How to Reduce Turnover at Your Company

At any company, no matter how large or small, the people in your business are what set you apart from your competitors and are generally your largest investment. When you have great employees, you want to protect that investment by creating a work environment that encourages employee engagement. Instead of thinking about decreasing turnover, shift your mindset to increasing retention.  This moves you from defense to offense and helps you keep employees engaged.  Here are some tips on how to increase retention (and decrease turnover)  at your company.

Keep Employees Happy

Ensuring employee happiness through adequate benefits packages, a good working environment, and a positive company culture will all help toward overall retention and reduced turnover. Be sure to stay up-to-date with the best practices for employee counseling, employee reviews, and exit plans for when an employee is under-performing. According to Legally Mine, while employers are generally free to terminate employees, ex-employees have a case against you if discrimination is involved in the decision. You can help to mitigate the risk of harassment or discrimination by continually developing your leadership and management skills.

Implement Employee Feedback

Good companies are willing to have a two-way conversation between leadership and employees. Create an environment where employees feel welcome to provide feedback to help with continuous improvement. To get the best feedback from your employees, ensure that you are framing your questions in a way that allows honest and constructive feedback. Achievers suggests offering anonymous surveys where employees can feel safe speaking openly and candidly without fear of repercussions or retaliation.

Engage in Servant Leadership

In short, Toggl describes servant leadership as a people-first approach to management. By ensuring your team members have all the tools and training they need to enable them to succeed, they will, in turn, pay it forward through productivity and organizational loyalty. Servant leaders never miss an opportunity for team building and engage in opportunities to promote unity and cohesion. Servant leaders empower employees to take mastery over the things they’re responsible for and, in turn, ensure employees are thanked in meaningful ways and made to feel like they are making valuable contributions to the organization as a whole. 

Overall, increasing retention at your company can help maximize productivity and reduce overall downtime for rehiring and retraining. Good companies will ensure employees are well taken care of by offering competitive benefits plans and maintaining a good working environment free from harassment or discrimination. Companies can also encourage a two-way conversation by soliciting feedback. Lastly, servant leadership is a common philosophy among leaders who have successfully built team cohesion and unity.

Looking to build a high-performing team? We can help put the right person in the right position.