May 25, 2022

6 ways to reduce turnover in your business

Although “turnover” (staff turnover rate in French) is quite normal in a company, it must remain measured so as not to become problematic.

Business turnover: what is it?

Turnover is an indicator expressed as a percentage describing the rate of staff turnover within a company. It corresponds to the average between entries and departures of the number of employees in an organization. Expressed as a rate, it is calculated as follows:

Turnover = [(Nombre de départs en N + Nombre d’arrivées en N)/2]/ Workforce on January 1 of year N

If the phenomenon is more and more frequent in the professional environment, too high a turnover can be indicative of problems. In addition, too high a staff turnover implies a certain number of additional costs (severance pay, recruitment, training, internship, integration …), and can have consequences on the financial results of the company, but also on morale. of collaborators.

The causes of employee turnover

The causes of high turnover can be multiple: lack of recognition, insufficient remuneration, bad atmosphere, disagreement with management or with other employees, lack of prospects for development, social benefits and accountability, poor social climate in the workplace. within the organization, insufficient communication, too much stress …

Based on this observation, management teams as well as human resources (HR) must remain attentive and carry out regular meetings with employees in order to ensure their overall well-being.

6 ways to limit turnover within a company

Several initiatives also make it possible to reduce the staff turnover rate within a company.

Respect the balance between professional and private life

First of all, it is important to respect the work-life balance of your employees. Offering them an arrangement of working time, flexible hours or a few days of teleworking per week can prove to be interesting.

Offer real prospects for development

Another way to limit turnover is to offer development prospects to your employees. Take an interest in their career goals. Some may want a particular position, others seek to gain skills, in which case training paths can be adapted.

Be fair in terms of compensation

While salary is not the only criterion for employee loyalty, it does play a role. As a manager, it is important to ensure that employees are remunerated at their fair value and fairly. You can also play on their motivation by offering them bonuses or benefits in kind (restaurant tickets, company car, professional technological tools, etc.).

Communicate regularly and focus on transparency

Besides that, you have to capitalize on internal communication and the transparency of your actions. Do not hesitate to communicate each month on the financial results, events, internal opportunities and offer a free and open space to speak to each employee, so that everyone can express themselves and feel valued.

Empower and empower employees

Lack of consideration is a factor pushing employees out. To retain them, it is imperative to recognize them by highlighting their successes and encouraging them. In addition, you can empower them, for example by offering them to participate in the recruitment process or by entrusting them with a large-scale project.

Focus on quality of life at work (QWL)

Finally, a loyal employee is a happy employee at work. A bad atmosphere can encourage the best talent to leave a company, hence the importance of not neglecting this point. Invest for example in a beautiful space of break, in a table football, a table-tennis table or in comfortable sofas. You can even hire a Happiness Manager, whose very mission is to ensure the well-being and satisfaction of employees in partnership with HR.

(Photo credit: istock)

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