Finding employees who can benefit your business isn’t always easy, and when you do find them, you don’t want to let them go without a fight. However, if there are problems within your business, or your employees don’t feel valued, keeping a hold of them might not be so straightforward.
Unfortunately, employee turnover can prove expensive for a business, and while replacing them can be costly, it can also have a significant impact on the morale of the company as a whole. Overall, having employees regularly leave your business isn’t good for anyone, and below are a couple of the main effects of high turnover:
- Social networks are disrupted
Many strong and lasting bonds are formed between employees in work environments, and when someone leaves, that loss is felt not just by the business, but by the social network they were once a part of.
Social networks play an integral role in the maintenance of healthy workplaces, and when that’s disrupted each time an employee leaves, it can impact the entire organization.
- Employee morale takes a hit
When employees see their co-workers leaving regularly, they may start to question their own role and worth within the business, and ask themselves whether they wish to remain committed to it, or jump ship, too. Over time, this can lead to lower levels of productivity and employees who are less engaged, which serves only to add to the problem of high turnover for business owners.
However, by trying to boost employee engagement within the company, business owners can do more to prevent employee turnover, and here are 3 examples of how this can be done:
3 ways to increase employee engagement and reduce turnover
- Maintain open lines of communication
Not only should employers regularly communicate their ideas, concerns and feelings with their employees on a regular basis, but they should make sure that it’s a two-way street. Employees must be made to feel as if their opinions matter, and that if they have something to say, that they are being listened to by those at a management level.
Regular team meetings in which everyone gets a chance to speak if they wish, is a simple way of maintaining communication levels with employees, and you can check in with employees on an individual basis as often as you like, too.
- Give them chances to learn and develop their skills
Being able to pursue their careers while working for you, or simply learn a new skill that will help them fulfil their existing role more effectively, can help keep employees engaged and encourage higher levels of productivity. Fortunately, this can easily be done with a range of programs designed to help them train and develop their skills.
- Promote a heathier work-life balance
Asking too much of your employees (even if they are great at what they do) is likely to contribute towards feelings of burn-out and dissatisfaction, and an employee who is feeling overburdened and overworked, is never going to be an asset to your company.
With such things as flexible working hours or arrangements, or even remote working, you can help ensure that they’re not overworked and overstressed, and it goes without saying that you should provide vacation pay, and paid sick leave and personal days to help employees better balance their personal lives with their working lives.
Healthy payroll and HR
By outsourcing your payroll and HR functions, you can also help make sure employees are paid on time and in full, that they get access to all the benefits they’re entitled to, and that they have someone they can turn to should they need to voice their concerns about something work-related, at any time.
Employee turnover may not always be something you can control, but by following the 3 tips above – and outsourcing your payroll and HR functions – you can do your best to keep employees engaged and prevent them from leaving your employ.