A high employee turnover will affect everyone in an organisation. From the MD who has to invest in more hiring and training costs, to the diminished morale amongst co-workers. So, how can companies help to avoid staff leaving them?
To avoid it is important to get it right from the start. Ensure that your interview process is thorough and as well as taking time to research the candidate’s references and employment history. Don’t take on a new permanent employee just because you are desperate to fill the role – most hasty decisions are later regrettable ones. Not only should the person have the right skills and attributes for the position, they must also fit in with the culture of the organisation.
Once you have found the perfect candidate, how do you keep them? Employees want to feel appreciated, so it is vital that if they are doing a good job that they are actually being told so and rewarded accordingly. Although salary is not the main reason a person would join or leave a company, it is important to pay competitively and hold regular pay reviews. Employees do not want to feel undervalued.
Regular performance reviews with staff are important as they help to identify employees who have the potential for promotion and help to set (realistic) goals for staff to work towards and therefore keep them motivated. Performance reviews also give staff time to speak to their managers about any concerns on performance or workload and this regular contact with line management will hopefully make them feel supported and valued.
The environment and culture of a company is an essential part of employee well-being. Nobody wants to work in a miserable environment where they dread walking into the office. A pleasant working environment where employees are encouraged to support one another creates a positive energy which in turn will mean happier employees.
Job security is also a factor in employee retention. If a company is showing signs of financial difficulty and making redundancies as a result, the remaining staff are going to feel anxious and start looking for new roles elsewhere. Unfortunately, such circumstances are difficult to overcome, but by keeping all staff informed throughout the process will help encourage loyalty during tough times.
If an employee does decide to move on, exit interviews are a great way of establishing the reasons for a person’s departure and using the information to help the organisation improve. Encourage honesty during the process (after all, the ex-employee has nothing to lose!)
