How to Reduce Employee Turnover

Hi all. Found an excellent article that I am sure many will relate to. Hope you get something useful out of this...

High employee turnover hurts a company’s bottom line. Experts estimate it costs upwards of twice an employee’s salary to find and train a replacement. And can damage morale among remaining employees. Here are some ways to lower turnover in your workplace:

Hiring the right people from the start.

Most experts agree, that the single best way to reduce employee turnover is to hire the right people from the start. Interview and vet candidates carefully, not just to ensure they have the right skills but also that they fit well with the company culture, managers and co-workers.

Setting the right compensation and benefits is important too.

Work with human resources to get current data on industry pay packages, and get creative when necessary with benefits, flexible work schedules and bonus structures.

Bolster employees’ engagement.

Employees need social interaction and a rewarding work environment. They need respect and recognition from managers, and a challenging position with room to learn and move up.

Looks like really useful info, eh? Just click here to find out more! If you’d like to share perspectives or discuss how it relates to your business, call me on (0407) 743-276 or email me at [email protected].

Thanks,

Greg