Employee turnover is a bad sign for any business. A company with high employee churn rates will have low productivity levels, leading to poor customer service and overall reduced profitability. It is very important to reduce your organization’s turnover to insure its growth.
The following are 5 tips that every entrepreneur should follow to reduce employee turnover within their organizations in the coming year:
1. Hire Slow –
Fire Fast! You can’t hire wonderful people quickly enough if you don’t spend time looking for them in the first place. Hiring slow builds valuable resources when hiring fast can make your team less valuable over time due to inevitable staff changeovers within your enterprise.
Consider creating strategies aimed at attracting qualified candidates by making sure an open position is advertised on all of your organization’s social media pages. The more potential candidates you have, the easier it will be to find the right person.
The goal of any business should be to build a team that is willing and eager to do whatever it takes for your company, but if you’re bringing in new talent too quickly, it can create conflict between existing employees, or may even introduce external social factors into the work environment which make having an effective team nearly impossible.
Banning turnover is important at every level within your company because when staff is busy fighting each other for scraps of attention from their superior, no one has time to devote themselves creating value for customers who are vital sources of revenue through growth.
There’s nothing wrong with firing fast though. You just need to be sure that you’re doing it right. An effective firing strategy should lead to positive reviews on your company’s online reputation, even if the reviews are negative reviews about an employee who has left.
2. Reach Out Into Your Community for New Team Members –
Your business really needs to reach out into the world around you in order to build a more diverse workforce filled with people who bring more perspectives and experiences than your team already does at present. If you’ve got some diversity on your staff but still feel like you could use some help reaching further, building a strong community network will allow you to spread word of mouth advertising for free, as well as make connections with new candidates looking for career opportunities within your organization. Diversity is important because it builds a stronger and more effective team overall.
3. Evaluate Your Hiring Processes –
Many organizations have processes in place that can be improved or optimized to make faster, better hiring decisions. For example, you may need your company website to allow candidates to apply for jobs online instead of taking the time and trouble to look through stacks of resumes sent by courier when you’re especially busy with other projects.”
Having a well-organized digital recruiter will expand the size of your potential talent pool while saving time for hiring managers responsible for evaluating applications in a timely fashion. A lot of people nowadays are turning away from the traditional methods that many companies still use in favor of digital recruiting which is sleeker, faster, and much more effective at finding qualified talent.
4. Hire People with the Right Backgrounds –
You should always be looking for people with backgrounds in sales and customer service, as well as the technical skills necessary to complete their job duties. You can also hire people who possess other useful experience such as problem solving and critical thinking abilities which will help your employees grow and develop over time.
5. Create New Employee Training Programs –
It may sound cliché but you really do need to invest in your employees if you want them to achieve their best performance. This means that even though you might work on a tight budget, creating new training methods which will allow your staff access to the information they need to excel is an important step towards ensuring long-term success.
Conclusion:
If you’re going to fire someone, fire them in a way that won’t leave behind a bad taste for your business in the mouths of prospective customers. If you take the time to develop strong relationships with your clients and potential clients, they’ll respect you when it comes time to let go of an employee who isn’t performing anymore.
Just remember that when it comes down to being honest about firing someone, don’t be afraid to have a doctor look at their work history when making a decision because sometimes people will say things that aren’t always true or positive about how good of a worker they were over the years. Take a moment and think about how this person will spin what happened if there’s going to be some kind of revenge motive behind their words.