Is Turnover Hurting Your Bottom Line?

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Chaos ensues when employees are constantly moving in and out of your company, which will eventually impact your profit margins. Every business has turnover, but if yours has become excessive, it’s time to dig deep and get to the root of the problem.

Learn how to make your organization a better place to work, so top talent doesn’t want to leave.

Make Senior Management More Visible

Employees are not impressed by executives who stay tucked away in the C-Suite. There’s a huge disconnect when top company leaders are viewed as more of an illusion than actual people. Increase the visibility of your company executives by scheduling regular town hall and departmental meetings where they can personally address the group. Have them make a point to regularly stop by different functional areas of your office, to get a little more involved in the daily life of standard employees.

Check-In With Employees Regularly

Managers often spend a lot of time focused on troublesome employees, leaving top performers feeling a bit slighted. Change this by instituting a company policy for managers to have weekly or biweekly one-on-one meetings with their direct reports. These sessions can be used to discuss any roadblocks they’re facing or challenges they’d like to take on, which effectively opens the lines of communication. Many people quit their jobs because they think their boss doesn’t care, so this can have a very positive impact on your retention rates.

Give Excellent Perks

Free snacks in the breakroom and casual Fridays are nice perks, but they’re really nothing special. Take it up a notch by offering enticing extras like free catered lunches, in-office happy hours every Friday and on-site yoga classes. Even if you don’t have a much room in your budget, you can still sweeten the deal by allowing people to work remotely or letting them have flexibility with their work hours. Sometimes it’s the little things that mean the most.

Pay Well

You certainly don’t want your team to be motivated solely by money, but a passion for the work only goes so far. The salary you pay your employees pretty much determines their standard of living. If you want them to be part of your long-term plan, pay them enough to enjoy the quality of life they deserve. People might be willing to work for pennies for a while, but they’ll ultimately be forced to move on if they’re struggling to make ends meet.

Provide Management Training

Bad managers are the number one reason people quit their jobs. Working for a supervisor who doesn’t know how to manage people can make every day awful. Avoid this by providing regular management training to every employee in a supervisory role. Oftentimes, people are promoted into managerial positions without any prior experience as a boss, so you need to provide them with the tools they need to succeed.

Tired of losing top employees to your competitors? Partner with Barrington Staffing. We offer temporary, temporary-to-staff and direct hire staff in the areas of administrative support, executive assistant, human resources, reception, general office/clerical, call center, customer relations, marketing support, IT support, social media, accounting, office management, database/date entry operator, purchasing, sales, and technical.

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