Strategies for reducing employee turnover rates
Some of the causes of high employee turnover rates can also be prevented. All you need is a good strategy.

1. Invest in your employees

Your employees want to know that they are a valued part of your team. Play an active role in their professional development to show that you have invested in their success, and this in turn will increase company loyalty. Promoting development will also continuously improve your workforce, increase employee ability, and attract new ones.

2. Reward the actual work of your employees

Employees want to know that their contribution is valued. Make a conscious effort to specifically recognize their successes and reward their efforts. Offering rewards and celebrating all successes may seem unimportant, but it will certainly lead to increased loyalty.

While money may not be the root cause of high turnover rates, pay your employees a fair salary that increases in parallel with their professional development. This will ensure that your employees don’t start looking for a better deal elsewhere.

Note that in addition to market conditions that determine the price of labor, it is important to think about the proper distribution of wages as perceived by employees.

Do you want to get an insight into the real reasons for the turnover of your employees? See how Improv3 can help you with that.

Selection process

3. Improve the process of selecting new employees

Perfecting your selection process can be difficult. However, the time and effort required to advance the process will pay off handsomely, as you will be able to easily remove unsuitable candidates.

Before a job advertisement, define and specify the levels of competencies that a successful candidate must possess. By clearly defining the role of the job, target the right people, and quickly reject unskilled job candidates. In the screening phase, check whether the candidate has the desired competencies, ie knowledge, abilities, skills and characteristics.

Involve your candidates in role-playing or hands-on testing to assess their ability. Also, you can understand more about their thought process by asking thoughtful questions to understand how they will react in different situations “at work”.

To ensure that you are hiring a quality candidate, clearly define the expectations you have of the employee you will be hiring in the workplace.

Ensure that the candidate fits the company culture. Use the interview phase to examine in depth the candidates’ behavior, values, and competencies and to assess how well they communicate during the job interview. Move away from the “yes” or “no” question (known as “closed questions”). Open-ended questions help you discover the true feelings of your job candidate.

Involve managers and immediate superiors in the final round because it is important that they also get an employee with whom they feel satisfied and who has complementary qualities that complement the team.

4. Clear and thorough feedback

Providing appropriate, well-thought-out feedback is a major contribution to ensuring success. Feedback helps the employee think about their performance, become aware of areas for improvement, and develop their competencies. Skipping the ability to provide feedback hinders an organization’s growth and can lead employees to turn elsewhere. Listen to your employees. Conduct an engagement survey and analyze opportunities for organizational improvements from within.

Teamwork

5. Ensure a balance between business and private life

Balance is important. If your employees are overworked and overwhelmed with work, they will be dissatisfied. Encourage all your employees to take a full lunch break and ensure that their workload is manageable enough that they are not forced to stay at work late or start extremely early. Occasional business trips and socializing outside of work are important to promote positivity and a good work environment among colleagues.

You can also download the best strategies for reducing the turnover rate following their causes in PDF format at the following link:

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