17 Apr How can I reduce the high turnover rate at my workplace?
A high turnover rate is when multiple employees are hired, resign, and new employees are hired very quickly and consistently. When many employees are coming and going, it can cause a lot of stress. It becomes extremely challenging to establish a consistent and successful workplace, and further, costly to constantly train new employees.
In this case, as the employer, you should be questioning why your methods and workplace culture are causing these high turnover rates. It is likely that there is something happening in the workplace environment that isn’t favourable for employees.
How can you respond and reduce future turnover?
Take time to examine your turnover rate. It can be informative to dive deeper into who is no longer working for your company and why. The employees may have explicitly stated in an exit interview, or you may have collected data over time that displays underlying patterns. In any case, it may help to pinpoint what areas of your business need improvement.
You may need to create a more intentional hiring process. As an employer, you should focus on how potential hires will fit into the company culture. Employers must be aware that this process should in no way be discriminatory. These conclusions should never be about age, race, ethnicity, gender, sex, sexual orientation, disabilities etc. Determining who is a good fit for a role is based on how they complete tasks, their skill, how they respond under pressure, how they react to wins and losses etc. If these behaviours strongly match the company’s culture and values, then you know you’ve hired the right candidate.
Review how much you are paying your employees and consider whether it is reasonable given the current economy. If you are paying too little, employees will go where they are offered more. As an employer, you need to spend time doing research into how much the rest of your market is currently compensating their employees.
Encourage your employees. When your employees are doing well, providing positive reinforcement can go a long way. It is critical to recognize that compliments don’t need to be made only when your employee accomplishes something substantial. You can show support even when they complete tasks faster than they normally do, or when they finish a large assignment. This behaviour tells your employees that you value their work and that their dedication isn’t going unnoticed.
Provide employees with the opportunity to develop and advance in the company. It is beneficial to illustrate to your employees where they could go in the future and how it could positively affect their career path. When employees know how their daily actions can influence their future, it can evoke a clearer purpose and commitment to the current company. To make these goals a reality, you can provide training and professional development to help ensure the employee will have the proper skills for advancement.
If you are an employer who requires help creating new policies or advice on what legal steps can be taken to decrease turnover rates, please contact KCY at LAW by filling in an online consultation request or contact us by phone at 905-639-0999 to book your consultation today.