Preventing Employee Turnover
It’s natural for any company to experience periods of turnover. As employees grow in their positions, move their families, or retire, a company will experience the need to replace members of their team. That being said, sometimes companies are faced with an unusually high turnover rate. We’re going to take a look into what causes that to happen and how you and your company can prevent it. Let’s get started!
All employee turnover can be classified by voluntary rotation and involuntary rotation. Voluntary rotation is when an employee leaves your company for reasons like career growth, higher pay, work disputes, and etc.…. Involuntary rotation is when layoff or firing causes the loss in employment. Obviously, both of these can be detrimental to your company and must be managed effectively.
Why People Are Leaving
When a high turnover occurs, management is often scrambling to find the root cause. We’ve identified several major factors in employee turnover so you can spend less time on raking your brain trying to figure out what’s going on and more time solving any problems.
This is a big reason leave companies. No matter how great your company, how competitive your ay is, or how awesome your work environment is, if there’s no room to grow then people will move on. Not every company or position has room to grow an employee’s career, so how do you deal with this problem? We’re glad you asked. Creating incentives like training, bonuses, and benefits, mitigate employees feeling like they’ve hit a brick-wall with their growth. By giving them things that move their sense of accomplishment forward you give them a sense of upward momentum.
Salary Isn’t Working
Your employees aren’t stupid. Sooner or later, they’ll realize that they’re being underpaid for their work. With so many online resources nowadays, there’s no hiding salary averages. The quickest way to lose a great employee is to pay them less than they could expect to make anywhere else. Even if your short on profits, investing in a fair salary for your employees will ultimately yield great results. A good salary not only encourages the best applicants to apply for your open positions, but also encourages great employees to stick around. What’s cheaper a bump in salary or time with no one filling that crucial position?
Management and Work Environment
Some disagreements are normal in any job. However, when management is constantly at odds with their employees, there will be turnover. A system that is organized and has clear structure will always yield better results. Additionally, by fostering an environment of respect and appreciation, employees will be on the same frequency of goals management has for the company. Spending time to build team camaraderie and host team-building events is worth exercising. The better your team gels together, the better they’ll be at promoting and growing your business.
Turnover can be a scary thing. When employees leave in mass, it can seem like your company is doomed. By examining the causes of turnover, you can make the necessary fixes or even prevent it from happening in the first place. Your employees are the backbone of your company, make them feel worthwhile and your business will go to great places!
When you’re looking to staff your team with the best professionals in your industry, look to JōbSource to help. We make staffing easy. With years of experience and talented recruiters waiting to help, you can’t go wrong by giving us a call!