How To Stop Employee Turnover in Its Tracks
How do you stop employee turnover? Why do you keep losing your best workers? According to a Gallup poll, 30% of employees say they leave their jobs because of inadequate compensation, but money isn’t everything. Other reasons for leaving include poor growth opportunities, bad work-life balance, and negative interactions with managers.
Below, learn how to keep employees from bailing so they’ll stick with you for the long haul.
Hiring the Right Talent for Your Business
If you lose employees shortly after onboarding, your hiring process might be the problem. Maybe employees’ expectations for the job don’t fit reality because you exaggerated or failed to disclose something in your job posting.
Review all job listings to ensure they’re accurate and honest. Be clear about the role, your expectations, compensation, and other things that applicants find essential.
Maintain a Healthy Work Environment
Plenty of workers enjoy their job duties, but they’re unhappy because the work environment is toxic. For example, maybe they’re facing gossip, bullying, or sexual harassment. As a business owner, it’s your job to nip these issues in the bud.
Create and enforce a no-tolerance policy to make clear your stance on antisocial behavior. And if an employee comes to you with complaints about a co-worker, take the time to listen. If you need help developing or implementing these policies, we can help.
Help Workers Feel Valued With Employee Recognition
You’d probably dislike it if nobody ever praised you for your achievements, and your employees feel the same way. Without recognition, employees don’t feel valued and start to think that their contributions don’t matter.
If you’re wondering how to stop employee turnover, start by telling employees that they’re important to you. In addition to verbal praise, consider rewarding high-performing workers with bonuses such as extra PTO. Many employees do not want fancy dinners and award ceremonies. We can work with your team to determine great incentives.
Offer Career Development Opportunities
Many employees leave employers when they feel like they’ve hit a ceiling. The employer doesn’t offer room to grow; they’ve learned all they can in the role. Some employees don’t mind doing the same thing day in and day out, but others thrive by learning new skills.
Keep those employees engaged by offering further learning and development opportunities, such as cross-training for new roles, inviting them to seminars, or even providing college tuition reimbursement.
Stay in Touch With Your Employees
When was the last time you had a real heart-to-heart with your employees? If you only meet with them privately once a year for performance reviews, you could be missing out on things that are causing employees to leave for greener pastures.
Invite employees to meet with you regularly to discuss anything on their minds. These meetings allow you to spot problems and fix them before the employee gets unhappy enough to leave.
Your HR Partner to help you keep great employees
If you’re struggling to figure out how to stop employee turnover, let 45 Solutions help. Our fractional HR company is a one-stop shop for recruitment, retention strategies, talent acquisition, and all your other HR needs. To learn more, call 45 Solutions at (215) 828-1404.
