Staff turnover is a consistent problem for almost every business. Hiring the best people and then convincing them to stay with an organisation is no mean feat for a business of any size, but it’s absolutely crucial to keeping your business moving forward.
Though employment remains at historically high rates in the UK, turnover rates across all industries hover at around 15%, causing significant disruption to businesses as they undergo an almost constant rebuilding job.
Among businesses, we’ve witnessed a huge shift in the way we construct working environments for our staff; moving from the dull grey cubicle to brighter, bolder new working environments, but that’s no longer enough to keep staff from jumping ship. It takes a dedicated and holistic approach to recruitment and management to keep staff turnover low.
Here are five ways to help minimise staff loss:
- Hire the right people, right from the start.
The very best way to ensure that employees don’t jump ship prematurely is to ensure that you hire the right people. It might sound like an obvious recommendation, but if your staff are all on-board and embrace the company ethos they won’t be inclined to move elsewhere. Begin by revisiting your hiring criteria and look at people whose CV you might not have previously considered with different experience and skill-sets – you might be amazed by the quality of candidates who simply need the opportunity to shine.
- Give your staff greater autonomy. Over time, staff can feel constrained by the strict limitations of their job role. Companies like Google have experimented with giving their employees so-called 20% time – work hours where their staff are encouraged to collaborate, gain fresh perspectives, and work on new ideas that could benefit the company. These ideas, over time, can become incredibly valuable to the company and give employees a chance to express their opinions and develop as members of your team, which can be a huge motivator to remain in a business.
- Reward your employees’ achievements. One of the main drivers of employee discontent is the feeling that their hard work goes unnoticed. It’s a problem that only gets more pronounced as an organisation grows larger, staff begin to feel less and less vital to its successful operation. Offering your staff real-time recognition for their achievements, be it bringing in a project on time or simply taking on a lot of overtime hours, will do wonders for the confidence and happiness levels of your team.
- Make a clear path for progression. It’s common practice for many businesses when hiring a new employee, to make grand promises about the possibility of career progression. It’s a carrot that many dangle, but if nothing comes of it who can blame your staff for wanting to move on to greener pastures? Live up to your promises, show staff where there are opportunities for development and promotion.
- Rebalance staff workloads. Beyond greater pay packets another thing which makes people look for alternative jobs is the promise of easier or more engaging work elsewhere at similar pay. If your employee’s workloads are excessively stressful, boring or difficult, you’ll find that keeping them on-board can be tough. By recruiting more employees or rebalancing your employee’s workloads to spread out the difficult work, you’re likely to see employee retention improve and higher productivity levels too.
Of course, these are just a handful of the many ideas you can put in place to help your business retain staff and reduce employee turnover. Our timesheet management software helps you keep a close eye on staff working hours – perfect for rewarding your employees.