What was the employee turnover rate of your company last year? If your company’s employee turnover was more than 15%, it is time for you to take action. Each employee that you lose is a new vacancy that calls for hiring. Whether one employee or ten, hiring procedures are time and money consuming.
And as a matter of fact, why should your company lose a good employee? They were bringing revenue to your firm, and it will take a considerable amount of time for a new employee to do the same.
So, here is a list of things that you can use to reduce employee turnover.
1. Hire the right employees: In most cases, hiring the wrong employee is the sole reason for high employee turnover. A wrong employee does not mean an ineligible employee; the hired person might be well qualified but not perfect for the role. A bad hire means the employee is not the right fit for the job responsibility and your firm. They might not be able to cope with your policies or work environment and leave the company easily.
As an HR or employer, you have to be cautious while shortlisting candidates for the role. We recommend you to use leading online job sites such as Bayt.com and the effective tools it offers to find a reasonable candidate. The different levels of analysis procedures ad questionnaires help you pick the right person.
And once you shortlist the candidates, give them a clear-cut explanation about their job roles.
2. Keep a check on rotten apples: Understand that all your employees are not good for the company. One or two of the employees might create negative vibes to the whole office and disrupt the peaceful environment of the space. Common signs of a rotten apple in a workspace are:
If you have such employees at your firm, keep an eye on them. And don’t hesitate to fire them if they are causing trouble to the normal functioning of the company.
3. Provide compensations and other benefits: One common cause for employee turnover is the lack of salary and other compensations. If you do not pay your staff properly, they will definitely leave the company at one point or another. So, to keep them contented in your company, provide them with additional benefits too.
The holiday bonus, vacation bonuses and anything other than regular salary is an additional benefit. Assess your employees wisely and provide them with the benefits that they deserve. That is how you keep your employees happy with your firm without strangling your company budget.
4. Ensure a healthy working environment: Your employees should feel at home while working in your company. You cannot achieve it by merely saying they are family; your company policies should also abide by that principle. These are the thighs that you can do to achieve that:
5. Ensure employee engagement: At least a few HRs and employers believe that conducting an employee engagement survey is enough for employee engagement. But that is not true; employees should be emotionally able to invest their time, energy, and talent. And it is not something that happens on its own; there should be deliberate welcoming and engaging activities on your part.
The following are the set of actions that you can do to ensure employee engagement:
Conclusion
No matter how well you ensure a healthy working environment at your office, employee turnover will be high if you don’t hire the right employee. So, all the steps for an effectively reduced employee turnover converge to hiring the right employees.
Hiring tools like Bayt Job Postings have several filters and questionnaires that systematically screen out unqualified candidates. That way, you can easily shortlist people who are right for the role and confirm less employee turnover.
So, what are you waiting for? Get the best online hiring tools and see the growth of your company.
