We welcome freelance writer Scott Matthews who makes is debut with his first Blog for Zenopa.
Scott is an experienced editor and writer for essay writers. He loves sharing inspiring tips on success, self-improvement and management on Rushessay.com. During his leisure time, you’ll find him mentoring students on Uk-dissertation.com or riding his horse.
“We welcome freelance writer Scott Matthews who makes is debut with his first Blog for Zenopa. “
Here he discusses the best kept secrets to preventing employee turnover:
"Employee turnover is costing your business a lot of money. While every business can expect to have some turnover, poor management is one of the leading causes of high turnover.
As the Labor Statistics reports, turnover can cost your business approximately 33% of an employee’s compensation which includes wages and benefits. Apart from the financial impact, there is also employee morale. Poor morale is one of the factors which negatively impact productivity and performance.
Every HR manager needs to think of ways that will reduce employee turnover. But first, you have to understand why employees are leaving your organization. Remember, good employees, don’t leave great organizations. They leave poor managers. Let’s discuss some of the reasons that lead to high turnover.
1. Negative environment
Studies by assignment help show that your environment can improve or adversely affect your productivity and performance. A negative environment not only affects the quality of results but also peace of mind.
Some of the common things that can be witnessed in a negative environment include rudeness, retaliation, gossiping, assigning blame and favoritism to name a few. All of these things eventually lead to resentment.
2. Work-life imbalance
When most organisations downsize or restructure their systems, employees usually find themselves working long hours or doing the work of more than two people. Employees find themselves in a position where they have to choose their work life or personal life. And this does not sit well for young adults or spouses.
3. The job does not meet expectations
According to Best Dissertation, it’s become a common practice for new employees to be promised lots of great things so that they can deliver their duties and responsibilities accordingly. As time passes, they start doubting the managers and the organization as a whole. And this leads to mistrust.
4. Lack of recognition
Human beings are social creatures. Everyone has a need to be recognised and accepted by others. At the workplace, the same holds. Recognition needs not be monetary alone. Experts report that the most effective way to recognise employees is sincere appreciation.
Recognising employees is not one of the easiest things to do but it’s one of the best ways to appreciate the good work of your employees.
5. Lack of coaching and feedback
Great managers understand the importance of coaching and giving feedback to their employees. Poor managers postpone giving honest feedback and coaching their employees. And this leads to a decline in productivity and performance.
6. Unstable organisation
When the management keeps shuffling people and changing directions, employees get disconnected from the organisation’s vision and mission. And this leads to confusion and a decline in productivity.
7. Frozen career
As Bestessays.com.au, every human being wants to progress in life. No one wants to fall behind or take backward steps. Your employees want their careers to progress gradually. An organisation that does not offer promotions and raises from time to time is doomed to fail.
So how can you prevent excessive employee turnover? Here are some of the best-proven tips. Some might be familiar and others might be new. However, all of them should help you inspire loyalty from your employees.
1. Hire the right candidate
The best way to avoid high employee turnover is making sure you are hiring the right people in the first place. Define the roles, duties, and responsibilities clearly for your candidates. And then ensure that the candidate fits with the position and the organisation’s culture.
2. Fire those who don’t fit
According to pay for paper, you need to cut your connections with employees who don’t fit. Firing an employee who doesn’t fit is not a bad thing. It will not only improve the performance of the organisation but also help the employee find another job that best suits him or her.
3. Update benefits and compensations regularly
You should always pay your employees for the work they’ve done fairly. If you fail to compensate them or offer them benefits, you can’t blame them for ditching you, right? This might not seem like a big deal but you’ll be surprised by the number of companies that update compensations and benefits.
4. Recognize and reward your employees
Showing your employees that they are appreciated and valued will not only reduce turnover rates but also boost your organisation’s productivity. Recognising and celebrating their successes will enhance their loyalty.
5. Create a flexible working environment
Today, the majority of employees crave work-life balance. This is a sensitive issue because it affects productivity and turnover rates. A research conducted by the Boston College Center found that 80% of employees and 76% of managers said that work-life balance had a positive impact on retention rates. If your employees are complaining about work location and hours, you have to fix that now.
6. Make your employees happy
Employee happiness is not a priority to many executive managers. However, it’s the one thing that enhances job satisfaction. Investing in your employees’ happiness will pay in spades in the long run. Some of the best ways to make your employees happy include team building activities, taking suggestions and listening to their ideas and giving them more responsibilities.
7. Increase the opportunities for growth and development
Employees value opportunities for growth. A survey conducted by Cornerstone found out that lack of opportunities for growth and development is linked with high turnover rates. If you are not enhancing the growth and development of your employees, then they are falling behind every single day. Why should they continue working with you?
8. Improve performance management
A survey conducted by Mood tracker discovered interesting things about performance reviews. Only 49% of the employees find these reviews to be accurate. Only 47% find them motivating. This means that the majority of the employees receive negative reviews most of the time.
Performance reviews offer executives an opportunity to build trust and solid relationships with their employees. When you improve your performance management, you’ll satisfy your employees and they’ll be loyal to you.
9. Create an inclusive vision
One of the factors that enhance the engagement and happiness of employees is providing them with a strong vision and a sense of purpose in their work. Setting goals together and following up on them will increase their sense of belonging to the organisation.
10. Respect your employees
Respecting your employees is one of the best ways to reduce turnover in your organisation. When you respect your employees, they’ll respect you too. This means listening to their thoughts and opinions attentively, thinking of ways to solve a problem instead of assigning blame, compensating them on time and having a genuine interest in their well-being.
By using these tips, you’ll build a solid culture in your organisation that will lower your turnover rates and retain the best employees for years."