More and more companies are facing a major problem: the high turnover of their employees. Indeed, they are increasingly looking for meaning and fulfilment: retaining them has become a real challenge. Before implementing concrete actions to retain them, we suggest that you fully understand the challenges of the renewal rate in business, and to analyze the situation within your organization. We will then reveal to you how, thanks to the implementation of a real employer brand strategy, you can sustainably reduce your turnover.
The challenges of turnover in companies
Before considering the implementation of concrete actions to reduce this rate, it is important to fully understand the causes of this phenomenon. You must calculate and analyze it regularly, in order to target operations adapted to your situation.
Calculate your turnover
Turnover refers to turnover rate of a company's staff. It can be calculated on a quarterly, semi-annual, or annual basis. It reflects the overall health of your society. Calculating it regularly allows you to be alerted quickly when a strong increase occurs. It also allows you to measure the impact of the actions you implement within your structure.
When calculating turnover, it is important to put it into perspective in relation to current events. Indeed, internal events (strong growth, departure plan) or external events (high unemployment rate, economic crisis, recovery) can have a strong influence, positive or negative, on the departures and arrivals of your employees.
To calculate your turnover, you can use the following formula and multiply the result by 100 to get a percentage:
For example, the company ABC has wanted to calculate its turnover since 1 March. The company had 150 employees on 1 March and has since had 3 departures and 2 arrivals. Its turnover is therefore equal to:
A turnover, also called turnover rate, of less than 5% means that the social climate in your company is quite healthy. On the other hand, if it exceeds 15%, it becomes indicative of potential tensions. Attention, this figure must be nuanced according to your sector, the positions occupied and the level of development of your company. A company that is in a significant recruitment period will recruit more and will therefore have a higher turnover rate, which will not necessarily be synonymous with a tense social climate.
Analyzing your turnover
Once you know your turnover, it is important to interpret it and identify the causes. To do this, you can start with conduct an end-of-mission HR interview with all the people who leave your company. This can allow you to identify the reasons why they no longer want to work in your company. They must be structured and conducted in a caring manner.
Some business sectors naturally have a high turnover rate. This is the case, for example, in hotels or restaurants. A high level of turnover is therefore not always worrisome. On the other hand, you must be vigilant: if it is growing faster in your organization than among your competitors, you must ask yourself questions.
With the arrival of new generations on the job market, turnover has greatly increased in companies. 30 years ago, it was not unusual to spend your entire career in the same structure... This is no longer the case today. If, at home too, young employees tend to stay for a short time, think about implementing internal mobility. In this way, you can offer new professional experiences, while maintaining your talents in your workforce.
The consequences of too high turnover
First of all, a high turnover leads to significant financial cost. This is due to the loss of productivity of the leaving employee, to the payment of his allowances, to the cost of recruiting and training his successor, to the time allocated to his integration, etc.
The consequences can also be organizational: restructuring is sometimes necessary following a departure. Changes in contacts that are too regular can also damage the company's image with its customers or partners. For all these reasons, it is essential to give particular importance to your turnover.
Focus on the employer brand to reduce turnover
Maintaining your employer brand is one of the first actions to take to reduce the number of voluntary departures in your company. A good strategy for this has a positive impact on the recruitment, reception and retention of your employees: it is therefore important not to neglect it.
Recruiting: your first tool in the fight against turnover
When looking to recruit new talent, you need to present yourself as an attractive employer. The way you address your potential candidates partly determines the profiles of the people who apply. By promoting your values and the actions you stand for, you increase the chances of attracting individuals who are similar to you.
By recruiting profiles that are in line with your identity, you increase the chances of building a long-term relationship with your new hires.
Onboarding: a crucial step in your relationship with employees
Your employer brand also plays an important role in welcoming candidates, at the time of The job interview. First impressions are always memorable.
Once hired, you must also take care of the first days spent in the company by your new employee. It is imperative that you prepare for their first week of integration and support them at all stages of taking up their position. The trial period allows both parties to know if the collaboration can work properly or not. To do this, you really need to put your newcomer in the best possible position.
Good integration also involves human interactions. Try to encourage meetings within teams. This allows the new hire to discover their colleagues. You can also organize convivial events.
Talent retention
Finally, the employee loyalty is one of the most important challenges in reducing turnover in companies. Obviously, contractual benefits (salaries, teleworking, vacation vouchers, etc.) are a good way to make employees want to stay. However, other factors play an increasingly decisive role: company commitments, values, working conditions, goodwill, etc. All of this data is an integral part of your employer brand.
Developing it allows you not only to recruit people who share your values, but also to retain them once they have arrived in your structure. Engaged employees are more productive and more loyal, so this is a long-term gain for you. In addition, they can later be excellent ambassadors for your business.
High turnover is never a good sign for a business. In addition to the negative image that this can send back to its customers and partners, this causes a relatively high financial cost in the long term. In order to reduce your turnover, various actions can be taken in your company. The most effective is to set up a Appropriate employer brand strategy. Thanks to it, you will be able to attract talent adapted to your organization and your values, and retain them more easily. In the medium term, they can also become very good ambassadors for your business, and help it develop effectively. If you don't yet have an employer brand strategy, take the time to do it: the benefits will be significant in the long run.
Download our employer brand guide
We have created a guide that advises you on setting up and promoting your employer brand.
Take concrete action on your company's turnover thanks to Teamstarter
With Teamstarter, make your employees actors in your company. Thanks to a monthly budget that you allocate to them, they can propose or co-finance initiatives. Therefore, engage your teams for the long term by allowing them to act in a concrete way. Break down silos and free everyone's ideas with our collaborative solution that promotes initiative and cohesion.
Your employees are supported by our coaches in order to promote the frugality of their projects and to facilitate implementation. The projects are co-supported, thus strengthening cohesion. Your employees share their projects internally and externally: an asset for your employer brand!
For more information, go to our business area or contact us directly!
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