Here are the 5 best strategies to keep employee turnover to a minimum.
1. Hire the Right Candidates in the First Place
The best way to reduce employee turnover is to get the hiring process right, starting with recruiting the right type of person for the position. Sell the organization and position to the best candidates by appealing to their particular passion or why they are the right fit for the culture.
Dig deep and ensure that the top candidates fit in terms of behavior, competencies, values, capacities and emotional intelligence. If those things are the case, continue the selling process as you make the offer.
2. Onboard Them Wisely
This is the time to get the new employee invested in the organization. It’s your job to give them a sense of where their specific role fits into the larger goals of the company as a whole. Let them know you and the company are investing in them for the long term.
Give the new employee a clear picture of the responsibilities, accountabilities and timelines of the position as well.
3. Promote a Culture of Growth
Give employees ways to stretch their wings and try new skills and tasks. Likewise, encourage informal networks to share information across departments or teams. By doing so, it keeps the work interesting and engaging, and also encourages innovation and collaboration.
4. Reward Contributions
Recognizing and acknowledging accomplishments and contributions to organizational goals is key to reducing employee turnover because appreciated employees are more likely to stick around.
As the human resources leader, it’s up to you to establish systems to make this acknowledgment easy and effective for managers. Talk to employees about what they would appreciate and how to go about implementing recognition structures.
More than 83% of HR managers report that a values-based employee recognition system makes employees happier, improves workplace relationships, and boosts employee engagement.
5. Work with Company Leaders on Self Awareness
One of the top reasons cited for employee turnover has always been related to supervisors. Make sure leaders at all levels are equipped to handle the needs and responsibilities of their team as they grow over time. Additionally, provide training and mentoring to managers on self-awareness, a commonly cited issue in cases of poor management.
By addressing this fundamental concern that contributes to employee turnover, you’ll go a long way toward reducing it. For more information on ways to train management effectively, contact us today.