Employee turnover

Today, several changes in employment culture and corporate environment are working together in increasing employee turnover.

Figures prove that usually it’s the talented employees that are difficult to retain

A tightening labour market, retirement of the baby boom generation and a shift from life-time employment to changing jobs every few years are causing companies to face high turnover rates.

Turnover proves very costly for companies

Not only do you lose knowledge if an appreciated worker decides to leave, you need to recruit new personnel and you have to train them as well. In addition, you need to keep your other staff motivated during the times they are forced to compensate for the gaps created by turnover. In short, it costs you time and money, sometimes over 2 years pay for that one employee.

Naturally, not all employees leaving amount to a loss for your company. There are some employees whose change in career or retirement is just as welcome a change to your company. And yet, figures prove that usually it’s the talented employees that are difficult to retain.

With a new culture in sight where employees want to experience a good work-life balance and to keep feeling challenged by what they do, the chances are that motivation and satisfaction with an employer decrease with the number of working years.

How can you prevent turnover from happening where it hurts most, amongst your committed and engaged employees?:

Here’s our proven top 3 in retention management:

• Offer sufficient opportunities for development and challenges in work.
  Employees who are allowed to grow professionally and personally will be more loyal
• Communicate your expectations of employees and show appreciation for the work they do.
  Give feedback that the employee can work with. If an employee’s role is clear, employee satisfaction and employee motivation will increase visibly
• Embody good employership.
  Quality of leadership, good work atmosphere, open communication and even environmental awareness, amongst others, are great examples of what employees are looking for in an employer. Employee oriented organisations are proven to have less turnover. Moreover, by proving yourself an organisation employees can be proud of, you increase your attractiveness to others.