For small and large companies alike, minimizing turnover is an important ingredient in the recipe for success. It costs time and money to train new hires, and more significantly, new hires don’t understand the nuances of the work. The best employee is a dedicated, hardworking, and attentive employee with experience. Accordingly, it isn’t difficult to see why minimizing turnover is such a priority for so many businesses.
The following tips will help businesses to reduce turnover and be better able to compete in today’s quick-moving professional landscape.
Let’s take a look!
Hire Extremely Qualified Candidates
Out of convenience, it can be tempting to settle for a candidate who seems unsuited for a position, but doing so is a short-term solution that will almost certainly create trouble in the not-so-distant future.
By hiring extremely qualified candidates, a company can greatly reduce turnover. It should be emphasized that “extremely qualified” refers not only to education and experience, but it also refers to demeanor, attitude, and commitment.
Is this applicant someone who’s enthusiastic about the company and its products/services?
Provide Non-Judgmental Avenues for Feedback
It’s not uncommon for both new and long-time employees to quit after being dissatisfied with specific conditions in the workplace. These complaints often form as a result of minor issues, however. The trouble, though, is that minor issues seem rather significant when they’re faced time and time again throughout the workweek.
Thus, employee turnover can be minimized if non-judgmental avenues for feedback are provided. Weekly (or even monthly) meetings for constructive suggestions for improvement, an “issue box,” wherein formal suggestions for improvement can be written and submitted, and a caring HR staff will all go a long way towards enhancing employee satisfaction and reducing turnover in the process.
Last but not least, morale-boosting events can remind employees of how much their work is valued, thereby reducing dissatisfaction and turnover. From full-scale outings at event centers to something as simple as a breakfast with bagels and coffee, letting employees know they’re valued is a must.
These tips will help businesses to reduce employee turnover, have more resources to dedicate to innovation and be as successful as possible.