A lot of companies lose millions yearly due to a high turnover rate of their staff.
It takes money to replace and train replacements and this is why businesses should endeavor to reduce their staff turnover rate.
Here are some reasons employees keep leaving and what you can do easily Reduce Staff Turnover and Increase Productivity
1. Consider culture fitness while hiring:
Yes, it is important to hire highly skilled individuals but also pay attention to the detail of culture fit. Does this individual fit well with your company’s values?
You can ask questions to test their behavioral responses to scenarios during the hiring process and to even go the extra mile, show them around your business and pay close attention to how they respond to the environment.
Hiring the right people will help reduce the turnover rate and ensure your employees fit in easily.
2. Offer competitive staff benefits and rewards.
than just their take-home, giving proper staff benefit goes a long way
to ensuring the turnover rate in a company is reduced.
Many employees want benefits and may decide to jump ship if they see another company who offers them even slightly less pay than you are, but with greater benefits.
Things like transportation, healthcare, paid vacations and others go a long way to keeping staff happy and reducing the turnover rate.
3. Pay staff on time:
Owed staff are unhappy staff. The bills are waiting at the end of the month whether you like it or not.
Paying staff early or setting up a system to pay staff when due, ensures they put in their best and makes it even less attractive for them to look outside.
4. Recognize hard work and effort with commendations:
every major stride, positive reinforcement goes a long way to showing
staff they are appreciated and makes most of them put in the extra work.
A company that truly appreciates the hard work of its staff sees a reduced turnover rate and boost in productivity more than one that operates seemingly oblivious of the effort they make.
5. Make working hours are flexible:
Before we became workers, we were first human. It is important to be flexible and understanding with working hours as long as the output is kept in focus. Helping your staff find a good work-life balance by making sure they have flexible working hours will not only reduce turnover rate but increase the overall branding of your company as they will definitely share the good news about how flexible their hours are.
6. Onboard properly:
Staff onboarding is something that has to be done right. It might seem like a process that can be skipped but it is well known that those who are on-boarded properly settle in and come up to speed way quicker than those who aren’t.
Onboarding bridges the knowledge and culture gap between the old and new staff and ensures everyone is carried along in the direction of the company’s vision and goals.
Source: culled and edited from
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