How to stop the revolving door: 5 effective ways to reduce staff turnover
There are times where employee turnover is out of your control. However, a lot of the time, poor staff retention is a reflection of subpar recruitment processes, or a need for your company to upskill managers to improve their people management skills.
A few adjustments could go a long way, so today we are sharing our expert strategies to retain the great talent you have in your Perth company.
#1 Upskill, train and hold managers accountable over the retention of their staff
Take a look at the managers of your company, what is their management style? Are they the kind of manager who is tough? Perhaps they believe in a very hierarchical style of leadership? This will tell you a lot about what needs to change for the good people to stick around. It’s imperative to acknowledge and recognise bad people management practices when you see them, and to do something about it.
#2 Scheduling and flexibility
Having the right people in the right place at the right time is imperative to the operations of your business. Flexibility has become a cornerstone requirement of workers these days, so this means shorter, more regular shifts. If you do not have the right systems in place this can mean extra administration time, and more margin for error. We recommend using a purpose-built software for scheduling and accounting for flexibility, you get the visibility you need to ensure optimal staffing levels while you accommodate your employees’ shift preferences.
#3 Invest in your team with regular training, development and career advancement
Providing regular valuable training shows your employees you care about them and are invested in them. If you want to keep your employees from jumping ship, give them a comprehensive training program that allows them to build on their skills, and learn new skills along the way too. When it is time to fill new positions, it is always better to promote within rather than seeking eternally. Promoting within, training staff regularly and developing on their skills will boost your employees’ confidence, making them feel more invested in their jobs.
#4 Recognise staff wins
Everyone likes celebrating a milestone or a victory. It’s so imperative to take the time to publicly share praise where it is due. A genuine kudos is a great motivator and goes a long way to creating a positive working environment. Everyone likes to be acknowledged and seen as more than just a staff member. You can do small things like taking the team out for lunch or sending a kind all staff email. Small gestures go a long way.
#5 Formulate a structured interview process
You want to deliver a more objective outcome, that is based on the candidate’s suitability for the role. Ensuring you hire the right fit for the company from the get-go by nailing your interview process. Having a consistent interview structure and questions for all candidates can help to avoid the ‘gut feeling’ trap that a lot of employers fall victim to.
Remember, replacing workers is costly
From advertising the newly vacant position, accounting for the time and costs associated with recruiting, onboarding, and training new hires; and of course, the opportunity cost that comes with the existing staff leaving, all adds up. Of course, if you lose key executives, this cost will be much higher. In fact, replacing a highly specialised role can cost you as much as double the initial salary.
Taking a practical and well-thought-out approach to managing your people can make a considerable difference and reduce employee turnover. Get in touch with our team of recruitment experts, we will gladly assist you with our advice.