Skip to main content

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... 
Labels:

Comments

Post a Comment

Popular posts from this blog

3 Requirements for a Diverse and Inclusive Culture

A lot of companies consider lifestyles, personality characteristics, perspectives, opinions, family composition, education level or tenure elements of diversity, too. 1. Employees are treated with respect: A culture of inclusiveness is rooted in respect. Employees must be treated with and treat others with civility and decency. 2. Employees are valued for their strengths: Effective collaboration, productivity and profitability are, of course, why companies incorporate CliftonStrengths development as a strategy. Though it may seem an unlikely pairing, using CliftonStrengths can help your organization create a culture of inclusion. 3. Leaders do what is right: We ask if the organization is fair to all employees, if supervisors create a trusting and open environment, and if workers are confident leaders will do the right thing if discrimination concerns are raised. Know more at vividhta See more related blog: https://diigo.com/0hp8dt
Post a Comment
Read more

Incorporating Psychological Safety In Your Team

Psychological safety is when you feel safe in your team and you are more open about admitting your mistake, speaking up with ease without being embarrassed, and experimenting with new things. To make your team feel psychologically safe you need to first create an environment that encourages it.  You can do it by following simple steps:  1. Learning from Mistakes: In a psychologically safe environment, teams are more open to admitting their mistakes and acknowledge each other for their work. They are more clear about finding the solution rather than blaming each other.  2. Difference Without Conflicts: In a psychologically safe team, differences mean having diverse ideas and opinions about how to approach work. There is mutual respect among each other and each member of the team is given full autonomy to put their ideas on the table. 3. Openness In Team: Teams work with more efficiency when each member can bring their true self with them.  4. Improvement...
Post a Comment
Read more

The First 100 Days Program by Vividhta Consulting

Most diversity programs fall short of the expected results as the diversity entrants are not handheld effectively. The diversity candidates end up feeling lost, isolated, demotivated leading to an unhappy and unproductive employee who exits the organization.  “The First 100 Days” by Vividhta Consulting is a program designed to make the employee feel wanted, supported and encouraged to work with your organization. It has been found that post the first 100 day period employees feel more engaged with the organization leading to better results and higher productivity. Follow us: Facebook: https://www.facebook.com/VividhtaConsulting Linkedin: https://www.linkedin.com/company/diversijob/ 
Post a Comment
Read more