6 Ways to Prevent Employee Turnover in Your Small Business
A small business does need to run smoothly and efficiently in order to be successful. One thing that can undermine the operation of a small business is employee turnover. When an employee abruptly quits, the work that employee is responsible for performing ends up not being done. Time and money are lost this way. And then comes the additional costs of having to train a replacement.
Is your small business suffering from consistent employee turnover? If so, then there may be some problems present that are facilitating the rapid loss of employees. Instituting five careful steps could cut down on turnover fairly effectively.
Pay People What They Are Worth
This might be the number one way to keep people in the fold. When an employee is underpaid, he or she does not need much incentive to leave. While it is true a small business might be on a budget, employees have their own financial responsibilities to manage as well. Paying people what their true value is would definitely cut down on employee turnover in an office.
Money is not everything, though. Employees may be willing to work for a little less if the office environment is a friendly one. A relaxed and stress-free work environment can be hard to find so some employees may consider such a place of employment to be a blessing. Something a simple as a relaxed dress code could keep employees upbeat about working in a particular office. What about “bring a pet to work day” and other means of overcoming daily monotony? Strategies such as these can reap benefits.
Improve Hiring Strategies
Hiring the right person for the job and the work environment is critical. Most recruitment process outsourcing professionals will agree with this assessment. The hiring strategy used to bring new talent on board should go beyond the basics.
Yes, you do need to hire the most qualified person for the job. Something else must be determined when screening employees: is he/she a right fit for this particular business? You want someone who is likely to be interested in staying with the company for the long-term.
Meeting Special Needs
Employees may have special needs that could be met by an employer. A good employee who is tasked with caring for an elderly or infirmed relative might benefit immensely from being allowed to telecommute once or twice a week. With modern advancements in internet technology, telecommuting likely won’t affect work performance at all.
Improve Office Communications
Weak communications in an office can lead to frustrations and confusion. Employees do not like to be confused or frustrated. Completing daily work tasks becomes harder when internal communication is weak. Auditing internal communication strategies and methods — if they currently even exist — and improving on any weaknesses should become a major priority.
Learn How to be s Being a Better Manager
Looking at oneself and seeing the cause of the turnover in the mirror requires brutal honesty. In order to succeed in business, honest assessments are the only assessment of any real value. Those managers who are difficult to work for usually drive employees away.
Do not feel bad about being a less-than-perfect manager. Take concrete steps to improve performance. Listening to employee feedback would be the easiest path to take. Enrolling in online courses to improve managerial performance would not be a bad plan either.
Effort Yield Rewards
All the tactics required to reduce employee turnover is costly, but the costs do end up paying for themselves. Once employee turnover is under control, a small business ceases to redirect funds and effort towards constantly replacing departing workers.
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