How to Slash Employee Turnover Rates

By now we know how disruptive employee turnover is to a company. However, high turnover rates have become the norm in many offices. In fact, Fast Company reports that men will hold an average of 11.4 jobs in their lifetimes, while women will have 10.7.  Today, the average person has spent less than five years at their current job, which would have been almost unheard of in decades past. To prevent a high turnover rate from wreaking havoc on your company, consider these tips:

Keep the focus on employee satisfaction

While your company must be productive and serve clients well, you also can’t forget about the happiness of your employees. If your clients are pleased but your staffers are miserable, it will be hard to keep your company on track. You shouldn’t lose sight of your business’s ultimate goals, but it’s also important not to sacrifice employee satisfaction as you go

Make it a point to regularly check in with your staff members. Find out what’s working for them and what isn’t, and ask what could be done to make them happier. Showing your team that you care about their well-being and happiness will resonate with them, and can help to keep them excited about coming in to work each day.

Take suggestions seriously

Many managers ask employees what could be done to make them happier, but then completely disregard these suggestions. If you want to keep your staff members happy, you have to actually listen to what they have to say. While it may take time and energy to figure out how to implement their suggestions, this is a vital part of slashing employee turnover rates. Employees are not commodities. They should be treated with care and respect.

Don’t forget to say “thank you”

Many managers are so caught up in their work that they forget to take time to recognize a job well done within the office. Even just a few words of praise can go a long way when it comes to encouraging a team member to want to stay. If someone went above and beyond on a project that landed a new account, express your thanks and pride. It’ll take just a few moments, but could make all the difference when it comes to that staff member’s satisfaction.

Make sure your employees see the value in what they’re doing

Employees who are happier are often those who genuinely understand and believe in what they’re doing. If you constantly make policy changes and don’t explain why, your team members will begin to feel disconnected and will lose their passion for their job. Make sure that you are communicating openly with your staffers, and help them to see why their work matters to the company as a whole.