Your business loses significant amounts of money, every time a key employee leaves. Indeed, it takes a great deal of time, effort, and hard work to find someone to replace them, and even more time, effort, and resources to train the new person to a level where they can work effectively in your organisation. With that in mind, taking steps to reduce staff turnover can help you save money and resources, as well as minimise any possible dips in productivity. Read on to find out how.
Let people go that aren’t suitable
It may sound counterproductive to get rid of staff when you are looking to reduce your turnover. However, it can be a very effective measure over the long term. The reason for this is that when you have people that don’t fit in with your culture and are unhappy they will be bridging those that work with them down too.
Indeed, to minimize the negative effect such people can have on the rest of your workforce, it’s best to let them go as early as possible. Of course, this still means you have to follow proper protocol. After all, it will do nothing to motivate your staff or help with retention to see you treat people unfairly, even if they aren’t a good fit.
Take care of employee wellbeing
The old view that employers are doing a favour to those they employ needs to go. Instead, it must be replaced with the idea that if you want a tour company to succeed, and if you want to keep the best people, employers must do all they can to promote happiness and wellbeing.
In particular, strategies like wellbeing audits and mental health workshops like the ones offered by Amba can help you identify and prevent employee unhappiness from becoming a significant problem in your workplace. Indeed, by being proactive about uncovering any problems your business has in these areas you can prevent them from spiralling to a point where they encourage staff to leave.
Prioritise compensation and benefits
None of your employees are working for you, purely because of the joy of the task. They will expect decent compensation for the effort they put in. Indeed, the difference between keeping the best people over the long term and losing them to your competitors can be as simple as not providing a regular pay increase.
To that end, be sure to keep up with industry norms on salaries and increases and where possible offer additional, relevant benefits to your staff. Such benefits may include private medical or dental insurance, recipe boxes, free gym memberships, and the like.
Provide flexibility at work
Many employers expect their workers to drop everything to cover gaps in staffing, overtime, and busy periods. However, when employees need time to do things that are important in their own lives, businesses tend to be much less amiable.
Of course, by offering as much flexibility within each specific role as possible, you can help keep your employees happy and motivated, and much less likely to look elsewhere for work. To help facilitate a more flexible approach you can use scheduling software that allows users to automate swapping shifts or advertising shifts that need to be filled to your whole team without adding to your supervisor’s workload.