5 Steps to Take During High Employee Turnover
At the core of every successful business is happy, engaged, and motivated employees who work hard to live out the company’s mission. But every business experiences turnover and it can be very costly. Here are 5 steps to take when your company is experiencing high turnover:
1. Analyze Turnover - Figure out why people are leaving. Make sure you do an exit survey or interview. Why are people leaving? What departments are they leaving? Which leaders are they leaving? Talk to the employees still around. Find a neutral ear, such as the HR team, to conduct interviews, focus groups, and surveys. Demonstrate your willingness to listen to what is actually going on and start making changes.
2. Hire the Right People - The employee life cycle starts in the hiring process. Take a good look at your team and ask what traits you are hiring for. Are you hiring just for skills and experience? Are new hires aware of what the job entails? Are expectations set at the beginning? Are you looking for the right culture fit? Be up front with candidates on the day-to-day responsibilities of the job. Make sure everyone in the hiring process is on the same page and looking for the same qualities.
3. Be Transparent - This isn’t just for employee retention purposes, but for a healthy organization in general. As a leader, it is important to let your team know you recognize problems, your vision moving forward, and your commitment to work on them. Transparency will strengthen the bond with your team and allow them to trust you better.
4. Communicate Purpose - High turnover is an indicator that your employees don’t feel connected to the company. Leaders should immediately start showing employees how they contribute to the organization and why their work matters. Through emails, meetings, and conversations, make sure the individual feels important. Highlight their strengths, reward them, and actually listen to them.
5. Growth - Talk with your employees about their career goals. How can you better prepare them for their next step even if it isn’t at your company or in your department? Wants and needs change over time, so stay on top of talking to your employees. Employees want to grow and if they feel stuck, they will take matters into their own hands and leave.