5 Ways to Reduce your Staff Turnover
By Space Coast Daily // March 30, 2021
The biggest and most successful companies have all have one thing in common – namely that they put high value and significance on their employees. No matter how successful a company becomes, all firms rely on their workers to work and perform at their best.
If you’re to get the best from your staff, you need to let them know their importance to your firm. Of course, this can be done in multiple ways, but the bottom line is if an employee doesn’t feel valued, they’re unlikely to stay in a job for long.
For the majority of people, work is about far more than just money. While, of course, money is an integral part of – and reason for – working, our jobs also give us social status, a sense of belonging, strong relationships, and a sense of worth.
The multiple sources of employee satisfaction
Research suggests employee satisfaction can be derived from many different sources – after all, we’re all different and tend to look for similarly different things from our jobs.
One thing is for sure – happiness at work reduces staff turnover and has also been shown to make employees much more productive. Some of the most commonly-cited reasons for job satisfaction and ways that you can reduce your staff turnover include:
Recognition at work
Feeling valued and having their work recognized is hugely important for most employees. This recognition can come in many forms, but even a simple thank you will do a lot towards building a sense of importance in employees and helping them realize their efforts have been recognized and appreciated.
Feeling part of a team – a bigger entity
For many people, work is their primary social interaction, and feeling part of a team working towards a common goal can be a great motivator for many.
After all, most of us will spend more time with our workmates than with our family or friends, so these deep connections can become a vital part of life.
Building a sense of teamwork in a company takes time and effort, but there are some shortcuts you can try, such as investing in software for task management to allow more effective communication between team members and the more efficient monitoring of project deadlines and milestones.
A sense of purpose and achievement
Work helps bring motivation to people and also offers a sense of purpose to many. While retirement offers some benefits, one of the most common complaints among the retired is sadly a feeling of diminished worth to society. Achievements at work build confidence and make our lives feel worthwhile.
Opportunities for growth
There’s nothing worse than feeling you’re in a dead-end job with little chance of career progression or promotion. Employees need to feel they have a structured route for development in a firm. Otherwise, many will simply walk.
Chances for education
Linked to the idea of growth, if an employee is offered the opportunity to better themselves through education or training (either in-house or through more formal qualifications), they are far more likely to stay with a firm.