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You have a team with high turnover. How can you keep your best employees?

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High turnover is a costly and frustrating problem for any manager, especially in the competitive field of management consulting. Losing your best employees can affect your team's performance, morale, and reputation. How can you retain your top talent and create a loyal and engaged workforce? Here are some strategies that can help you keep your best employees.

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Mustafizur Rahman Rajib

Chief Operating Officer (COO) ll Operational Excellence I Strategic Planning I Business Growth I Marketing & Supply…
Adriano Lima

Coach Executivo | Palestrante | Startup Advisor | Colunista Revista Exame | Board Member | TOP OF MIND RH 22, 23 e 24
Roel Timmermans

Senior Marketing Manager | B2C & B2B | Marketing | E-Commerce | Branding | 15+ Years Driving Triple-Digit Growth and…

1 Offer fair and competitive compensation

One of the main reasons why employees leave their jobs is because they feel underpaid or undervalued. As a manager, you need to ensure that your team members are rewarded for their skills, experience, and contributions. Conduct regular market research and benchmarking to determine the appropriate salary range and benefits package for your role and industry. Communicate clearly and transparently with your employees about their compensation and how it is determined. Recognize and reward their achievements and performance with bonuses, incentives, or other forms of recognition.

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Roel Timmermans

Senior Marketing Manager | B2C & B2B | Marketing | E-Commerce | Branding | 15+ Years Driving Triple-Digit Growth and Multi-Million € Lead Generation Across Fintech, FMCG, and Fashion
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And don't do the research once and then just add the same percentage yearly. If the pay increase doesn't minimally meet inflation you're telling your people you're giving them a pay cut essentially. So don't be surprised when that gets people to lose their motivation.

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2 Provide growth and development opportunities

Another key factor that influences employee retention is the opportunity to learn, grow, and advance in their careers. As a manager, you need to support your team members in their professional development and help them achieve their goals. Provide them with challenging and meaningful projects that align with their interests and strengths. Encourage them to take on new responsibilities and roles that stretch their capabilities. Offer them coaching, mentoring, feedback, and training to help them improve their skills and knowledge. Create a clear and realistic career path for them and help them navigate the steps and requirements.

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Adriano Lima

Coach Executivo | Palestrante | Startup Advisor | Colunista Revista Exame | Board Member | TOP OF MIND RH 22, 23 e 24
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N?o é mais sobre ser the best place to work. é ser the best place to grow. Toda pesquisa sobre engajamento mostra que crescer na carreira é o principal fator.

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3 Foster a positive and supportive culture

A third essential element of employee retention is the culture and environment of your team and organization. As a manager, you need to create a positive and supportive culture that fosters trust, collaboration, and respect. Promote open and honest communication and feedback among your team members and with other stakeholders. Encourage them to share their ideas, opinions, and concerns and listen to them attentively. Celebrate their successes and achievements and acknowledge their efforts and contributions. Provide them with the resources, tools, and support they need to do their work effectively and efficiently. Address any issues or conflicts promptly and constructively.

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Adriano Lima

Coach Executivo | Palestrante | Startup Advisor | Colunista Revista Exame | Board Member | TOP OF MIND RH 22, 23 e 24
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A cultura é para mim o ativo mais importante de uma companhia. Ter uma cultura forte é característica das empresas que duram. E prosperam. N?o é tarefa só do ceo e da área de RH. Cada líder tem de ser um promotor da cultura. E um forte exemplo dela.

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Zeila Valaski

Gerente de Treinamento na ?nima Educa??o
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A cultura é um fator crucial para a permanência dos colaboradores. N?o é raro ver pessoas deixando para trás bons salários e benefícios porque o ambiente é tóxico, n?o há respeito e acolhimento, a carga de trabalho/press?o é muito alta. Promover uma cultura saudável, de respeito, equilíbrio, crescimento e transparência é fundamental para o engajamento dos colaboradores.

