Employee turnover is a problem all over the United States. At least 57% of American companies say that it is a problem for them. It has been estimated that about 22% of people who take a new job will leave it within 45 days of their start date. If you are looking to reduce your expenses that are caused by this issue, experts at job agencies recommend the following tips:
- Start with the right people. Staffing agencies say that one way to keep people is to start with the right individuals in the first place. Make sure you have a clear idea of what kind of person you need and what their role will be at your company. If you are not clear about what you want, you will not be able to hire the right people for your business.
- Get rid of people who are not working out. When it comes to employee retention, an ounce of prevention is really worth a pound of cure. No one likes to fire people but sometimes it is something that needs to be done. When you are staffing your team, it is just about as important to see where certain people may not be working out well.
- Offer competitive pay and benefits. This may seem obvious but is important enough that it should be mentioned. Experts at job agencies say that some companies do not keep up on what people are paid in their industry and offer packages that are outdated. If your competitors are paying their people a lot more for the same work, you can bet you will have a hard time keeping your people.
- Be flexible. If some of the work that you need to be done can be done remotely, offer that as an option. Many working parents would welcome the chance to work from home some of the time. Reseach done by the Boston College Center for Work andamp; Family found that a full 80% of all workers say they are more likely to stay at their job if they are given a little flexibility either in terms of the hours they work or the place where they work.
- Show your team that you appreciate them. People like to do a good job and to feel that they are having an impact on the company where they work. If you take the time to reward good work and recognize the contributions your people are making to your business, you will have a happier workforce. Doing this will build loyalty among your staff.
- Have a transparent and clear performance review system. A few years ago, National Public Radio ran a report on what keeps people at their jobs. They found that workers who are given a clear description of what is expected of them, the tools to do the work and feedback on their performance (both positive and negative) were happier with their jobs and less likely to leave.
- Give people a chance to grow at your business. After you have finished staffing your company, you may think you are done but that is not true. People like to think that they have space to grow at their work. This means you should help them grow personally and professionally. Not only will this help you encourage loyalty among your staff but you will have a happier workforce overall, say job agencies.
- Show your workers that you respect them. When you create a culture of respect, you are doing a few things for your company, say experts at job agencies. Respect breeds more respect. No one likes to feel they are not respected. This is important for most people. Research, put out in 2012, showed that people who do not feel they are respected at work are more likely to leave and find a new job.
There are a decent number of business owners and managers who believe the main key to preventing employee turnover is to offer a large salary. While experts at job agencies say offering the right pay is a part of keeping workers happy, it is not everything. Providing flexibility, respect, growth opportunities and recognition can go a long way in keeping workers happy with their jobs and with you as an employer.