Strategies to reduce company turnover/advantages
For a few months now, a company’s employee turnover rate has been constantly rising. Therefore, the HR manager is concerned, as he cannot understand the reasons for this trend and, much less, how to reduce the number of dismissals. Strategies to reduce company turnover
Is this situation happening in your organization? Want to know how to reduce the turnover of internal professionals? So read our article and find out!
What are the advantages of reducing turnover?
Minimizing the turnover of employees in and out is essential to avoid increasing company expenses. After all, every time a termination is made and a new worker is hired, the institution pays dearly for it.
For example, there are the costs of termination, the recruitment and selection process and the training of the new employee. Another advantage of reducing turnover is the improvement of the organizational climate. As well?
When many workers begin to leave the institution, an uncomfortable internal environment is created. The result of this is more employees wanting to leave the company. Strategies to reduce company turnover
In addition, until the institution finds a professional to fill the vacant position, the other team members are overwhelmed by the accumulation of functions. With that, their stress increases and absenteeism too.
How to reduce turnover in the company?
As we’ve seen, there are numerous advantages to reducing organizational turnover. The problem is: how to do this? We’ll look at some ways to “chase that ghost” out of your company below.
1. Improve the selection process
A good way to start fighting turnover is to improve your recruiting and selection process. It may be necessary to develop new strategies for hiring a professional.
For example, the institution can map out positions and internal functions. In this study, all the activities inherent to an occupation will be defined and what skills and abilities a professional needs to have to occupy it.
With this information in hand, recruiters will try to find a candidate who matches the job requirements. In this way, the new employee will perform their work better and will also adjust more quickly to their obligations.
2. Develop a career plan
Have you ever been lost somewhere not knowing where to go? How did you feel? Maybe you wanted to get out of that place as quickly as possible, right? Likewise, employees are disoriented when they do not have a career plan . And the effect of this is demotivation and the desire to change jobs. Strategies to reduce company turnover
According to a survey published by a magazine , most young people are attracted to a job opportunity when a structured career plan is offered.
Therefore, institutions that provide their employees with this career direction are more likely to retain them. The internal team understands the path they will take, what they need to do to receive a promotion, and what benefit they will have when they reach a new position.
3. Invest in employee training
Another aspect that reduces turnover is the investment in employee training. For this, it is necessary to structure an internal training program . When the company is concerned with educating the internal team, everyone feels valued.
Because employees perceive that the institution wants their intellectual and professional growth. In response, they increase their engagement and trust in the organization and reduce their desire to leave.
4. Offer benefits
Some companies have noticed that instituting an internal benefits policy reduces turnover. Many professionals even prefer to receive more benefits than a salary increase. Strategies to reduce company turnover
But what perks can the institution offer? Currently, benefits that influence the quality of life of workers are the most requested. For example:
- flexible working hours;
- days off;
- discounts at gyms, theaters and cinemas; and
- a dinner with the family.
As these options impact the well-being of employees and affect their emotions, they naturally remain within the company’s internal environment.
5. Talk to your team
A very effective tactic to retain professionals is the feedback policy. With this strategy, the company opens the lines of communication between top management and employees. This approximation is essential, as it improves the internal climate. Strategies to reduce company turnover
In addition, employees feel more confident in their leadership . They notice the interest and attention in your services and are grateful for suggestions to improve their tasks or praise for the good work done.
Some institutions use the 365 assessment to provide feedback. In this methodology, everyone in the organization receives daily advice and suggestions about their professional performance. It’s a great idea, don’t you think?
6. Think about quality of life
Investing in quality of life is to include internal actions that directly impact the health of employees. This practice involves providing a comfortable workplace, efficient equipment and a light atmosphere.
To achieve this, some organizations encourage the practice of physical activities, reserve an internal place for employees to relax, schedule happy hours and, at certain times of the year, allow employees’ family members to visit the company’s premises. Strategies to reduce company turnover
These strategies relieve the exhausting routine of professionals and make them enjoy working at the institution.
7. Measure performance
It is good to monitor the performance of the internal team to know how their productivity is doing . By doing this, managers anticipate possible terminations in the future.
Therefore, some attitudes can be taken to improve the morale of workers, such as: reduction in working hours or the inclusion of corporate events.
8. Control the working day
Excessive hours worked, the accumulation of overtime and employee vacations lead to increased turnover. To avoid this, it is essential to have a good management of the employees’ working hours.
A tool that helps in this task is the FolhaCerta application . With it, managers have control of the bank of hours through an electronic device. In this way, there will be no employees who are fatigued from working so much that, in the end, they ask to leave the company. Strategies to reduce company turnover
Finally, the institution cannot prevent some employees from leaving its team, as this is something that will always happen. However, it is possible to avoid this attitude being the rule. By applying the suggestions in this article, you can be sure that your internal team will love working with your company.