Reduce Employee Turnover Without Reducing Profits

Turnover Rate Reduction + Profit Increase

Have you ever been in that place where you think your business is running well and then all of a sudden one of your newly-trained employees quits? It’s a nightmare! When you put time and money into hiring an employee only to be left holding the “help wanted” sign again. We know how frustrating turnover can be, which is why we want to share 4 tips on reducing employee turnover.

Step 1 to Reduce Employee Turnover: Character Counts

Make a list of character traits you want in a team member as well job experience. Focusing on the character of your potential hire will ensure that you’re getting someone that identifies with your company’s mission statement and goals. If they don’t align with the direction that you and your company are moving, chances are they won’t stay around for the long haul.

Step 2 to Reduce Employee Turnover: Get Personal

Employees often stay or leave a job based on relationships. The stronger the relationship, the longer they are likely to stay. Take time to get to know your employees on a personal level AND let them know you. You will build trust and communicate to your employee that you value them, which is the real glue to any long-lasting team.

Step 3 to Reduce Employee Turnover: Give Feedback

Another top reason people leave jobs is because of the lack of communication between them and management. It has been said that people only understand a topic ⅓ as well as the person communicating it. That means you often need to over communicate requests, responsibilities, changes, etc. It also means you should anticipate miscommunication and encourage employees to seek clarity when they are unsure of instruction.

Step 4 to Reduce Employee Turnover: Slow Your Roll

Don’t be afraid to wait for the right employee. Hiring out of desperation often means an ill fit. You might have to call in reinforcements, put in longer hours, or ask other employees to work more often, but taking the time to find the right team member will pay off tenfold.

As you put these tips into practice, you’ll start to see a change in your company. You’ll save money hiring and training people, and most importantly, you’ll start to build morale amongst your team which will surge your company forward. At Pay-tech. , we can help you put the right team in place. Contact us to learn more about how our human resource experts can assist your small business as you search for the perfect employee.