Reducing Employee Turnover

All businesses that have employees will have some level of employee turnover.

The problem is, determining whether this turnover rate is average, above average or exceptionally low is not quite as easy as it seems. For a start, different times of the year and even different industries will have totally different rates.  

Human resources is all about the management of people, yet a lot of businesses fail to recognize just how important their employee turnover rate really is. A lot of businesses do not focus on the fact that every time one of their employees leaves, it costs them a lot of money.  

Not only was the marketing and time spent to acquire that money wasted, but now the company has to do this all over again.

That is not all; remember that whilst this position is not filled, productivity will have decreased!  

Reducing turnover rate of employees is something that businesses should focus on. They need to stop thinking about just profits and think about how nice a work environment they are providing for their staff. Are the premises a nice place to work in?  

Are employees under paid? Are employees working longer hours than they should, hours they would rather not work? Are there any incentives for employees to increase their productivity?  

All the things mentioned above give employees a reason not just to get out of bed in the morning, but to try harder than they usually would of otherwise.  

If employees get nothing extra from producing double the amount of work, then why would they put themselves through the hassle of working any harder? Similarly, they are probably going to start looking for a job that does offer work based incentives.  

Human resources and reducing employee turnover is not an exact science, but there are plenty of things that can be done now in order to try and reduce employee turnover.    

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Matt

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