One of the hardest parts of managing employees is handling turnover. Losing an employee not only affects the team dynamic, but also costs you time, effort, and money to hire and train a new employee. While there will always be unavoidable turnover, reducing your preventable turnover rates will help your business succeed. Here are four ways that you can help turn the tide on employee resignation.
Support Their Education
Training your employees to do their jobs properly is the first step in a successful business. However, the need for knowledge doesn’t end with the onboarding process. Supporting your employees with continued training and professional development opportunities may help them find new ways to engage and advance within your company. You could also consider offering tuition reimbursement or sharing tuition-free courses with your employees to allow them to further develop their skills. Investing in the growth and development of your employees can pay out huge dividends in terms of a more prepared and supported workforce.
Appreciate Their Efforts
There are a dozen guides out there about how to appreciate your employees. Some recommend tangible gifts, others advise using words of affirmation, and some advocate for financial incentives. The truth is, there’s no “one size fits all” type method. Instead, different employees will respond better to different strategies. Spend the time to get to know your employees. Not only will that help them feel more invested, but it’ll also give you the knowledge of how to best demonstrate appreciation for their work.
Listen to Their Concerns
Training and appreciation are excellent beginnings, but how you handle adverse situations will speak louder than your actions during the good times. Help your employees weather storms by intentionally creating a safe place for them to voice their concerns. Take the time to listen to their concerns and respond thoughtfully. Doing so can help alleviate fears and make your employees feel more comfortable bringing issues to your attention. It may also give them more confidence in your ability as a manager to support them.
Celebrate Their Successes
In addition to appreciating the day-to-day efforts of your employees, finding ways to celebrate their successes can help build goodwill and commitment amongst your staff. You could do something as simple as setting up a bulletin board, setting aside time in a weekly staff meeting, or carving out space in an employee newsletter. Include both professional and personal accomplishments that your employees are comfortable sharing. Celebrating joy as a team can help deepen connections and improve team commitment.
Working to reduce your company’s preventable turnover can help boost your bottom line in multiple ways. You’ll save time in hiring and onboarding, preserve staff morale, and be able to focus on more important topics. You can cut down on the resignation rate by supporting your employees’ education, appreciating their efforts, listening to their concerns, and celebrating their successes. Making your employees feel valued and supported can encourage them to stay on your team. After all, investing in your team is one of the smartest business decisions you can make.