Determining why people leave a company is an essential part of managing turnover. Once the reasons are identified, they should not be ignored. Companies should realize that being competitive and getting employees off to a good start will help them to retain their labor. Circulating surveys about employee satisfaction and encouraging good health can also help to reduce employee turnover rates.
One of the most important means of managing turnover is to determine why it is occurring. When a business has a high turnover rate, it is common to find that many people may be leaving for similar reasons. To help assess the situation, employers can distribute anonymous surveys among the staff posing questions about the length of time that employees expect to remain at the company and factors that may be encouraging them to leave. If internal factors are discovered as the main cause for turnover, priority should be given to developing solutions.
In highly competitive markets, another essential part of managing turnover is to ensure that employees' work conditions are comparable to that of their peers. This includes salary, benefits, and policies. Although salary is often a primary concern, employees may be motivated to leave a company if they are treated better elsewhere. For example, the prestige of an office versus a cubicle can lure employees away. If an employee notes that people in his position who work for other companies have the ability to meet clients outside of the office or to work from home but he is restricted in this regard, he may feel less inclined to stay with his employer.
It can be very beneficial to make sure that employees get off to a good start. Orientation and proper training are two ways to achieve this goal. Companies should stress the importance of open-door policies to all supervisors and managers so that staff will feel that they have the support and human resources that they need to help them get their jobs done. Following up with new hires after they have been employed for a short time to get feedback can provide companies with information that they need to help them pave a smoother path in the future.
Creating an environment with advancement potential can help employees aiming at managing turnover. Some people leave their employers because their jobs become unfulfilling and there is a limited avenue for growth. The longer that an employee is with an employer and the more measurable progress that she makes during that time, the longer she is likely to stay employed there. It therefore benefits companies to prioritize internal promotion practices and to implement educational assistance programs.
Some portion of companies' turnover rates is likely to be health related. This situation can be addressed by following the trend of employers who are beginning to prioritize good health initiatives. This can be done, for example, by helping with the financial costs of efforts to quit smoking or by organizing discounts on gym memberships. Employers should also encourage individuals to have annual physicals, promote health fairs, and abstain from discouraging staff from using leave to attend medical appointments.