Low employee retention? Here’s how to reduce your turnover

When people leave your business, it’s often your duty as a manager to replace them as quickly as possible. However, the recruitment process can be a high expense that you should be trying to avoid. Although your mind will naturally travel to an understanding of how time-consuming recruiting can be, there are other areas that you should factor in too. For example, you’ll also need to budget for their training to ensure that they’re capable to carry out an array of tasks across your business.

Change management specialists, Impact International, look at how to make sure you have as little staff turnover as possible.

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Pick the right candidate

Even if you’re in desperate need of new people to join your team, you need to make sure they’re the right fit for your brand. To achieve this, make sure that you have a detailed job specification at hand for each role and making sure that it is as clear as possible. If you get this right, you will only receive applicants who are actually suitable for the job.

The skills someone has are just one part of the application process though. You must ensure that they will fit into the business well.

The culture

If you want to stand out from your competitors when it comes to recruiting the best talent in town, you must have a great company culture. This means building an environment that prioritizes both your brand values and belief — as well as adapting to the wants and needs of a modern workforce.

If employees enjoy their time at work, there’s a higher chance of them staying within the business. From an applicant perspective, company culture could be the make and break of accepting an offer!

Big up your team

Everyone likes to feel appreciated for the work that they’ve done, so you should try and acknowledge any achievements as much as you can. If you’re selling a great company culture to potential applicants but are then failing to recognize their work, they’ll become disillusioned with your values and are likely to become less motivated on the job.

By rewarding your staff, they’ll begin to realize that they’re worthy within the business.

Offer flexibility

In 2017, eight million people in the US worked from home. Studies have shown that flexible working hours is one of the most important benefits offered by businesses — which again can create a great working culture. As well as this, remote working or ‘duvet days’ are becoming more popular as they offer a great work-life balance.

If staff feel as though they have a great work-life balance, they’re less likely to leave your company!

Good salaries and perks

As a business, you need to be making a profit. But if you’re looking to attract the best talent and retain your current workers, you need to be generous to them too. If you pay higher than the expected salary for a specific role, you’re likely to pull in the best candidates for interviews and stray them away from other businesses in the area.

Benefits are also sought after by many candidates and are a growing expectation of modern businesses. Think about hosting regular nights out for your team members and even learning opportunities — this will definitely boost morale!

Room for progression

Everyone wants a great career progression, so it’s important that you offer that within your business otherwise staff will move to a company that does. Within progression, people want to be able to increase their skillset and encounter new learning opportunities, so it’s important that you cater to this. Help your staff visualise their future at your company and show that progression is a real possibility.

There’s a lot you could work on to ensure that your business is performing in all areas, especially when it comes to the recruitment process. Remember that a workforce is more likely to lead to a profitable business!