Employees leave jobs mostly depend on the total work environment you offer for employees. Maybe they are not satisfied and are basically unhappy during their work. A good employer should be observant and knows when the staff is unhappy and immediately attacks the problem. Here are some tips on how you can reduce turnover rate and motivate employees.
1. Pay attention to internal pay equity.
In today’s economy situation, salary can be a determining factor as to whether an employee decides to stay or leave your company. Employees are particularly concerned with pay compression – the difference in pay between new and longer term employees. So you should make sure that you offer a fair and competitive salary. Don't ever pay your employees a lower salary than what is appropriate for the type of work that they perform.
2. Provide flexible work schedules adapted to the needs of the individual.
In today’s workplace, a one-size-fits-all approach has long since lost its effectiveness. Workers will migrate to a company whose benefit packages and schedules help them meet the demands of their lives, whether they are single parents, adults who care for aging parents, older workers, younger workers, part-time workers, or telecommuters.
3. Good wage and other Benefits:
You should remember that part of the value in the workplace is valuing what employees contribute. A good wage will become a essential factor for workers to continue staying your company. The benefit in a company is also very important, such as: paid time off for holidays or sick time, telecommuting, preventative healthcare or wellness programs, tuition reimbursement, training incentives, mentoring, retirement savings matching.
4. Have enough staffing.
If the company departments are chronically understaffed, employees will feel overwhelmed, overworked and burned out. So keep enough employees working for you by ensuring they have adequate support as your business rebounds. Use temporary employees to handle increased workloads and alleviate burnout without adding to your permanent headcount.
5. Show appreciation.
Many employees can be almost always told when they are doing something wrong. But they are very rarely ever hear from their employers when they are doing their job right and nice. You should always encourage your employees by saying kind words to them, and telling how much of a good job they are doing. If you do that, they will be more likely to accept any words of advice on how to improve their work later on.
6. Provide career development.
For many people, learning new skills and advancing their career is just as important as the money they make. About more than 40 percent of the employees said they would consider leaving their present employer for another job with the same benefits if that job provided better career development and greater challenges.
7. Create more opportunities for employees to share their knowledge.
Employees like to share what they know. Create more opportunities to let them shine! Training sessions, mentoring programs and presentations provide opportunities for employees to teach others, while increasing employee engagement and promoting cross-training.
8. Work life Balance
Work life balance is high on the list of employee retention strategies for any business. If it fits with your business strategy, think about offering a work-at-home schedule for part of the work week. Helping employees to balance their work and home life are critical to employee retention. Getting the work done is critical, so it's easy to look the other way when your employees are working 60 hours weeks on a 40 hour salary. But remember, an overworked employee is not productive.
Employees who are overworked and burnt out often have excessive time off, including increased sick time which not only decreases productivity, but effect your bottom line. You should make sure that your employees know that you are aware of the work that they do daily for you, and that you value them.
9. Have more fun and interests at work.
Most employees enjoy being engaged in their work and people are more engaged when they are using their strengths. Interesting work should be emerged when people are encouraged to build on their skills.
This is self-explanatory and often free, yet so many employers fail to do it. Especially in high-stress jobs, the ability to laugh can make things more bearable and may even keep a good employee from heading out the door. So you should try some fun and safe ways to make work more enjoyable.