Employee turnover (rate) is the measurement of the number of employees who leave an organisation during a specified time or period. For most companies, employee turnover is something normal. Employees come and go. However, when employees leave, reports indicate that it’s costly for a company. In most cases, it takes time and money to find and train a replacement. If you have high employee turnover, it’s in your best interest to reduce it. wcompiles essential ways to keep this under control. Examine turnover To be able to deal with this challenge, a company has to go to the root of the problem and analyse why employees are leaving. This analysis makes it easy to understand the reasons your employees quit often, and subsequently finding the solution. Do this by collecting data carefully from those who left and those who are still working with you. Also, ensure that there is sufficient transparency during the entire process. Offer impressive benefits Employees enjoy working with organisations that pay them well, but they are also attracted to other benefits offered apart from the salary. An employee who lacks such benefits is bound to leave a company that doesn’t offer such for that which does. As a company that wants to retain its employees, you need to offer competitive benefits that your employees want. These can include housing, transport, food, utilities, among others. Have flexible working schedules In the modern world, employees have started valuing a work-life balance. People want to pursue their careers but they also want to have a healthy life out of the workplace. Without a flexible work schedule, employees can be forced to quit working for your organisation. Have an adjustable timetable for your workers such that your employees are able to create a work-life balance for themselves. As long as workers can pursue their other interests beyond work, they are unlikely to quit an organisation. Make opportunities for development and growth Lack of opportunities for growth could be one of the biggest reasons why employees quit certain organisations. Without development or opportunities for career growth, very few people can choose to stay, for most employees place value on prospects for evolution. Therefore, as a company, if you aren’t developing your employees, it could be the reason they are leaving you. Make an effort to invest in your workers. Hire the right people When advertising for a post, describe the role clearly for the applicants. And when making a choice, be absolutely certain the candidate is a fit not only for the position but for your company culture. Being this vigilant will help you in hiring the right people that match well with your organisation. Hiring the right people for your company is the best way of ensuring employee retention. Reward employees Employees who are appreciated for the work do have higher chances of being satisfied with their jobs. Show your employees they are treasured and appreciated by offering them recognition that celebrates their successes and their efforts.
