High employee turnover rate can be costly or even damage the company performance. Here is our advice to prevent it from happening.
Hire the right people
Keeping employees starts ever since the recruitment process. Besides having the skills and potentials, Human Resources also needs to be sure that the candidates will fit or able to adjust to the company’s culture, managers, supervisors, and coworkers by asking some behavioral interview questions. Giving brief and honest information about the business and company`s culture might help the candidates to self-eliminate themselves.
Offer competitive salaries and benefits
All employees want to be compensated properly to cover their fixed and variable expenses. Ask Human Resources to run surveys of salary range in the market to make sure you have set the right compensation. Besides decent salary, most employees are also looking for other benefits such as insurance, retirement plan, development programs or even, flexible work time.
Give encouragement and praise
Don’t overlook the power of encouragement and praise such as putting them on the stretch assignments, offering help and coaching, and acknowledging their achievements will give a sense of being supported, motivated and appreciated and these will likely make them stay.
Give realistic demands and workload
Giving a structured and fairly divided workload is important to boost employee productivity. Assisting them to prioritize and delegate tasks will also prevent them from burning the candles at two ends.
Run surveys regularly
Ask Human Resources to run surveys regularly to assess employee’s satisfaction and identify potential problems. Interviewing the resignee will also help you to identify the root cause of high turnover employee rate.