How to reduce employee turnover

A high employee turnover is bad for the reputation of the company, and it hinders the achievement of intended goals and budgets. Employee turnover can be reduced effectively by implementing staff retention strategies that include hiring the right people, carrying exit interviews, distributing tasks evenly, open communication, paying competitively and introducing employee benefit programs. A detailed knowledge of these strategies is given in this text.

Employee retention strategies

The following are employee retention strategies that reduce staff turnover rate. Employing the right people

It is important to hire the right people who are qualified to do the job if you want to reduce labour turnover. In some cases, people constantly change employers because they do not know how to execute their duties. Thus, they are either fired due to inefficiency or they simply resign.
Carrying exit interviews Employee exit interviews are important because various reasons why people resign or leave the company are revealed. This will foresee good decision-making processes such as addressing the problems that force people to resign, so as to reduce employee turnover.
Distributing work evenly Concentration of more work to one department and/or individuals reduces their morale at workplace, hence leading to employee turnover. It is important to evenly distribute tasks among employees and departments so as to avoid overworking other employees. Open communication It is important to avoid communication barriers at workplaces, and promote open communication among all employees. This helps to eradicate cases of human segregation and gossiping. Interactive communication at all levels promotes the sharing of ideas relating to production and individual challenges.
Paying handsomely Workers always seek an employer who pays competitively, and who recognise their efforts and contribution through paying handsomely. It is important to constantly adjust employees’ salaries in order to be in line with the economic poverty datum line, and try to make sure that they are able to meet their personal and family financial needs.
Employee benefit plans Other than good salaries, you can retain your employees by introducing benefit schemes such as clothing allowance, medical aid benefit, funeral benefit, discounted employee benefits, educational assistance and employee family welfare. You can increase the retention of employees by encouraging them to take out paid annual leaves.

Why reducing employee turnover?

Increase productivity and customer handling If the movement of employees in and out of the company is reduced, production is increased as you will be able to retain employees who know the culture of the organisation, who know your existing and major clients as well as employees who know each other through a long-working relationship.