A high staff turnover can have huge negative effects on your business. It can damage your company’s productivity and your reputation. Stopping the cycle of employees coming and going isn’t easy and could be a multi-stage process. Here are just five ways to help end your company’s high staff turnover so that employees want to stick around and so that you no longer have to spend time and money on recruitment.
Bring in company perks and incentives to keep employees loyal
Company perks and incentives are essential for keeping employees loyal in most jobs. Ongoing perks could include a high salary, healthcare benefits, flexible hours, a generous amount of holiday or a company car. Such perks are particularly needed if the work itself is repetitive and menial.
You may also want to offer benefits that only come in after working at the company for a certain amount of time. This could include new freedoms such as being able to work from home, a pay rise for employees that have been there for over a year or the chance of a promotion. The opportunity of progression and long-term rewards can make your employees more eager to stick around knowing that they have something to work towards. Being able to vary up the work could also be important so that your employees don’t feel they’re trapped in a routine – allow employees to take on new responsibilities once they’ve worked a position for a certain length of time.
Take measures to ease the workload for your team
Overworking your employees could also lead to a high turnover. If the demands of the job are too stressful and don’t warrant the rewards, employees will leave to look for something less stressful.
A high turnover can often leave many companies permanently understaffed – therefore upping the workload for everyone – however you can find creative ways to deal with this. For instance, you may be able to pay a little extra to outsource certain tasks or you may be able to buy tools that automate certain tasks previously done manually. If this isn’t possible, consider taking on less customers – whilst this may reduce your overall profits, it could make work more manageable and convince your employees to stay, which could save you costs in not having to recruit new staff. Reducing the workload is something that your employees will appreciate, and they’ll be more willing to continue working for you knowing that you care about their concerns.
Show small signs of appreciation to your staff
Small signs of appreciation may also make your employees feel valued enough to prevent them from wanting to leave. This could include thanking your employees, praising them for small achievements and asking for their input in decision-making. Some of the most effective ways of showing appreciation include praising employees in front of customers and sharing positive customer feedback with employees. If your employees feel appreciated, they’re more likely to care about you and your company.
Improve the recruitment process
It’s possible that you could just be hiring employees that aren’t the right fit for your company. A more thorough recruitment process with a focus towards certain applicant qualities could help you hire more loyal employees. Try researching into recruitment techniques and give yourself enough time to gather as many applications as possible and conduct thorough interviews. Look into candidates’ backgrounds and be wary of signs such as frequent job hopping or a lack of references. If you feel you don’t have the time to focus on recruitment due to being understaffed and overly busy, you could always seek the help of a recruitment agency.
Make an effort to integrate new employees
Not looking after your new employees can also cause them to quit soon after starting. This could include not providing training, not introducing them to the team or making them feel left out of meetings and company social events. Sometimes your older employees may form a clique and not allow new employees to integrate, which could also result in new employees constantly leaving. To make sure that your new employees feel wanted, you should plan team building exercises on the week that they are hired, as well as offering training as regularly as you can. Even if you’re hiring experienced staff, training may be important when it comes to your individual company’s way of organising things.