Employee Turnover: Signs to Look Out For & Prevention Measures
Employee turnover is a both a timely and costly struggle that HR managers are faced with year-round. With every employee that leaves, HR managers are tasked with promptly finding a good replacement and going through the entire training process once again. It’s impossible to predict when an employee would begin consider leaving. However, there are many prevention measures that can be put in place to reduce employee turnover. Here are some signs to look out for to better handle employee turnover!
Lack of Growth
Arguably one of the biggest reasons for turnover, many employees grow tired of working in the same company. Being stuck with the same tasks makes them feel like they are stagnating. Therefore, when given a new job opportunity, even without a much higher pay, many will be tempted to go for the new position in hopes of being able to expand their career. It is crucial to find employees that would be the best fit for the position– not just the “best” in a certain category of skills. They should be able to excel in their job but also be challenged enough that they feel like their skills are expanding as a professional.
Rather than just eliminating candidates that are underqualified for the job, take consideration of candidates that may be overqualified for the job. Are they looking to slowly be promoted through the ranks within the company? Are they going to become bored of their job quickly? Even though these overqualified employees may be able to excel in their job during their short time here, replacing or promoting them when they grow tired of the current job may be more costly than you originally imagined.
When the lockdown began, many scrambled to move back to their hometown or was stuck in a city they did not plan to stay as long for. Whether it is due to living costs or lifestyle, as the world is slowly shifting back to its original state, many employees will also begin to look into moving to their next destination. In some other cases, many may have only been able to keep working at their current job due to the remote nature of the work.
From the position of an HR personnel, it will be difficult to influence your employee’s moving decisions. One option that could be discussed with these employees is the possibility to have their work become fully remote. Take some time and consider the nature of the position – does it require face to face meetings? Would it involve heavy teamwork? If you see any possibility, don’t be afraid to offer remote options to keep your top performers! More flexibility can pay off in dealing with less turnover.
Although pay and achievements may be important, company culture can have just as big of an effect on employee satisfaction. For many employees, working at the desk is the easiest part. On the other hand, politics and drama within the office is what creates obstacle for smoothly completing a task. As an HR professional, it is important to actively foster a positive work environment that encourages collaboration and communication.
Many leaders think that they do not have enough power to make a change. While change does not happen overnight, it is crucial to start having conversations about how to improve your work culture as soon as you notice something is off. Don’t wait until your best employees hand in their resignation letter for you to start reflecting on what could have been done to keep them.
Little Recognition and Purpose
It’s hard to stay motivated when you feel like your work is always going unnoticed. As time goes on, it may feel like what they’re working on is meaningless, and your employee will become more and more disengaged with their job. Statistics find that employees are twice as likely to be disengaged if they’re ignored by their manager. This is not to say that every time your employee does something right you should be rewarding them with a gold star like in kindergarten, but it is important to find opportunities from time to time to recognize the work that is being done.
Although HR managers work hard to reduce employee turnover as much as possible, it is still an inevitable situation for companies of all sizes. Consider conducting an exit interview before you say good bye to some of your employees. This feedback can help guide you to your company’s next area of improvement as we look towards the future.