5 ways to help reduce high employee turnover

So, what causes high employee turnover?
Is your company losing good employees?

If so, you will find that it is also impacting your profitability and often affects customer satisfaction. It can also be very costly to recruit new staff.

There are many reasons associated with why good employees leave their job. It can vary from lack of employee purpose, poor compensation, being overworked, bad managers, little or no feedback or recognition, no opportunity for growth or development and a toxic or negative culture and the list goes on...

However, if your business has high employee turnover then it's in your best interest to reduce it and here are 5 ways that can help make a difference:

1. Hire the right people
Make sure your employees not only have strong skills that fit your requirements, but also align with company values and culture.

2. Offer a competitive salary + benefits
It's a good idea to do some market research on wages. Find out what your competitors are paying. If you don't pay your employees well they will find another company that will.

3. Give Praise and recognition
Show appreciation and acknowledgement when employees do good work. More often than not employers are quick to point out what you do wrong and don't often appreciate the good work. Give credit where credit is due.

4. Allow for flexible work schedules
If possible, flexible work schedules allow employees to create a better work life balance for themselves. Happy staff = high productivity.

5. Organising effective team building activities
Creating an environment that promotes strong bonds amongst colleagues is proven to improve the efficacy of employees and enhance employee engagement.

As Zig Ziglar once said "you don't build a business - you build people and then the people build the business."

Do you agree?