Is your company struggling to keep workers? Does it seem as though no sooner do you hire someone than someone else leaves? If so, it may be time to get to the bottom of high employee turnover in your company.
What Is High Turnover?
High turnover is a tricky topic. Turnover rates vary from 1.3% to 1.4% for government positions to 100% to 150% for fast-food workers. And, not all turnover is preventable. For example, you can’t control retirements, illness, or relocations. In addition, at lower rates, turnover can be healthy. After all, you may be preparing veteran employees to take on new challenges and then exchanging them for enthusiastic new recruits.
Nevertheless, continually replacing your workforce will be both expensive and time-consuming. So, ask yourself, “How disruptive has turnover become?” If it’s interfering with the day-to-day operations of your business, most likely, you have a problem.
What Are the Top Causes of Employee Turnover?
- Poor Hiring Practices
Thoughtless and impulsive hiring usually leads to a revolving door of employees. Either new hires will be unhappy and decide to leave, or you will be unhappy with new hires and need to ask them to leave.
- Unpleasant Working Conditions
No one wants to dread going to work. A toxic culture, long hours, or even a poorly maintained facility can all send employees running for the door.
- Unfair Pay
People want to make as much money as possible. Of course, other factors such as commute, company loyalty, and perks may come into play. However, people who receive far less than they’re worth will eventually look elsewhere.
- Bad Bosses
A bad manager can make an employee’s life miserable. Possible leadership issues include poor communication, micromanaging, failure to give feedback, and personality conflicts.
- Lack of Professional Development
Most people don’t want to be stuck doing the same job for years on end. Whereas opportunities for skill development, growth, and advancement increase loyalty and engagement.
3 Tips for Solving High Turnover
Identify Potential Causes
First, consider why employees are leaving sooner than you would like. For example, if people are departing within a month or two, this could be a sign you need to reexamine your hiring process. On the other hand, if you are having retention issues in a specific department, management may be to blame.
Conduct Exit Interviews
Sometimes the reasons for turnover may surprise you. Therefore, it’s essential to gather information from departing workers. Done correctly, exit interviews can offer valuable insights.
Test Out Solutions
Once you’re identified issues, look for ways to address problems. For instance, let’s say your exiting employees complain about the pay. Although you can’t match the lucrative compensation package provided by your wealthier competitor down the road, you may be able to counter with other desirable benefits such as flex time or unlimited vacation.
Is Your Company Looking to Reduce Turnover by Hiring the Right People the First Time?
Halpin Staffing Services can help you find the reliable employees you need. We work with companies. Learn more about our staffing solutions today!