How can I reduce staff turnover?

Question

I need to write a report on how to reduce staff turnover but am stuck. help!

Answer 1

I would think about the things that you yourself would desire iin an employer, what types of things would motivate you to stay at a job. I worked as a nursing assistant and front desk person throughout HS and college. These are both high turnover jobs and I think using those two models a few things that can reduce turnover come to mind.
1. Treatment of employees- this is the biggest one. Everyone wants to be treated well and an environment that fosters this is one that anyone would want to work in. THis means a fair vacation/off-day schedule (don't be inflexibile just bc of the difficultly of the logistics of reworking the schedule) and just general interaction between employees and management. I think middle management is the key to employee retention, no one wants to work for a jerk
2. Compensation- At least on par with what the average rate is. Although not always possible, good performance should be rewarded. I look at the fast food restuarants and think about how well they would do if they had some type of incentive plan for duration on the job, consistently good reviews, etc.
3. Making employees feel like the company success is their own- This is a tough one bc often the only thing that can make people feel like this is financial compensation. THis is where share plans come into the picture explaining the early successes of Home Depot- type business models...\
Just some thoughts

Answer 2

Don't be fooled into thinking that pay is everything. I worked at a similar company 10 years ago (with a staff turnover problem). I got a 25% raise and still quite within the year. Personal engagement, satisfaction, etc are more important. Ask people as they are leaving what the reasons are. Typically they can be objective as they are already out the door. Then ask your current employees.

Consider using an independant so that people will be more honest.

Answer 3

Doing some research at www.shrm.org may help you. Turnover is not necessarily a negative thing. You may be able to use turnover to rid yourself of under performing people. Turnover can also be used to change a companies culture. You have to find what unique situations in a given company are causing turnover and what the desirable rate would be. Surveying employees may be necessary, but it is risky because it will create expectation of change on their part. You will have to examine the pay structure of your competitors and the role that may play in turnover. Don't assume however that employees leave just because of money issues, or they have some other problem you can't correct. If management seriously wants to reduce turnover it has to begin by looking at itself and its operations.

Answer 4

A good place to start is to look at why staff leave, which staff leave and how much it costs your company to replace the different types of staff. Its much more costly to replace certain business critical skilled individuals, so efforts to reduce turnover might focus on specific groups in different ways - from a purely economic approach to save the company the most money.

Does your organisation carry out exit interviews? These can be a really useful way of having a good discussion with staff who are about to leave, and gaining a picture of problems, issues, challenges which your staff turnover reduction strategy can then address.

For a more general look at reducing turnover check out this recent factsheet at the CIPD website which identifies a whole raft of measures you can adopt:

http://www.cipd.co.uk/subjects/hrpract/turnover/empturnretent.htm?IsSrchRes=1

Good luck with your report!

Answer 5

There are methods out there to reduce staff turnover. Basically in those studies, you have to increase morale by doing surveys/interviews within the company in regards to salary, benefits, internal politics, job security, etc. Based on responses, you attend to/make better the weak spots of the compenents of morale.

There are companies that measure this and determine the best companies to work for. Using an article from a magazine that does that may help you find the criteria that people are retained in companies for longer....NOTE: This doesn't mean that people at the best companies to work for pay the best....mostly it can be the opposite - but it's other things like perks, flexible work hours/place and job security that make it a better place to work.

My company does this bi-yearly.

Answer 6

I have been working in software design for 20 years. I currently work for a supplier of enterprise software.

In my annual review this week, we went through reasons why I'm not "engaged" with the company (i.e. why I might be at risk of leaving).

1. Money is not an issue.
2. Failure of company employees to response promptly to my emails was the worst issue - feels like no-one is listening.
3. No way of providing feedback - I can't do anything to change/improve the way the company works.
4. No recognition, if I go "above & beyond" the requirements for my role. Recognition is normalised - so I only get recognition if I go "above & beyond" the activities of my peers.
5. As one of the senior members on a software development team, I should be consulted more (that is - if we are to deliver the best product).
6. Company lacks the TQM continues improvement philosophy.
7. I can't get the training that I need, because it doesn't fit the company model for a person at my level, in my role - even though it's the precise trainig I need, to be in position to help the company leverage the huge volume of work coming up in this field.

Answer 7

Decent pay or above the average for local area will want people working their, reduce idiot managers scoring brownie points over other staff, Be polite and firm with staff, respect works both ways. A bit of give and take. Bad leaders can destroy company moral when talking/treating staff like S**t. The amount of times i heard "If you don't like it F**K off", i did and now earn around 80% more for another firm (i'm happy and happy to graft)

Answer 8

Pay your staff a fair wage.
Treat your staff fairly.
Create a happy, comfortable working environment.

In general, people only leave jobs because they aren't satisfied with it.

If you find out why your staff aren't satisfied, you will have answered your own question.

Try leaving the boardroom for a day, and put yourself in your staff's shoes. See if that gives you any ideas.

Answer 9

Meaningful assignments, fairness in compensation, promotions, appreciations, and good working environment are all things that reduce staff turnover.

Answer 10

It's not all about the money, perks and benefits. Employees need to know they are valued. That doesn't necessarily mean rewards. If they see their ideas put into action, or their concerns addressed, they will feel their own value. If those same factors, in turn, show the company as a whole to improve: Morale goes up, company advances, and perks, money and benefits follow. Job satisfaction skyrockets.