5 Musts For Reducing Employee Turnover

Every company owner and president has learned the hard way that employee turnover is incredibly expensive, time consuming and demoralizing for the entire staff. Hiring, onboarding, training and setting expectations are arduous tasks for even the most seasoned executive. Follow these key steps for reducing turnover and increasing productivity in your organization. Advanced planned can mitigate headaches down the road.

  1. Clearly define your expectations for the position. This should include tasks to be completed on an individual level and any collaboration expectations with other departments.If this is a sales position, clearly outline revenue goals as well as account calls and reporting.
  1. Define the qualifications and experience of the ideal candidate. The Human Resources department or hiring manager will need this information to begin the candidate interviews and selection process. The more fine tuned the qualification expectations, the greater the chance of receiving a smaller, more well qualified pool of applicants.
  1. Determine the benefits for the position. At minimum this should include an outline of medical, dental, vacation and any profit sharing plans. The salary range should be defined as well as any bonus or commission structure.
  1. Upon final selection of the most qualified applicant, a mentor should be selected, coached and assigned to the new hire. This mentor will help the new hire navigate their position, the company departments, policies and general culture of the organization. This mentor should not be the manager of the new hire.
  1. Finally, schedule weekly meetings with the new hire during the first month and monthly meetings for the remainder of the hiring quarter. These will serve to provide feedback on performance and allow the new hire the opportunity to ask any questions relating to either their position or broader company goals.

Follow these tips and you’ll have a greater chance of reducing employee turnover. Good luck!

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