On average every year a company can experience about 18% loss in their workforce which is known as employees turnover.
What is employee turnover?
Employee turnover is the measurement of the number of employees who leave an organization due to any reason voluntary or involuntary in a certain period of time and the most common period of time is one year.
Employee turnover is categorized into two categories: Voluntary turnover and involuntary turnover.
Voluntary turnover
At any given instance your employees can choose to leave your business due to many reasons. The most common reasons are a better job opportunity and not being able to fit properly in the workplace. There are many other reasons for voluntary turnover, but the most important thing about voluntary turnover is that the employee chooses to leave at their own will. Voluntary turnover accounts for about 70% of all turnover.
Involuntary turnover
When an employer fires employees due to their poor performance at the workplace or due to their attitude. This type of turnover is without the will of the employee and is solely the decision of the employer.
Any business has a certain number of employees, and it differs depending on the size of the organization. Your workforce is the most valuable and essential resource in the prospection of your business, keeping them at your business can be challenging so here are a few tips on how to prevent employee turnover.
1-Value your employees
Any human being loves to be valued and encouraged, so encouraging your employees can give them a great boost in their work. The mentality of your employees is very important to make your employees love the workplace and feel valued and that their work is important.
2-Make their jobs easier
Employees suffer a great deal in their jobs when completing their tasks whether they are easy ones or hard ones, so you need to make their work easier by any means. Presenting an employee self-service software can be a great leap in making your employees’ work easier. An employee self-service software can help them in knowing how many times off days they have, and when will their payroll be given out to them, and makes their time off requests to their superiors easier.
3-Hiring your workforce
Picking your employees is an important task and the most crucial one in your business, you have to pick your employees carefully. You have to pick employees who are qualified to finish the tasks assigned to them. Hiring capable employees is essential, your employees must work under pressure to finish on time as possible. Your workforce must consist of many employees, not just a few, organizations that have a small number of employees have a high rate of employee turnover. Giving a small number of employees more work to finish while keeping their payroll fixed without raises will cause your employees to burn out and search for other job opportunities. Increase the number of your workforce to decrease the load on your employees.
4-Increase engagement in the workplace
Another reason for employee turnover is lack of engagement, some employees don’t feel that they fit in the workplace, and they feel alienated in the workplace. Increasing enjoyment is a very helpful way to make your newly hired employees feel comfortable in the workplace. When hiring new employees, you have to introduce them to your workforce to decrease the tension. Increasing enjoyment can happen by organizing events outside of the workplace as dinners, parties, and also vacations. planning your employees’ birthdays as a surprise party for them can also be a great way to help your employees fit in more easily and get attached to your organization.
5-Flexibility in work
Due to the recent global COVID-19 pandemic, millions of people around the world have worked from home, and employees like the idea of working from their homes and getting their payrolls. Employees love the flexibility of having to work from home keeping their productivity and makes them more comfortable. Making your employees come once or twice to the workplace is important because some tasks can’t be completed from home.
6-Listen to your employee’s requests
Your employees will sometimes request a day or a couple of days off from work, every now and then approve of their requests to make them get rid of the work stress. using Employee PTO management software will make you manage the requests more easily. Your employees will appreciate you hearing them very much cause a successful manager who helps their employees and makes their jobs easier is a greater reason to make your employees stay at your business.
7-Give them room to grow
Give them room to express their ideas and feel that their voice is heard. Give your employees new projects and more complex ones to feel that they are growing. Promote your hardworking employees to make them feel their advancement in their jobs and that they have a good opportunity in your business to attach them more and not give them room to leave your business. Bonuses are important when an employee does extra work or says a good idea or when doing a certain project accurately. Also, a very important factor is emotional support and telling your employees that they are doing an outstanding job.
8-Fire your employees when necessary
Sometimes employees don’t fit in your workplace due to their personalities, or that they are not passionate about their jobs, you have to fire these types of employees to maintain your workplace’s friendly vibes. Another type of employee is the unproductive one who is always late at finishing their tasks and not doing their work properly or taking a lot of day off. Firing your employees can be a very awkward moment but it is an important one to keep up your productivity and not lose potential customers in the near future due to your employees’ behavior.
There is no guarantee that your employees will ever leave your business, at some point employees will decide to turn over your business. Their reasons for leaving may vary but they may leave so these are tips to reduce your employee’s turnover rate.