Tips for Reducing Employee Turnover
Hire the Right Demographic: Is your small business properly recruiting the right age group? Match your company profile with your target hiring group. If you can't offer career advancement to your workforce, then avoid hiring young career oriented staff. Consider hiring older employees who are less concerned with advancement.
Understand Employee Motivation: Retaining staff requires learning what's important to your employees. Look to the external motivators like recognition and rewards. Remember the internal motivators of purpose and passion.
Read Between the Lines: The real cause of employee turnover usually won't be found in your typical exit interview. Departing employees will provide the usual response of leaving for more pay or a better job. Inquire for deeper meaning. Was it a lack of support? Was the commission structure unreasonable? Take the time to get to the bottom of the turnover.
These 3 tips to reduce turnover are a good start to understanding your employee loss issue. Be critical and always look inward. You may be the source of the turnover. Make certain your management style is the way you would want to be managed. High turnover can be a signal your business is in trouble. Low turnover can also be a negative