Turnover, or employee turnover rate, is a natural phenomenon that exists in all businesses. However, when it is too high, it leads to increased costs and can be a real barrier to productivity. In this article, discover 7 techniques to reduce turnover in your teams.
1 — Identify the causes of voluntary departures
The first thing to do to optimize turnover is to understand the reasons that push employees to leave the company. To do this, at each voluntary departure, it is interesting to conduct an individual interview to discuss the reasons that encourage the employee to leave. Although each case is different, you may find that some causes are often mentioned. This will therefore give you an idea of the priority areas to improve.
At the same time, you can calculate company turnover using the following formula:
[(number of departures + number of arrivals/2/ [number of employees on the 1st day of the period]
This data can be used as a basis for knowing if your turnover rate tends to increase or decrease from year to year.
2 — Offer an attractive salary policy
Even if employees are increasingly looking for meaning in their work, salary remains a priority criterion for choosing between two employers. It is therefore important to offer your employees salaries that are in line with their skills and responsibilities, and that are attractive on the job market.
The remuneration policy does not only include salaries: it can also include bonuses linked to the performance of the organization or the addition of a retirement savings plan, for example.
3 — Focus on the 2.0 employee experience
From recruitment to offboarding, the employee experience must be thoughtful so that your employees want to stay in the company.
To do this, you can set up original and immersive recruitment processes, take care of the integration of employees once they take up their position, offer teambuilding activities regularly, support them in managing their careers, etc.
The first moments of an employee's life in a company are often decisive for the future, so it is an essential aspect to take care of in order to optimize turnover.
4 — Offer well-being and good working conditions to employees
An employee who feels good at work is naturally more productive, more committed and more loyal to his company. It is therefore essential to offer optimal working conditions to your employees to reduce your turnover.
To work well, your employees need to have at their disposal the necessary equipment to carry out their tasks in the best possible way. They must also have suitable rest areas.
The balance between professional life and professional life has also become a real challenge for organizations. More and more employees need flexibility in their schedules and want to telework several times a week.
So make sure that your employees feel good and that they are in a position to carry out their missions optimally.
5 — Be vigilant about managers' practices
Poor management practices are a reason frequently mentioned by employees who leave their jobs.
In this regard, traditional and authoritarian management is often not very popular with employees, who prefer to have a minimum of autonomy to organize their tasks. Trust is therefore essential for employees to feel good and want to stay in the company.
Active listening, Communication, transparency and good management of everyone's workload are essential qualities for today's managers. Do not hesitate to offer training courses dedicated to team leaders who need it.
6 — Engaging employees
Engaged employees are naturally more likely to stay in their organization for a long time. Commitment therefore plays a role in turnover in companies.
For your employees to be involved, it is important to show them recognition on a daily basis: this is what employees would like to change first in their company (Gallup 2023 study). Autonomy, respect and the need to learn new skills are also mentioned.
To make your employees actors within your company, you can set up a crowdfunding platform. With Teamstarter for example, all employees can propose project ideas to be carried out in their company. They also receive a sum of money each month (the amount is defined by the company), which they can invest in the project of their choice. Once the necessary amount is raised, the project leader brings his idea to life. This type of initiative has a direct influence on employee engagement, and therefore on turnover.
You should know that the latest Gallup report showed that only 7% of French people were committed to their business. Faced with this alarming figure, it is essential to put in place the necessary measures so that employees are more involved in their organization.
7 — Making employees evolve
Finally, career management is an essential element in reducing turnover in your company. Without action on the part of the company, many employees get tired of their missions after 2 to 5 years, and choose to leave to discover a new company.
Offering employees training, internal mobility, mentoring programs, or horizontal or vertical career development can build employee loyalty. This makes it possible to meet their expectations regarding their mission, to avoid routine and to continue to stimulate them. Businesses that implement real career management programs have significantly lower turnover rates than those that don't take action.
Understand the challenges of turnover in business!
Download our infographic to explore the key figures, consequences and challenges of turnover in business.
In this infographic, you'll learn about:
- The current turnover figures : Get accurate data on staff turnover rates.
- The consequences of turnover : Analyze the impact on performance and corporate culture.
- Issues to consider : Identify major challenges and opportunities to improve talent retention.
Download the infographic now! ⬇️
High turnover in companies has a significant financial impact, which includes recruitment and training costs. This also often has consequences on the balance of teams and sometimes on employee morale: it is indeed difficult to have little stability in the workforce when working closely together. Investing money, time and energy to optimize turnover is a very good way to reduce costs in the long term, but also to maintain the productivity of the company. It is therefore an essential subject to be addressed within organizations. Thanks to the 7 techniques presented in this article, you should obtain very interesting results concerning the reduction of your turnover. Do not wait any longer!
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