Just a few weeks ago we asked our followers on LinkedIn to share their opinions with us: “In this day and age, do you think it’s still possible for companies and organizations to retain talents for long(er) periods of time?” The majority (70%) said: Yes, of course! We’re glad to see that most of you have a positive outlook on the topic. We agree with you! Let’s help the other 30% to become positive thinkers as well. Below are 3 tips reduce your employee turnover rate.
Tip #1 – Remain vigilant for your workers’ concerns
You can’t have missed it: inflation is steep this year. This development takes a toll on your employees just like it does on every other human being. You can help your employees out by offering a solution to their (not always outspoken) concerns. For example by making their annual salary raise higher than usual. If you take the concerns of your employees seriously, they will be grateful. Keep in mind that there’s an abundance of open positions on the job market right now when making your decisions. In other words: if you don’t help your employees out, someone else will.
Tip #2 – Normalize working in the office (again)
We won’t deny that working from home has it perks. But if we learned one thing from COVID-19, besides the importance of washing our hands, it’s that a team needs to be together in the same space regularly to maintain a strong bond. Make sure that workers come to the office again, even if it’s for a few moments a week. A weak bond with co-workers makes your employees quick to leave when another opportunity arises for them. A strong bond however, makes them more likely to stay.
Tip #3 – Show appreciation for those who stay
The fear of missing out – also known as FOMO – is a real threat to employers. Their employees deal with it when one of their co-workers decides to leave for another company. You know how the saying goes, right? ‘The grass is always greener on the other side.’ That’s why you should show appreciation for those who choose to stay working for you. Spend some extra time with your employees, listen to their concerns and tell them how happy you are with them. By doing so you will raise the chance of workers staying loyal to your company.
What do you think?
Of course these are not the only tips that exist to reduce ones employee turnover rate. But we do hope that our tips have inspired you! Make sure to let us know if you have any other tips that must be shared with the world or if you have a question about the topic. Michael Thurkow
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