Say No to Attrition and Yes to Retention

10 Ways To Reduce Attrition With The Millennials

The millennials are not the ones who would ever compromise on anything, especially their career. That is why the employee bounce rate is rapidly increasing. While many MNCs celebrate their perfected employee retention programs and policies, many are still struggling to find a way to keep their employees in the company for at least more than a year itself.

Employee job-hopping has many reasons which can range from the professional environment & salary increments to personal reasons. Unless it is a personal reason, it is the duty of the organization to make sure that professional reasons are well prevented. Here are 8 ways to reduce employee turnover in the millennial workforce:

1. Hire The Right People

It is true that you may never know who the right person is till you hire them. But, it can be analyzed to the best extent if you look for relevance, take the right tests and perform critical background checks of the employees before hiring itself. Spending more time in hiring based on quality will ensure that the person you hire is the right one, resulting in less employee attrition.

2. Distribute Responsibility Responsibly

One of the main reasons why employees leave a company is when the organization makes the person shift tasks from the field they are in to a field they are not interested in. At times, there may be a lack of work for the designated person during which it may seem right to utilize the resource on something else. But, it should always stay temporary or else, the employee’s tenure in the organization may become temporary.

3. Avoid Hierarchical Communication

Any organization that limits an employee’s communication based on hierarchy will certainly lose valuable resources in lesser time. This lack of communication transparency results in higher stress which results in most of the professional environment accidents. It is said that around 80% of doctor visits happen due to stress at work either from high pressure or lack of communication.

4. Personalize Feedbacks

Many people believe in the saying “Success comes in silence and failure shouts aloud”. This does not work in the professional environment. If any, it should always be the opposite of it. Feedbacks should always be given on a one-to-one or personal basis when they are negative. Every employee appreciates and responds better when the feedback is given privately.

5. Appreciate Openly

While many say that praising an employee in public may lead to overconfidence or even saturation of growth, it is not true if the employee is the right one. When you praise openly, employees get motivated the most. They take more responsibility of the tasks ahead and also become more open to feedback.

6. Ensure Regular Perks

Right from a coffee machine to a comfortable workstation, everything in your office premises impacts how the employee sees his/her future in the workplace. Not only do these perks play an important role in giving a better working environment, they also make the employees feel proud about its workplace.

7. Praises & Appraisals

While you may praise your employee for the good work they did, if you are not converting them into good numbered appraisals, the employee will likely leave soon. Giving your employees the right appraisal at right time will not only ensure better retention, but will also secure respect in them regarding the organization.

8. Ensure Work-Life Balance

Whether it is a regular, 9-5 job or an extensive field job, make sure that you give your employees a good work-life balance. People who do not get proper work-life balance due to their jobs end up in bad shape in their relationships both personally and socially. This affects their performance at work, which directly impacts the organization’s productivity too.

9. Conduct Training For Anyone Willing

There are employees who come to work just for the sake of completing the working hours and going home. But, there are also the ones who are curious about exploring opportunities. By providing training to the ones who are willing to grow, you not only improve their professional career, but also improve your business resource base. This particular step has brought down employee attrition in major companies globally over the years.

10. Cultivate Team Spirit

Even though this may not show direct results in terms of numbers, it will surely enable a much better workplace environment which is one of the most effective ways to improve employee retention. Creating seminars, interactive sessions and offsite activities are some of the most effective ways to cultivate team spirit in your organization. Do this without hesitation, and your employees will stay with you for long-term without any second thought too.