Employee turnover can be detrimental to a business. Not only does it take away valuable time, resources, and funds when it comes to the human resources department, but a high turnover rate can decrease employee morale. Moreover, when a company continues to have new hires quit their positions, it creates a negative reputation. This is especially the case if the company is listed online where potential candidates, new hires, and long-time employees can write reviews about the business’ policies and hiring practices.
However, just as there are various reasons why new employees leave a company, there are countless ways to reduce the turnover rate. In this post, the Find Your Audience team will share 10 tips on how to increase employee retention.
- Provide opportunities for professional growth
At times, new employees leave a company because after working with it for a few days, weeks, or months, they no longer see themselves as having a future there. This can mean that the company has a lack of opportunities for professional growth. To remedy this, a business can offer employees invitations to career-related events that would both help them improve the way they do their work, as well as foster a culture of constant learning and improvement.
- Acknowledge accomplishments
Other times, employees simply wish to be acknowledged in their professional accomplishments. Whether it’s securing a business deal or even completing a project for a client, acknowledging the efforts of employees is a step in the right direction when it comes to showing appreciation for them and ensuring them that their work has meaning.
- Provide helpful feedback
If an employee does not know where they stand in terms of their work, then they can have a difficult time moving forward in future tasks. By providing helpful feedback early on, an employee would be able to get a clear understanding of what is expected of them. Their quality of work can improve due to the feedback they receive as well.
- Focus on the positives
This goes hand-in-hand with providing helpful feedback. Although it may be tempting to focus on the negatives, thinking about the positives and being optimistic about a project fosters a healthier mindset. For example, instead of continuously putting energy into where a task may have gone wrong, business leaders can help employees figure out what to do moving forward. This technique pushes employees to improve their performance and come up with innovations.
- Create peer-to-peer training sessions
An effective way to learn is through teaching others. Peer-to-peer coaching can involve on-the-job training, scheduled mentoring sessions, or even team building assignments where employees must work together in order to find a viable solution. In addition to educating new employees through these methods, workers who have been with a company for a longer period of time can also build on their professional skills.
- Involve employees in conversations
Employees who are on the same page and knowledgeable about their position and tasks relative to the business as a whole can renew a sense of purpose in them.This can increase employee retention because it helps define their goals and lets them have a clearer picture of how their professional career development is linked with the company. Furthermore, by having open conversations, a business fosters a friendlier environment and company culture.
- Encourage employees to ask questions
Similar to involving employees in conversations that would directly affect them, encouraging workers to ask questions is also a step in the right direction. By allowing open communication to occur within a company, innovations can be brought forth and improve the workflow as a whole. Questions can be asked through internal communications or anonymously.
- Create a suggestions box
Businesses that are always innovating know that ideas are integral to success, and a suggestion box where employees can share their thoughts without judgement is a fantastic way to gather valuable information. These ideas can be shared during brainstorming sessions or even business meetings, allowing voices to be heard and considered without fear.
- Give new employees an office tour
Helping out a new employee by informing them of different areas around the office or the building itself is an excellent way to make them feel more comfortable. During this tour, new employees can also be introduced to other departments, coworkers, as well as supervisors. By mitigating confusion from the get-go, a new employee would be better situated within their new work environment.
- Introduce new employees to everyone
To help new employees get situated within a business, introductions can be done. This not only familiarizes them with others, but also lets them know who to turn to for specific questions, tasks, and assignments. It would also inform new workers of who to report to should they have any further questions or concerns. Other employees would be more welcoming if they get introduced to their new coworkers as well.
Reducing employee turnover using these tips can save a business and its human resources department a lot of valuable time. This is only in addition to improve the company’s reputation and employee experience. Coupled with a customized business strategy developed by a team of experts, a business will be well on its way to success.
To receive more advice on how to improve different aspects of your business, contact the Find Your Audience team at either 647-479-0688 or email@example.com.