7 Tips to Reduce Employee Turnover!

Are you a leader or manager losing top talent and struggling to fill the gaps left behind?  If you are tired of spending thousands to recruit and train new talent, then today’s newsletter is for you.

It's no secret that employees have more options than ever in today's job market. This means that employers need to work harder to retain their top talent. If you're scratching your head wondering why your employees keep quitting, you're not alone. 

In today’s newsletter, I'll share seven reasons workers leave their jobs and what you can do about it.

Lack of growth opportunities: employees want to know that they have a clear path for advancement and development within the company. Leaders can combat this by offering career development programs, cross-training opportunities, and clear promotion paths. Ask folks about their career aspirations and help them get there. Yes, and sometimes they have to leave the company. Think about your high-performers who have been in their roles for years.

Poor management: bad management can make or break a workplace. If employees feel unsupported or undervalued, they will seek employment elsewhere. Leaders can address this by training managers and holding them accountable for their team's performance and engagement. Review the comments on exit interviews. If workers aren’t completing them or the data is poor, it’s time to take action. 

Low pay and benefits: It's no secret that employees want to be paid fairly for their work. If they feel undervalued or underpaid, they will seek higher-paying opportunities. Leaders can combat this by conducting regular salary reviews, offering competitive benefits packages, and providing opportunities for bonuses and raise. Money isn’t everything, but it matters a lot.

Toxic workplace culture: this is a breeding ground for employee turnover. Employees want to work in a supportive and collaborative environment, not toxic and negative. Leaders can address this by promoting a positive workplace culture and addressing toxic behaviors like bullying. Develop a clear code of conduct that outlines acceptable behaviors in the workplace.

Lack of work-life balance: If they feel overworked and burnt out, they seek opportunities that offer more flexibility and balance. Leaders can address this by offering flexible work arrangements, such as remote work or flexible hours, and encouraging employees to take time off when needed. When your team is off, allow them to unplug. This means no “hopping on a quick call” while on vacation. Get rid of the mentality that workers must always work to prove their value.

Lack of appreciation: Employees want to feel valued and appreciated for their contributions. If their hard work goes unnoticed, they will seek opportunities elsewhere. Leaders can address this by implementing recognition programs, such as employee of the month or peer-to-peer recognition, and regularly showing appreciation for their team's efforts. Start by saying thanks because it makes a difference.

Unreasonable workload: workers want to feel challenged but not overwhelmed by their workload. Leaders can address this by setting realistic expectations, delegating tasks effectively, and ensuring employees have the necessary support to succeed. Start by asking your team, “is this too much”? Also, create a mechanism where workers can provide honest feedback. 

You can’t afford to ignore this situation. According to a study by the Society for Human Resource Management, the cost of replacing an employee can range from 50% to 200% of that employee's annual salary. That gets expensive, so investing in your employees is an investment in your company's future.

Always wishing you the best,

Dr. Beckford

PS. Help your team reduce burnout and boost productivity! Click here to book me now for a stress reduction workshop or your next company retreat.