Eliminating Employee Turnover

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“If vitality gives a man’s perspectives color, if community bonds give them breadth, if awareness of the land makes them realistic, a deep sense of loyalty gives them personal meaning and integrity.”

– Harry Huntt Ransom, Forbes contributor, Thoughts on Loyalty

Recently, we’ve touched on the importance of tenure and employee satisfaction, and outlined some of the reasons team members might not recommend working for your company.

All these factors bleed into an issue vital to your company’s growth: employee turnover. Truly, turnover erodes the foundations of even the most stable businesses. However, small adjustments can combat this dilemma and enable workplace success.

REDUCING TURNOVER BY BOOSTING MORALE – THE DO’S AND DON’TS

CREATE A POSITIVE WORK ENVIRONMENT

This might seem simple, but it’s often overlooked. According to a 2010 study, lower work satisfaction among employees predicted decreased bottom-line performance. The environment you promote matters! Foster a positive and collaborative atmosphere and your team will reciprocate with better work.

MAKE EMPLOYEES’ TIME COUNT

According to a study by Ben Webar, a research scientist and the CEO of the management firm Socioeconomic Solutions, “The more e-mail you engage in, the less effective you are. People think being on the computer is the same as being face to face. That’s a fallacy.” Webar’s work—research that began at the MIT Media Lab—concluded that small workplace adjustments were often more effective in boosting morale than large company rearrangements.

So, avoid unnecessary emails, phone calls, and other time wasters. Although it’s great to have open and effective communication, these tasks can quickly devolve into an unspoken competition to prove who is working the hardest. Follow through with meeting times and focus on the quality of interaction, not the quantity.

ENCOURAGE WORK-LIFE BALANCE

Allowing employees work-life balance will make them more productive during business hours. Set meaningful boundaries to protect their time and energy! Give team members the room and positive reinforcement they require to excel.

Inquire about individuals’ short-term and long-term career goals. Try to provide benefits and resources when you can. For example, Starbucks made headlines when the company announced their plans for offering employees the chance to earn online degrees. It’s important your staff see your company as a place where they can hone their skills and grow. Your compassion breeds loyalty! And loyalty reduces turnover, allowing both parties to flourish. Everyone wins! Which leads us to our next tip…

Source: Blog – Hppy

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