeed.
  • Provide training and development opportunities designed for your supervisors.
  • Make sure that your employees have appropriate ways to communicate feedback about their managers.

By understanding the common reasons for high employee turnover, you will be better able to protect your business from a similar fate. Employees who are well-compensated, challenged, engaged and properly managed will likely be loyal, productive members of your workforce.

Check out more trending topics and resources on Employee Engagement.

Copyright © 2019

Reply a Comment

SUBSCRIBE

GENERAL DISCLAIMER

This blog is for informational and educational purposes only. It does not constitute legal advice, and cannot constitute legal advice, because the authors are not licensed attorneys. Readers should not rely or act upon any information presented on this blog without seeking professional legal counsel. The views expressed in each post are those of the author, and the author alone; they are not the views of Ahola. The information provided in this blog is general, and based on information available as of the date of publishing. Information herein is provided on an “as is” or “as available” basis; we make no warranty of any kind to you regarding the information provided and disclaim any liability for damages from use of the blog or its content. Please consult an attorney to obtain advice with respect to any particular question or issue.