7 Strategies to Address a High Employee Turnover Rate

Human capital, better known as employees, is the key to running any successful business. Employees

create a company culture, echo its morals and values, and keep the business running smoothly.

Therefore, high turnover is a significant problem for business owners. It reflects negatively on the

company's reliability and stability.

It may even discourage new employees from applying to the organization. That's why it's essential to fix

high turnover rate by following some guidelines.

Employee Retention 

So what is a high turnover rate and why is it so detrimental to a business? Employee retention is the

ability of a company to hire and maintain employees.

The key here is loyalty. Employees are loyal to the company because of the benefits they receive.

Long-term employees offer a wealth of knowledge and expertise that often cannot be replaced. New hires

have to be vetted, trained, and closely supervised, which takes extra time and money; money that can be

spent in other areas.

Therefore, employers should strive to form a solid workforce with a healthy and productive work

environment.

1. The Hiring Process 

The hiring process is the first step to employee acquisition and retention. At this point, the company

should have a clear idea of the skill set and education needed to complete the occupation. They must

look for employees that fit the bill and are ready to work.

Selected employees need to be fully invested in the company and willing to grow within the organization.

2. Career Development 

Training doesn't begin and end within the first 90 days. As long as employees work within the company,

they need to keep up with new technology and diversify their skills.

Offer your employees free training lessons by hiring an educator and scheduling company training days or

trips periodically.

3. Develop an Open Door Policy 

One of the main contributing factors to a high turnover rate is a disconnect between leadership and

employees. If employees feel like managers don't listen to them, take their concerns seriously, or respect

them, then they will leave.

Keep the lines of communication open between managers and employees. Develop a system where

employees can voice concerns and complaints without fear of dismissal or retribution.

4. Competitive Salary and Benefits 

A competitive salary and solid benefits package will make or break your company. Employees talk, and

word will get around that your company overworks and underpays employees. Prime talent will not accept

a salary offer if they believe they can receive better from a competitor.

Salaries should generously compensate an employee's skill set and education. A benefits package should

include adequate sick/leave time and proper health insurance.

5. Offer Constructive Feedback 

This goes right along with creating an open door policy. If employees feel like they can be fired at any

time, for any reason, it will create a fear-based job culture where workers are scared and anxious.

Constructive feedback in the form of performance evaluations and anonymous surveys will help

employees and managers identify their strengths and weaknesses. Positive reinforcement will help them

correct it.

6. Prioritize Work/Life Balance 

Even the most dedicated employee will need some leisure time to decompress. Try to implement flexible

schedules for employees and offer work-from-home options. You can also create core hours, such as

1-4pm, when all employees are required to work.

7. Offer Opportunities for Growth 

As an employee ages and acquires new skills, they'll want to take on new tasks and rise up the ranks.

When employees feel like there's no room for growth, they will be tempted to leave.

Employers should recognize hard work and dedication by offering performance incentives such as regular

raises and promotions to qualified employees.

Lower Your Company's Turnover Rate 

At Bear Staff, we offer solutions to help you effectively staff your organization with the best employees.

We work primarily with industries known for high turnover rates, so we know the problems you face.

Contact us today to discuss staffing solutions.