5 Ways to Reduce Employee turnover
Companies who can boast a low employee turnover rate reap the benefits of retaining skilled and loyal workers, they are most likely a great place to work and recognize the value of their workforce.
Here are some tips to help reduce turnover rates:
Hire the Right People
Be sure to begin the hiring process with a well-defined job description with responsibilities accurately reflected, a big reason employees leave a job is because it wasn’t what they expected.
It’s also a good idea to have the candidate meet co-workers as part of the process so they get a sense of the company culture and what it may feel like to work there.
Recognise and reward employees
Employees feel valued and are more loyal when their hard work and efforts are acknowledged. A simple verbal acknowledgement can do wonders and putting in place more tangible rewards and targets can boost employee happiness.
Offer flexibility
Employees have become accustomed to a more flexible and healthy work-life balance in recent times. In fact, when surveyed, 80% of employees stated that flexible working has a positive effect on retention.
By offering greater flexibility around hybrid working, WFH and hours, a company will increase their chances of retaining staff.
Provide Career Opportunities
Invest in your employees and enable career growth opportunities where employees have the support to expand their knowledge and skill base. Offering career progression and internal opportunities will improv the likelihood employees will look elsewhere.
Have a Great Onboarding Process
Make sure your onboarding process introduces a new employee to the company culture, it’s values and vision. Employees who feel connected to the company from the offset will have a more positive view of their workplace and reward you with greater loyalty.
Onboarding should also focus on providing a new starter with all the resources, information and tools they need to increase their chances of success within the business.
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