Every company wants to keep good employees. Great companies want to retain the right employees.
There are two types of turnover:
- Involuntary – when the company terminates an employee
- Voluntary – when an employee leaves the company on their own
Involuntary turnover isn’t always a bad action. It helps you tailor the team by finding the right employee for that role. With voluntary turnover, there are some things you have no control over. If an employee wants to change careers, relocate, or retire, there is little you can do to combat those actions. However, you can create an environment where employees want to stay.
Analyze Turnover Rates
The first thing your company must do is analyze your turnover. There are many reasons why employees leave jobs. You can’t lump all the turnover into a single category.
Employee retention rates vary by industry. Hospitality, for example, tends to have a higher than average turnover rate simply because of the nature of the work. You also need to understand the norms of your industry to see if your retention falls into an acceptable range.
Every time an employee leaves, conduct an exit interview. Most employees don’t make the decision to quit on a whim. Getting their feedback will help you categorize why they chose to leave. See if there is anything you could’ve done or could do in the future to prevent employees from leaving.
Give Accurate Expectations
When you’re interviewing candidates for a new job, don’t describe the job they want – describe the job you need. Sugarcoating a role and highlighting only the most appealing aspects of the job could lead to high turnover. Due to misleading job descriptions, you may hire a great candidate, and three months later they leave because the role isn’t as described.
Being honest and open about all aspects of the role is one way to ensure you and your new hire understand what’s expected of them.
Communicate Clearly
Clear communication is the keystone to a successful team. You need to communicate your expectations to each employee. You can hold your team accountable ensuring that your business is on track.
A lack of clear communication also prohibits collaboration. Without collaboration, your employees could find themselves in a silo and feeling without purpose. Fostering a culture of open communication helps to keep your team engaged and focused.
Use a Recruiter
Experienced recruiters help you craft a job description that is clear and honest. A skilled recruiter in their craft will only send you the best candidates for the job, saving you time and effort wading through countless unqualified applicants. This helps narrow down the list of candidates for the role.
ISGF has a team of seasoned recruiters who will work with you to make sure your team is engaged and the right talent stays with you. Contact us today online or call us at 855.240.ISGF.