4 Tips for Improving Your Employee Attrition Rate
Around 50% of people hate their jobs, and people that hate their jobs find new ones.
So, look around at your staff. Can you tell which employees are daydreaming about a different career? If your employee attrition rate is high, the answer is likely to be most of them.
You might think it’s the job description that’s the problem, but as a manager, it’s up to you to make that role more appealing. If you don’t have an employee attrition strategy, it’s time to get one.
Read on to find out more.
1. Revamp Your Onboarding Process
Lack of communication is the third highest reason for job dissatisfaction. During the onboarding process, you need to clarify a few things that set out your expectations of what your employees will be doing daily.
You should clarify the exact scope of their job role, the importance of deadlines, and what to do if an issue arises.
Making each of these aspects clear when you hire employees will help them understand how to manage their workload, and they’re less likely to be unhappy with or uncertain about their job role.
2. Incentivize Staff
The main reason for high employee attrition rates is simple: the pay isn’t right. Therefore, it’s time to review your compensation packages. This doesn’t just include salary; it also encompasses other benefits and perks.
You should offer annual bonuses, hybrid workplace models if possible, healthy lifestyle vouchers, team prizes for great work, and any other perks that’ll make life at the office more amenable.
3. Review Management Styles
You may have heard it said that ‘people don’t leave jobs, they leave bosses,’ and this is often true.
Even in the most menial or difficult jobs, dedicated staff will stay if they feel supported by their management. So, have a look at the employee attrition rate for each manager in the company: you may have a weak link somewhere.
You should also send anyone in a management role on regular upskilling courses to refresh them on the importance of supportive management.
4. Employ High-Quality Staff
Of course, you can improve conditions for your workers, and this will help with high attrition rates. However, it all starts with the caliber of employees you recruit in the first place.
Ensure that you’re only hiring the best talent, and you’ll notice your turnover rate decrease. These employees will strive for greatness and bring it to your brand.
Improve Your Employee Attrition Rate Today
So, that’s the 101 on how to improve your employee attrition rate. If you want a happy and engaged workforce, these five tips will put you well on the way to achieving that goal.
The only question is, what are you waiting for? It’s time to change your workplace environment for the better. Both your employees and your annual profits will thank you for it.
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