Staff turnover leads to significant costs from recruitment and training processes. Reducing staff turnover is fundamental to boosting profits in your bottom line and indicates a higher level of employee satisfaction.
Perfect your hiring process
Staff turnover will continue to rise or remain at the same rate if you hire people that are not the right fit for your business. You may need to have a look at your hiring protocols, your job description and who attends the job interviews to make sure that the person you are hiring is appropriate. Cultural fit can be difficult to predict, but previous experience and a detailed reference should point you in the right direction.
Create a positive working environment
Your work environment should boost employee satisfaction in the interests of performance and reducing staff turnover. Consider the following checklist:
- Train superiors to recognise excellence and give frequent praise
- Pay on time and the right amount
- Give your employees room for career progression
- Support flexible working hours