Employee Turnover - HR's Reality Check!
One thing all employers and HRs would swear dreading is high employee turnover. When your best employees leave, they leave behind mounting costs for the organizations to hire new people. Finding the best talent requires a dexterous amount of time, money, and efforts.
So when you have an organization with the most hardworking and efficient employees that have stuck around for a while, you obviously don't want them to leave and raise your hiring budget. But employees leaving is something inevitable and you've less control over. There are many reasons behind an employee leaving ranging from dissatisfaction at work, poor company culture, inadequate compensation, nasty manager, and personal reasons, at last.
Here are 6 tips on how to keep employees happy, retaining best employees and keeping low employee turnover.
6 Tips to Keep Employees Happy
1. Inculcate an Amazing Workplace Culture
The kind of culture your workplace exhibits is an index of your employee retention or turnover. Not all organizations are born with a positive work culture but it has to be worked upon and maintained every single day. A positive work culture might stem from a plethora of reasons.
If you want your employees to come to work day in and out, offer them more than just compensation to motivate them. The traits of a great workplace culture is healthy, positive, and transparent that goes beyond employee satisfaction. You might consider additional perks like healthy snacks for your employees, in-office gym, or flexible work timings.
2. Acknowledge Their Efforts
Sounds quite simple, isn't it? This one simple effort makes a hell lot of difference in employee's productivity and his overall state of being happy at work. Acknowledging and recognizing the efforts of your employees is something every hiring manager must do frequently to let the employees know they're being appreciated for their work.
Now there are different ways to appreciate or acknowledge an employee's efforts and depends largely on the quantum of achievement and the company policy. You might consider a pay raise, bonus, or a simple recognition of efforts in terms of an appreciation letter.
3. Provide Avenues for Career Progression
One of the biggest reasons employees leave is lack of career progression opportunities in the current organization. Every employee wants to feel that they are progressing in their present jobs and here, HR professionals must take a note to not being stingy with the promotions.
If yours is a relatively smaller setup and moving upwards is not an option for the employees, expand the horizon of their responsibilities horizontally. Add more related responsibilities to their profile and diversify to enrich their skills and experience.
4. Hire the Best in the First Place Itself
Your team of even the best employees won't appreciate doing more than their fair share of the workload. Every employee wants to be surrounded working with people having like-minded skills and motivation level. They don't have to carry the weight of inefficient and unenthusiastic employees on their shoulders. The biggest tip all HR professionals must follow is to hire the best talent in the first place itself to avoid complexities in the future.
5. Offer Training & Development
Periodic training must form part of every work culture to end up having the right employees. Regular training programs, internal or external, equips them with new skills and takes them headway for promotion in the current role or higher notch. Right training and development programs inculcate a sense of loyalty among employees as they're less likely to leave the company realizing the company has invested so much in them.
6. Listen to Your Employees
Are you listening to your employees? Are they happy at work? You won't get to know the answers to these questions unless you listen to them. Conduct regular open house sessions, feedbacks, and encourage a healthy and positive dialog at the workplace so that they can come to you to voice their opinions without any apprehension. Listening to them and taking their feedback on improvements makes them feel cared for and leads to having a better workplace.
It isn't always possible to keep the employees from leaving but injecting these employee retention strategies at the workplace will definitely aim to keep the employee turnover low. Visit here for more such career and workplace guide resources.