A foolproof solution to retaining employees may not exist, but when businesses are aware of the impact of the company's environment and how it affects employee turnover, job satisfaction is likely to follow. Snuff out the myths and pitfalls that may mask your ability to evaluate turnover to ensure your company and its employees are thriving.
A common myth employers subscribe to is that when employee turnover is low, the workplace environment is in good shape. The truth is that low turnover may indicate employees are stagnant and unable to find a better, more-fulfilling job at the moment, according to Karaka Leslie for The Pace Staffing Network. Employees who are dissatisfied and complacent often become lazy, nonproductive and disengaged with the company, which can impact the nature of customer service and client relations. Toxic employees may hang on to a secure position but their negative attitudes impact the workplace environment significantly.
Employers may also believe in the myth that an employee who chooses to resign was never a good fit for the company. Although there are employees who may not be right for the job, a resignation notice does not mean the company is better off with the employee's absence. Employers must take notice of the company culture to evaluate if it contributes to turnover and assess training and management to improve operations and retain employees. Avoid making assumptions that employees leave for more money when in fact, they may leave to obtain a more positive workplace environment.
Employee turnover is a natural part of the workplace, but subscribing to the myth it is on the rise is not accurate. Turnover rates have remained relatively stable, as of 2014, which is why employers should question and evaluate practices that may lead to a higher rate of turnover and seek strategies to help with retaining employees on a regular basis.
Battle high employee turnover by taking an honest look at your management team, training opportunities, employee incentives and compensation packages. Consider creating team meetings to lift morale or offer incentives to motivate employees, recommends John Krautzel for Nexxt. Take an honest look at how tasks are delegated, how employees are treated by management and methods of communication that are ineffective to reduce employee turnover. Hire a consultant to assess the company culture to identify personality or professional conflicts that often lead to job dissatisfaction. Utilize this information to implement change. This shows employees you are committed to a better working environment.
Know the myths that surround employee turnover to position your business as an attraction for job candidates. Word travels fast when employees are satisfied, and providing incentives and motivation to boost morale may result in a boost in productivity and profit.
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