5 Effective Strategies to Reduce Employee Turnover
Turnover is not only expensive but can cost you in the form of lower morale, less productivity, and more mistakes. The good news is that with a few proven steps, you can reduce turnover, build a loyal team, and achieve company goals. The following five strategies can help.
How to Reduce Turnover
#1: Create a positive work culture.
When employees enjoy coming to work each day and feel supported by their employer, it goes a long way in creating high retention. A healthy work culture includes open, honest, regular communication, clear expectations and goals, routine check-ins and evaluations, and working with your people to define their career path.
#2: Implement competitive compensation and benefits.
Without competitive pay and benefits, holding onto the best workers is hard. It’s why evaluating your salary for each position, as well as the benefits you offer, on a regular basis is key. This will help to ensure you’re keeping pace with the competition and not losing employees to other companies.
#3: Provide growth opportunities.
Many of today’s employees want to learn and grow. This means access to opportunities for training and development, mentoring, career courses, stretch assignments, and more. Work with each of your team members to identify a clear path ahead in their career.
#4: Offer a work-life balance.
Another priority for today’s workers is flexibility and work-life balance. If you’re able to offer employees the chance to work remotely, or on a hybrid schedule, this is ideal. Another option if that’s not realistic is to offer flex hours when they’re in the office.
#5: Conduct effective exit interviews.
If you do have an employee resign, find out why. Schedule an exit interview, where you can have a candid conversation about why they are leaving and what your company could have done differently to retain them. This is about learning from mistakes and working toward avoiding them in the future.
Is turnover costing your company?
Let Gill Staffing help. As a leading staffing agency serving West Michigan, we can ensure you have talented professionals where and when you need them. We can also give you access to flexible staffing solutions, from contract and temporary workers to temp-to-hire and more. You’ll reduce turnover and keep core employees happy and on the job.
Call Gill Staffing today to learn more.
