When you own and operate a small business, you need your employees to be as loyal and dedicated to your company as you are. It can be incredibly frustrating to constantly find yourself in a scenario where you are forced to fill vacancies time and time again. Unfortunately, too much employee turnover can be a major drain on your company. Not only does it take you and your hiring team time to recruit, hire, and onboard new employees, time that should be spent on other tasks, but the rest of your team will start to feel overloaded from having to pick up the slack.
It is far better to adopt practices that encourage and promote employee loyalty and thus reduce the amount of turnover in general. This can be a tricky process, though, especially if it is unclear as to why employees continue to leave in the first place.
If you are currently facing issues relating to employee turnover, here are a few suggestions to consider that can help you to keep your workers around for the long term.
1. Hire the Right People
Even though you might not yet know precisely what is at the heart of your employee turnover problem, it might very well be down to the fact that you aren’t hiring the right people in the first place. If you simply rush through the recruiting and hiring process in order to fill vacancies as quickly as possible, you could simply be hiring the wrong people for the job.
It is important that you give the hiring process its due attention and aren’t filling open positions just for the sake of it. You need to do what you can in order to find the candidates who are going to be best suited to work for you.
If you don’t feel as though you have the time that you need in order to find the right people to join your team the first time around, you should look for ways in which you can delegate the tasks associated with hiring, such as writing job descriptions or conducting initial interviews. Processes like Recruiting Enablement can help to make your process more efficient overall as well.
By optimizing your recruitment and hiring process and making sure that you are hiring the right people to work at your small business, you can effectively reduce your employee turnover rates.
2. Evaluate Your Compensation
Even though it is true that money isn’t everything when it comes to employee retention, recent polls still indicate that compensation is the top motivator overall when it comes to reasons why people leave their jobs. Because of this fact, you should consider evaluating what you offer employees in these areas to ensure that your compensation is still competitive.
Essentially, you can’t really hope to attract and retain the top talent unless you offer the sort of compensation that they deserve. If your competitors are offering more appealing compensation, then you should do what you can to be more competitive in this regard.
3. Assess Your Company’s Culture
Aside from compensation, you need to ensure that the culture that exists at your company is such that people are excited and happy to be a part of it. If there are issues with the culture at your company, then your employees might be facing frustrations and difficulties that are driving them away.
For example, while there is nothing wrong with a healthy dose of competition in the workplace, you want your workers to still feel as though they are part of a team. If there is too much tension and conflict in the workplace, people might find it uncomfortable and off-putting.
It can be helpful to get the opinions of your employees in order to uncover any issues with your company’s culture. Even though people might not be comfortable discussing such problems with you directly, an anonymous survey can go a long way to helping you to get to the bottom of problems in the area.
4. Think About Your Role
While there are many reasons why issues with employee retention might be prevalent at your company. It is important to also consider what your role in things is. You might not be giving off the sort of impression to your team that you think you are. Difficulties with the boss can lead people to seek employment elsewhere.
Take a step back and think about your management style. Is it such that people feel comfortable coming to you with questions or issues? Are you just as good at listening to your team as you are at talking to them?
Make sure that you are doing all that you can in order to be as positive a presence at your company as you can be.
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