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Retain Employees

How to Stop Employee Turnover


Employee turnover is costly and disruptive. Employers, however, can minimize attrition by (a) hiring individuals who are the best fit for their companies and positions, (b) offering competitive wages and benefits, and (c) demonstrating to employees that they are valued.

 

Listed below are four ways to show employees that they are important and respected.

 

  1. Ensure that employees know what they should be accomplishing. To succeed, employees must have a clear understanding of their duties and goals. They need to know what they will be doing on a daily basis, what they are expected to accomplish, and how what they do helps the company achieve its mission. Without this basic information, employees may become anxious, lack confidence, perform poorly, act out in negative ways, or lose trust in their managers and employers.


  1. Facilitate professional development. Employees must also have the resources and support needed to effectively perform their duties. Without it, they most certainly will become dissatisfied, angry, or demoralized. Furthermore, helping employees strengthen existing skills and obtain new ones motivates them to stay engaged in their work.


Ways to invest in employees' professional development include providing training and mentoring; sponsoring attendance at conferences, workshops, or seminars; and offering tuition reimbursement.


  1. Promote employees. Adopting a promote-from-within policy can provide great incentive for employees to achieve high performance and stay motivated. It also lets them know that their employer cares about their career advancement is are willing to compensate them for their growth.


  1. Create an open environment. Employees who know they can discuss their ideas, concerns, and needs without fear of negative consequences are more likely to feel safe and valued. Therefore, encouraging them to make suggestions and ask questions is a good way to build trust and loyalty.


Employers cannot completely prevent employee turnover. However, investing in employees and showing them how important they are to the company will help reduce attrition and improve productivity.

 

Reference

 

The Wall Street Journal, "Employee Retention – How to Retain Employees," http://guides.wsj.com/small-business/hiring-and-managing-employees/how-to-retain-employees/



© 2014 Katherine Williams. All rights reserved.

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