One of your responsibilities as a business leader is not only to increase profit for the company but also to keep your employees happy. Keeping your staff comfortable, happy, and motivated is a crucial part of developing a healthy business. This is because when employees enjoy their work as well as their workplace, it can lead to higher production and better quality of work. Placing little to no focus can lead to a high turnover rate. So, in order to avoid this issue, here are a few things you can do to avoid this issue from happening within your own company.
Hire Qualified Employees
Often the reason for a high turnover rate is not what you are doing on a day to day but rather the type of stuff you’ve chosen to bring on. According to Forbes, the first thing you should do to avoid having a high turnover rate is to hire qualified employees. This, of course, starts with your interview process. If you are not obtaining the best candidates, then you might want to look into your wanted ad. Too many requirements can scare off top talents, too little can bring in the wrong crowds. In addition, you should also consider adding multiple interviews to your process. This will allow you to vet candidates quickly and decide who you should spend more time getting to know. Your final interview can involve you introducing them to your staff and seeing how well they fit in your company.
Offer Flexible Hours
According to Bacon, people these days are looking for a more flexible work model than the traditional 9-5 desk job. Thus, it is highly recommended to offer as much flexibility to your staff as possible. This may involve allowing them to work from home a certain number of times per month. Through the implementation of this technique, you can begin to improve the overall mood of your office. Employees will appreciate this and work harder to not only produce for your company but keep their jobs.
Studies have shown that people are much more motivated by recognition than by the promise of a bonus or raise. HRmorning suggests that you may utilize this technique by sending out a company-wide email recognizing a member of your staff who went above and beyond for the company. Doing so will no doubt make them feel valued and appreciated. Consider giving tangible awards, like plaques, certificates, or even trophies! When each of your employees feels like a winner, your business will soar!
High turnover rates are not only timewasters, but they can cost your company thousands. Therefore, in order to avoid this issue from arising within your company, simply adhere to the information above.