Does your small business experience a high employee turnover? If so, you’re sure to want to find ways to reduce it.
Here are six simple and effective ways to go about it.
1. Come Up with an Effective Recruitment Strategy
One of the best ways of reducing high employee turnover is to ensure you select the right employees to begin with. So, make your recruitment strategy a high priority. The first step is to create accurate job descriptions. You can then better find the right people for your positions.
If someone starts working for your small business and then discovers that the role and/or the business isn’t what the person expected, it’s more likely to result in the employee leaving after a short period of time.
In addition to writing accurate job descriptions, it’s imperative that you hire employees who match those descriptions. Your workers must have the right qualifications, skills, and experience.
Furthermore, you need to ensure that the people you hire are a good fit for your company, such as having the right attributes and aligning with your company’s values.
2. Thoroughly Train New Employees
Hiring the right people for the job is just half the battle. It’s just as important that you spend time training your new hires so that they know exactly what to do and what is expected of them.
If you provide little training and place new employees in the deep end, they will be dissatisfied with your company early on and are more likely to leave after a short period. They need to feel like you’re investing in them and that you care about their inductions, so never skip on training and induction programs if you want to reduce your employee turnover.
3. Encourage Feedback
If employees feel that they’re not able to give feedback, or they feel that you don’t listen to and act on feedback, they’ll soon become frustrated and not feel valued. In turn, that means they’re more likely to look for work elsewhere.
You should always have time to listen to your employees, and you should always take the appropriate action to solve any problems your members of staff are experiencing.
4. Give Out Custom Awards to Recognize Employees’ Achievements
Employees need to feel valued throughout their careers. So, make sure you show your appreciation for jobs well done.
That can be as simple as saying “well done” or “thank you” at the right times. But you should also look at rewarding your top performers when they achieve certain things and go above and beyond the call of duty.
You could give out things like chocolates and bottles of wine. But to truly recognize your top performers, and in turn reduce the likelihood of your top talent leaving, give out customized awards to recognize employees’ achievements.
At FineAwards, you’ll find a wide variety of custom engraved awards and plaques that are ideal for recognizing top-performing employees’ contributions.
5. Provide Ongoing Training and Promotion Opportunities
Even if your employees are happy in their roles and with your business when they first start, if you don’t actively ensure they are happy and satisfied in their work over the years, you could end up losing your best workers.
Top performers tend to want to learn new skills and advance in their careers, so it’s a good idea to provide further training and promotional opportunities throughout your employees’ careers.
6. Regularly Review Pay and Benefits
Lastly, employees who perform well will want to see an increase in pay and possible benefits over time, so make sure you regularly review the pay and benefits you give your workers.
While employee compensation will largely depend on your small business’s budget, you should still review salaries and benefits regularly and do what you can to ensure your workers are happy with their packages. For instance, you could provide bonuses rather than pay rises.
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