2 things to reduce employee turnover

Employee turnover is costly and something that many organizations should look better into. Losing a good employee can cost the workplace between 50% - 250% of the person's annual salary – yes, annual salary! Some say it could cost even more.

Behind those numbers, we are talking about the cost of the recruitment process. The cost of bringing a new employee to full capacity. The effect on customers, possibly some lost connections. The effect on other workers, morale, productivity, etc. Mistakes made by new employees in production, answering customers, delays in delivering goods or services, etc. The effect on the image of the workplace, reputation, and more.

Not to mention the challenges that many workplaces are currently facing in finding talent to hire.

There are two things I recommend organizations prioritize to reduce employee turnover.

1. Improve management

It is for sure not easy to be a manager today. There are a lot of changes to deal with, with people, technology, different ways of working, and increased remote and hybrid work. Increased diversity. Increased demand for environmental issues to be taken care of. And so you could count for a long time.

Also a widening gap between what the owners may consider good results and a good way of running a business and what the workers are looking for. ?

Many managers need reprogramming of their ideas about what constitutes good management or what management methods work best at any given time.

Management training is therefore very important now, whether the entire groups are brought together for workshops or individual managers go for private coaching.

Managers today should be taking time to strengthen some skills and approaches, like, e.g. emotional intelligence, communication skills, management with coaching methods, how to evaluate performance in a new way, organization of mixed work (hybrid work), job redesign, change management, etc.

Management is necessary and it must be done well and with the methods that are most likely to be successful at any given time, in different situations, and with different people.

2. Strengthen a good workplace culture

Trust, transparency and open communication should be keywords when describing the workplace culture of any workplace. Also care, flexibility, success, and quality of life.

We need to be aware of what behavior we allow or tolerate, and what behavior is recognized or rewarded.

Toxic workplace culture is one of the things that drives people away from the workplace the fastest - or about at the same speed as bad management.

The success of workplaces and the individuals who work there should go well together and this should be obvious in the culture, Both parties need to get what they hope for out of their relationship and according to what was discussed during the hiring process or other conversations between managers and individuals.

Linkedin has been conducting measurements and has found that advertisements with words such as flexibility, telecommuting, diversity, well-being, etc. are getting much more attention and circulation than ads that don't contain such words. Of course, it is not good to promise such a thing in a job advertisement if the management and the workplace culture do not support it - but of course, they should be prioritizing such things.

Regarding turnover, it may be that some workers' salaries also need to be increased, but that alone is not promising for lasting success.

?Good luck.

?---

Herdis Pala?is an experienced leader, with 20+ years in management positions, there of 13 years in C-Suite positions. Her responsibilities have mainly been within HR but also in Operations, Marketing, Service, Facilities Management, and more.

She is also a highly appreciated Speaker, Lecturer at Universities, Corporate Trainer, Executive Coach, and Management Consultant.

- Her most requested speaking topics are:

• Future of Work, Workplaces, Workforce, and Labor Market
• Management for the future
• How to future-proof the organization, the managers, and the workforce
• Workplace Culture - importance and how to nudge it
• Well-being, as a helpful tool in challenging labor market and preparing for future successes
• Employee Experience and Employee Journey
• 360° Success, in work and life, based on the principles of Self-Leadership
• How to Be Somebody′s “Best Manager I′ve Ever Had”
• How to Be a Better Manager - and Have a Better Life, At The Same Time.

www.herdispala.is/english