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5 ways to reduce turnover

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in Leaders & Managers,People Management

Think about this: 74% of your employees are considering finding another job, according to a study by Harris Interactive. People quit because they are unhappy. Can you afford to lose some of your best workers because you fail to engage them? You can keep employees satisfied with five simple tactics:

  1. Show them respect. Respect their ideas, their time and their work/life balance.
  2. Pay them what they’re worth. Pay isn’t everything, but you should be showing them how much you value them by at least matching what your competitors will pay them. Plus, when they exceed expectations, reward them for it.
  3. Be compassionate and kind. No one wants to work for an authoritative jerk. Prove to employees that you see them as people—not just cogs in the machine. Show them you care.
  4. Encourage risk, accept failure. Let employees take chances. Support them when they fail, and praise them when they succeed.
  5. Grow their skills. Your employees want to learn and grow. Offer them opportunities to do so and to advance within your organization. Otherwise, they’ll go looking for career advancement elsewhere.

— Adapted from “‘I’m Outta Here!’ Why 2 Million Americans Quit Every Month (and 5 Steps to Turn the Epidemic Around),” Alan Hall, Forbes,www.forbes.com.

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