Your employees play a significant role in your business’s success – so when you’ve hired a motivated, productive team, you’ll want them to continue working for you in the long term. But things don’t always work out the way you want them to, and you may find that your employee turnover rate is increasing.
If turnover rates are becoming an issue for your business, this guide is here to help. Here are five possible reasons your employee turnover rate might be growing, and what you can do to prevent it.
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When you hire a new employee, they might have certain ideas about your workplace or expectations surrounding their new job that won’t necessarily match the reality. Take the opportunity to find out as much as you can about potential employees during the interview process, and encourage them to ask questions.
This will help you to ascertain whether they’re a good fit for you, but also give them the chance to work out whether your company is the right workplace for them. Hiring the right person means they’re more likely to continue working for you over a longer timeframe. This also helps with workplace productivity, as it allows you to avoid the disruption that accompanies high rates of turnover.
A sense of continuity helps people to stay focused and means your existing team won’t have to take time out of their schedules to help someone new get used to the workplace.
Does your company offer opportunities for career progression? Being stuck with the same roles and responsibilities for too long could lead employees to look elsewhere.
Consider your employees’ current job roles and whether they could be doing more.
If your employees don’t feel like the work they do is appreciated, they may become demotivated. This can lead not only to a decrease in productivity but to employees looking for jobs elsewhere. If this is happening in your workplace, it’s time to consider getting employee benefits insurance.
This covers you to provide employees with things like group life insurance and income protection, which helps employees to feel that you value them as individuals.
When employees start to feel like they’re not being stretched, there’s a risk that they’ll begin to get bored and consequently leave in search of something more exciting. Boredom can set in when a job starts to become repetitive.
While an employee will inevitably have to complete some tasks on a regular basis, you could help to alleviate boredom by making small changes to the structure of the day, or by asking employees what they think would make it more stimulating and engaging.
Work-life balance is important when it comes to keeping employees motivated. While focusing more on work might sound like a good way to increase productivity, it can lead to employees feeling burnt out.
This makes it hard for them to engage with their jobs. Make sure your employees have enough time away from the workplace to relax and recharge so that they start their workday feeling refreshed and ready to focus on their job.