Tuesday, January 25, 2022

Small Business Tips: How to Decrease Turnover

After the Pandemic, more people are evaluating their lives, which includes their work environment. As an employer, how do you keep your people engaged and rewarded, so they want to stay?

Here are a few ideas on how to decrease turnover so you don’t waste money training people who won’t stay.

Hire the Right People

If your impressions of prospects tell you they won’t fit in, then don’t offer them the job or you will end up with issues.

When interviewing potential employees, ask them situational questions to know how they would react in particular instances. Give them a tour of the business, being sure to mention cultural items at the business. This way, if they don’t feel they fit in, they will eliminate themselves.  

Offer Flexibility

Let new hires (and all team members) come in at a flexible time or leave at a flexible time as long as they get the work done.

This flexibility allows them to attend their children’s school functions, which will help them maintain their work-life balance. Or maybe it’s as simple as letting them work at home or a coffee shop at their leisure.

Compensate Fairly

If a prospective job applicant or a current employee can go elsewhere and make more with better benefits, why would they not take that opportunity?

Be sure to give out raises and bonuses when you can. If employees receive regular raises and bonuses, they will feel appreciated and less likely to look for another work opportunity. Do your research, so you know what others are paying.

Verbally Praise Your Employees

If employees finish a large project or hand things in early, be sure to thank them and applaud them publicly.

Everyone wants to feel appreciated. This doesn’t mean praising everyday tasks. That would be counterproductive because people wouldn’t see this as genuine. But when they take on a large project or a difficult task, congratulate them.

Provide a Future

Show new hires that there is room for growth, whether a new title or salary.

Show them that you value them and want them to be engaged with their tasks. Sometimes people get bored with doing the same job all the time. Provide new challenges and projects that they can look forward to doing.

Even though the average turnover is 10% to 20%, you can help keep your employees with a little extra effort. By appreciating them, helping them succeed, and more, you will be sure that you are doing all you can. We do all we can to keep your business as well. Check us out today!

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