High turnover is something that most large companies experience at one time or another. It’s part of the process and doesn’t necessarily mean your business is a terrible workplace. While it is to be expected, there are ways to be proactive in reducing high turnover rates that will help your company save time and money on new recruitment.
Take a Look at the Recruitment Process
Hiring the right people is the first step in keeping them. Understand where you are finding your new hires. Is it through recruitment ads in the Bay area? Are you listing openings on job sites such as Indeed? Targeting hiring ads to reflect your job listing will help save time and get the right people interested in your job. Once you have candidates, look into the standard interview process your company is using. Make sure the requirements for the position are clearly defined and to ask candidates what they are looking for in a job or where they envision their career in the future. Another important consideration is the workplace culture. Is this an environment where the potential hire will fit? Be sure to tell them about the workplace culture honestly to help both of you decide if they belong.
Support Employee’s Career Goals
Employees want to feel heard in the workplace. Treating your employees as individuals and not just numbers is a good way to have them stick around. One way to show your support is taking their career goals into consideration throughout their employment. Set up meetings to discuss their position and areas they want to grow in. Not only will this benefit the individual, it will also benefit the team overall as you might uncover underutilized strengths.
Keep an Eye on Your Compensation
Offering competitive pay and benefits is one of the most effective ways to reduce high turnover. If employees see that other businesses in the Bay area are offering higher pay for the same work, there is little reason for them to stay at a lower-paying company.
Create a Place for Honesty
If there is something negative or frustrating happening in the workplace, employees sometimes feel uncomfortable voicing it in an open setting. Create a system where employees can sit one-on-one with a manager to voice their opinions. In addition to this, setting aside time for a Q&A in the workplace is also helpful in creating a transparent environment.
All of these strategies are important to keep in mind when reducing turnover. The bottom line is that employees like to feel heard. If employees feel invested in your company, they are more likely to give it their all.