Employee Turnover 101 - part 2
In part one of the employee turnover series, we discussed how employee turnover is defined and measured. In part two of this series, we are moving on to the methods of solving it.
Employee turnover is the most concerning and fearful term in the HR industry that needs to be reduced before it causes more problems.
Measure and Analyse turnover:
If you are not aware of your organization’s turnover rates, it becomes difficult for you to bring about change and build an engaging workspace.
Start by measuring turnover and analyze why there is a turnover in the first place. When an employee leaves the organization, how many times do you really know the reason for them leaving the job?
Survey engagement is one way of finding this out. If you are scared to take the survey and learn the truth that you don’t want to hear, you may have to hear about it even when you are not in a position to fix it. Glassdoor provides insights from the employees of the company.
There are many tools out in the world that can help you carry out an effective survey if you don’t want to conduct a survey manually once in a while. Tools like UnderstandBetter conduct a survey without any human interaction required!
Identify the problems that have pushed the people to quit. The decision to leave a job is not made easily or over a day, at least not in the majority of the cases.
Transparency doesn’t necessarily mean sharing all the confidential information or the salaries of your employees. Transparency is more of a culture which imposes belief among the employees that they can trust their employer.
The relationship between the employer and employee relies on a lot of factors, amongst which transparency is one. A recent survey performed by UnderstandBetter concluded that transparency increases trust the employees hold over the management.
Ask yourself the question, ‘why are you not sharing a particular information with the team?’, if your reason is validated, then it should be fine. But if you can’t, then the team is better off informed about it. Information like what they are working on, why they are working on it, what is the importance of a certain decision being made, the knowledge about the company progress can ultimately motivate the employee to do better.
Identifying the right information that your team should know. This builds more trust with your job and employees, in fact, put in that extra bit of effort and get through tough assignments when they know they are contributing to something big. Surveys are a sure way that helps you identify them.
The expectations you set for your new employee and what they experience after they join has to fall in the same line. If there are differences between them, then the employee shouldn’t be blamed for being dissatisfied.
Set your expectations and let the employee be aware of it. The culture and work method shouldn’t come off as a surprise for them. If you are thinking of a career opening, make sure the candidate knows about the weekly work hours, holiday allowances, work ethics, culture and the other benefits and values they should be aware of.
Soft skills are one of the most valuable characteristics to look for. That doesn’t mean if a person has great soft-skills but still not qualified for the job, you can hire them. There needs to be a balance between the both. But if you are looking forward to work with someone with a strong soft-skills, make sure you test it out before you hire.
Have your communication in order with the employee. To build a team with great understanding and greater relationship, it is important to focus on the communication with your team.
And the most important part is communicating back. If the employees have something to share with you but instead feels like they have been talking to a wall then they are going to stop giving feedback which is counter productive.
Also, it is not about how often you are communicating, it is about how effective the communication has been structured. If the employees don’t feel that their voices are being heard and there are no steps taken regarding the concerns voiced out then there is going to be an increase in turnover.
There are many ways to fix It,
- Having open hours at the office,
- Showing a record of the surveys conducted and the results incurred based on that.
- One-on-one meetings to discuss the concern voiced out
- Implementation is done by the managers based on the feedback
Encouraging growth by providing development and growth opportunities is necessary to sustain the talented employees.
If the growth of an employee is stagnant, then you are increasing the chance of resignation and attrition. Provide as many opportunities as possible for the employees to learn and expand. Bring in speakers, have sessions, access to events, host events, and allowing them to experiment in different fields as an activity.
A job that doesn’t grow or open to various opportunities is considered boring and people tend to start looking for opportunities that will provide them with all that.
Being a leader, you have the power to invest in employees activities and programs that increase their engagement and commitment to the organization.
Help the employees identify the purpose of their job. If an employee feels like they are on a job that is not as satisfying, they tend to go in search of one that offers that purpose.
Leaders can easily help their team figure out the purpose. All it needs is a little push and help to identify. Being a founder, manager, sales head, pizza master, or any job role that knows its purpose and helping your team attain their purpose is the mentor role they expect from a leader.
Sometimes the purpose of one certain job may just be lying there around and all it takes is to identify it. Making the employees understand how their work impacts the metrics and making them understand that is the biggest takeaway. This will motivate them to work with a sense of purpose.
Employee wellness is a very underrated concern. Employees need to know and feel that their wellness is important and valued by the management.
There are a lot of ways to do that. Check out our previous post on how to design an employee wellness program.