6 Ways to Reduce Employee Turnover in Your Organization

According to the Work Institute, a human resource consulting firm, 41.4 million US workers voluntarily left their jobs in 2018. That’s more than 27 out of every 100 employees! The same report mentions that “each employee departure costs about one-third of that worker’s annual earnings, including expenses such as recruiter fees, temporary replacement workers, and lost productivity.”
infographic depicting US employee turnover in 2018
It’s clear that turnover can cost your company thousands of dollars each year. Here are some things you can do to help reduce your company’s turnover rates:
  • Conduct Exit Interviews and Analyze the Data: Want to know why people are leaving your company? All you need to do is ask them. Not only will you find out why they decided to leave, but you’ll get some valuable feedback on what can be done to improve your work environment. You can then use that data as proof to make changes you need to make. Just remember that exit interviews should always be voluntary on the departing employee’s part.
  • Review Your Management: One of the primary reasons why employees leave their jobs is because of the management. Managers should be ready to work with different personalities, not the other way around. Meet with your management team and help coach them to adapt their managerial styles.
  • Enhance Onboarding and Training: A poor onboarding and training experience is not just a poor first impression of the company, but can lead employees to question their future with the company. Make sure that you have a plan for onboarding and training new employees to make sure they are set up for success.
  • Staff Adequately: One of the most important things that you can do to help improve your retention rate is to staff your company adequately. Make sure you have enough workers to fill your production requirements. Take it easy on overtime hours – some employees love it, while others may feel worn out. Use staffing agencies to help ease the workload of your full-time employees.
  • Foster a Positive and Respectful Work Environment: Work can be difficult and stressful at times and working in a hostile and disrespectful environment makes it worse. Listen to your employees, especially when they bring complaints or suggestions to you. Avoid ridicule and shaming at all costs. Finally, take time to show your employees that they are valued.
  • Offer Feedback and Recognition: Positive feedback and recognition of a job well done is a powerful way to reduce turnover, as well as an excellent way to increase motivation and morale. People want to know that their work matters, and the only way they will know is if they are told. Encourage your managers and leads to provide positive and timely feedback.
Turnover is a part of any business. By being open to discussion and ready to make necessary changes, you can help reduce turnover in your organization. XCEL works with companies to help them meet their employment needs and help reduce their turnover rates. See how XCEL can help you by clicking here!
Infographic depicting ways to reduce turnover in your organization