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High employee turnover affects profitability and reduces internal morale. It has been estimated that it can cost almost twice an employee’s salary to find and train a replacement, not to mention the time loss and inefficiency of this problem. In this part two of a two part article we will discuss Seven Steps that will help reduce your turnover. STEP NUMBER FOUR - Balance Your Talent In my book “Talent Balancing - Staffing Your Company for Long Term Success” I talk about how to find the right people for the right job and balancing the workload so everyone does their fair share and no one has to work overtime in order to get their job done. When emergencies come up, people will have to put in additional hours, but this should not be the norm. Another reason employees leave is because they feel overworked and under appreciated. Another solution is to hire temporary or part time people to assist in the backlog. STEP NUMBER FIVE - Give Positive Feedback Business today runs at a hundred miles an hour. Everyone is busy putting out fires and getting their job done. It is very important for management to show appreciation and let employees know when they are doing a good job. Simple awards or cash incentives are always welcomed from the workers. Make sure that you are giving these incentives to the people who are doing the best work. Having a free lunch for everyone every quarter is also a good way to say “Thanks, you are appreciated.” STEP NUMBER SIX – Give Employees Responsibility And Authority Equally demoralizing to the employee is not knowing what their responsibilities are or worse, not having the authority to get the job done. Successful people must be able to feel that they OWN their job and are working as a team to meet the corporate goals. You should never micro-manage any employee at any time. Employees who are “mentally” into the job and have the responsibility and authority to do so are far more inclined to perform well. STEP NUMBER SEVEN – Perform Formal Exit Interviews Exit interviews are an excellent way to find out the reasons why an employee has resigned. Money is the usual reason but again, is never the entire story. A good HR staffer will be able to get to the core of the problems the employee had during their tenure. It is also a good time for the employee to “dump” all of their complaints about the company, management, peers, policies, etc. Once HR knows “everything” they can inform management and determine what is real and what is not. Real problems must be quickly addressed so additional employees do not leave for the same reasons. END PART TWO OF TWO Jim Stedt is a partner at The Business SoftSkills Company (GetSoftSkillsNow.Com) located in Santa Ana, California. They provide job readiness and workforce success videos for education, business, prisons and individual use. Training is available online, on DVD, or through an affiliate program. These products are the most complete and concise soft skills training packages now available for the price of an average college textbook.
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