As a business, your employees are one of your most valuable assets, so it’s always worth investing in them to make sure they feel valued and stay with you. Whilst this may seem like a simple theory in practice, the reality is that many businesses in the UK and worldwide experience high levels of staff turnover that can be costly.
Naturally there can be various reasons for a high turnover, but here are 4 ways you can keep your staff turnover levels down and more manageable. This can not only help lower the costs to your business for recruitment and training, but also improve productivity levels.
Make the Right Choices
All too often in business, people don’t employ the right people in the first place, which has a significant impact on staff turnover. If you don’t employ the right individuals for your company from the start, you’re already at risk of losing employees more frequently. Make sure you have a thorough interview and vetting process in place to not only ensure candidates have the right skills, but that they are also a good fit with the company values, culture, managers and co-workers.
Make Your Staff Feel Valued
In any workplace, it’s important to make staff feel valued, as they’ll feel empowered and want to stay with you. This can be done very effectively with praise. Recognising a job well done, or an employee going above and beyond is one of the most cost-effective ways of making your staff feel valued and wanting to stay working for your company. Rewarding your staff, even for the smallest things can go a long way to making them feel more valued, which in turn will make them want to continue to do a good job. How you do this, will depend on the type of business you’re in, but reward schemes, employee of the month accolades, a monthly newsletter with employee highlights, will all demonstrate to your staff that what they do for you as a business matters.
Create a Healthy and Safe Working Environment
The other thing to consider is the type of environment your employees work in. If employers create a safe, healthy and positive environment for their workers, inevitably employees will get much more enjoyment out their work, which can also improve their productivity levels. A good place to start is by addressing health and safety concerns and taking them seriously. For example, if you operate a high-risk environment, such as factories, warehouses or construction always ensure you have the correct health and safety procedures and equipment in place. This could be appropriate safety clothing such as high visibility jackets, steel toe-capped boots or packing tools like a safety knife.
Engage With Your Staff
Making sure you have good engagement levels with your staff and listening to what they have to say can also help to lower turnover. It naturally ties in with them feeling valued, but giving them plenty of social interaction, challenging and rewarding them, as well as offering them flexibility will create a more open and social environment all-round. If employees know they have the freedom to express their opinions and understanding from their employers they will be more inclined to stay with you long term.