John is a sales executive attending an interview at one of the largest security firms in the country. Before the end of his interview, he asked the panel of judges how many sales executives they had hired in the past 2 years. Why was this important to him?
In any organisation it’s normal to have employees come and go but when the turnover is high there must be a problem.
What is employee turnover?
This is the total number of employees who leave a company at a certain time period. This number comprises both employees hired and fired. If you’re experiencing high turnover then it means there must be an issue. This could range from the working environment, management, incentives, or even the company’s culture. It’s normal to have employees leave but disturbing nevertheless.
Here are 8 tips to manage turnover:
- Hire the right team
When filling out a position, choose the right candidate for the job. Inform them on what is expected of them, how the company operates, the company culture and last but not least their expected salary
- Offer competitive salaries and allowances
Truth be told, this is one of the key reasons why people wake up to go to work. Offering good starting salaries acts as a good incentive and promotes productivity.
- Reward and recognize employees
Celebrate employee’s small wins. When an employee does a good job, praise them and show gratitude for work done. For instance, they have surpassed your expectations, it’s good to offer a reward. This makes the employee feel valued and motivated.
- Be flexible
Offer employees flexible work options. This could be in terms of flextime where employees are required to work for a specific time but they can choose when those are or even remote work.
- Make opportunities for development and growth
This can be done by offering employees training to better their skills or learn new ones. Upskilling not only benefits the individual but provides the company with skills it needs in this ever changing world.
- Prioritise work-life balance
Don’t overwork your employees. In case the work is a lot, hire more staff, Offer remote working or where possible flextime.
- Provide an inclusive vision
Employees with a sense of purpose and meaning in their work are more loyal and have a
sense of belonging to the company.
- Fire people who don’t fit
Not all employees will be a perfect fit for your company. It could be their personality or their attitude towards work or they don’t mesh well with the rest of the team. It may be best to let such employees go.
With the above pointers done correctly then you are likely to hire and maintain a capable yet happy workforce. Happy workers produce more.
Sources: YoungMogul, brighthr, shrm, emeritus, workhuman, forbes, netsuite, testgorilla