5 Easy And Cost-Effective Ways to Reduce Employee Turnover

You know what’s more difficult than finding top talent ? Retaining them. Employee turnover is an issue for all organizations, especially for small businesses or startups. Even top companies are burdened with the headache of high turnover rates. Employee turnover is simply the percentage of employees in an organization that leaves and is replaced with new employees. This is of course calculated as a function of a period of time.

Here are a few ways in which you can tackle.

1. Analyze
The most important step? Yes. The most underrated step? Yes. People usually underestimate the importance of properly analyzing a problem and jump straight to solving them. Yes, it is important to get to the solving part as soon as possible

2. Giving preference to EQ
Emotional Quotient of your employees is a crucial factor for the smooth functioning of your organization. Employee turnover rates shoot up in organizations where there are high instances of workplace conflicts. Higher EQ translates into better bonding and less conflict in the workplace and finally lower turnover rates.

3. Make Your Employees More Involved
We have seen quite a lot of employees who leave an organization due to their lack of involvement in the decision-making process of the company. When you make your employees more involved in the decision-making process, it creates a strong bond between the company and the individual. Taking your employee’s feedback gives them a feeling that they are a valuable part of the organization and their input is as important as the top management.

4. Remote Workers All The Way
What’s better than not having to come to work on Mondays right? Giving your employees the flexibility to work from home(or anywhere in fact) is a great way to not only reduce turnover but spike productivity. With the flexibility of working from home, your employees can manage their work-life balance more effectively and ensure that they deliver what is required by the organization.

5. Hiring the Right Fit
This seems like a no brainer, right? Well, not so much. Big organizations are notorious for hiring misfits. Hiring misfits drain the morale of the workplace and generally tend to be a bad influence on the rest of the flock. If employees are not a perfect fit for your organization, they are likely to be unhappy with their work and generally leave after a short period of time without providing any substantial returns for the company. Know more...