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4 Balance workload and flexibility

A fourth important aspect of employee retention is the balance between workload and flexibility. As a manager, you need to ensure that your team members have a reasonable and manageable workload that matches their capacity and expectations. Avoid overloading them with unrealistic deadlines, excessive hours, or conflicting priorities. Respect their work-life balance and personal needs and preferences. Offer them flexibility and autonomy in how, when, and where they work. Allow them to adjust their schedule, location, or mode of work according to their circumstances and preferences. Trust them to deliver quality work and results without micromanaging them.

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5 Solicit and act on feedback

A fifth crucial component of employee retention is the feedback and input of your team members. As a manager, you need to solicit and act on feedback from your employees regularly and systematically. Ask them how they feel about their work, their compensation, their development, their culture, and their balance. Listen to their feedback and suggestions and show them that you value and appreciate their input. Implement changes or improvements based on their feedback or explain why you cannot. Follow up with them and measure the impact of your actions. Show them that you care about their satisfaction and engagement and that you are willing to improve and adapt.

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Adriano Lima

Coach Executivo | Palestrante | Startup Advisor | Colunista Revista Exame | Board Member | TOP OF MIND RH 22, 23 e 24
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Eu sempre estabeleci com meu time uma forma de eu receber feedback deles. Quanto mais alto você está, mais pra baixo tem de olhar. Agora, mais importante, agir com base nos feedbacks.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Mustafizur Rahman Rajib

Chief Operating Officer (COO) ll Operational Excellence I Strategic Planning I Business Growth I Marketing & Supply Chain l IE l Budget & Cost Control I Process Excellence I CSR l PPM I Lean Six Sigma l $ 100M turnover
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To retain my best employees despite high turnover, I focus on creating a positive work environment, offering competitive compensation and benefits, providing opportunities for growth and development, recognizing and rewarding their contributions, fostering open communication and feedback, and ensuring work-life balance. Additionally, I address any underlying issues contributing to turnover, such as ineffective management or lack of advancement opportunities.

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Pranav Bhardwaj

Executive Advisor | Deloitte Global Strategy Lead | Transformation | AI | Board Director | I connect the dots.
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Even with all strategies in place, high turnover can persist. It's vital to show key team members their value to you, the team, and the firm. Drawing on years of experience, I remember the adage from a partner I used to work with: "In a team of 11, focus on the core 3-4 players." If your team develops valuable skills, be prepared for members to advance elsewhere. Take pride in this and see them as future clients or colleagues. These are the cards you've been dealt, and you need to find better ways of winning - and winning in the long run. The key is humility, understanding that this challenge is not unique, but how you might solve it could be unique.

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Adriano Lima

Coach Executivo | Palestrante | Startup Advisor | Colunista Revista Exame | Board Member | TOP OF MIND RH 22, 23 e 24
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Tem de ter uma política de meritocracia muito clara e bem aplicada. De forma que os que s?o diferenciados realmente se destacam e recebam oportunidades e reconhecimento. Quando igualamos na gest?o os de algo é baixo desempenho, os que tem alto desempenho saem !!

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David Roda Sánchez

Consultor de Negocios Digitales | Especialista en Marketplaces y Paid Media | Profesor de Competencias Digitales
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Es esencial ofrecer a los empleados nuevos desafíos y oportunidades de evolución constante mediante una formación activa. Además, es importante contratar personas que se sientan atraídas por el proyecto en sí, más allá del aspecto económico. Quien se une al equipo motivado principalmente por el dinero, también puede dejarlo por la misma razón.

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You have a team with high turnover. How can you keep your best employees?

1

2

3

4

5

6

1 Offer fair and competitive compensation

2 Provide growth and development opportunities

3 Foster a positive and supportive culture

4 Balance workload and flexibility

5 Solicit and act on feedback

6 Here’s what else to consider

Management Consulting

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You have a team with high turnover. How can you keep your best employees?

1

2

3

4

5

6

1 Offer fair and competitive compensation

2 Provide growth and development opportunities

3 Foster a positive and supportive culture

4 Balance workload and flexibility

5 Solicit and act on feedback

6 Here’s what else to consider

Management Consulting

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