ENGAGEMENT KEY to
Employee turnover is a costly problem.
According to a study conducted by the Society for Human Resource Management, employers spend six to nine months of an employee’s salary to find and train his/her replacement. This represents a massive waste of resources and doesn’t even take into account the nega- tive toll employee turnover has on productivity and the overall profitability of a business.
Poor leadership is often at the root of high employee turnover. According to an OfficeTeam study, nearly 50% of employees are likely to leave their jobs if they don’t feel recognized by their managers. So, what can you do to keep your employees satisfied and engaged?
It all starts with management. Your management team must lead by example and work to develop specific skills that support employee retention through increased per- formance, motivation, job satisfaction and more.
Following are some things management can do to help reduce employee turnover and enhance business results.
Recognize employees. When you recognize and reward your employees for a job well done, you positively impact both their performance and engagement. While this may seem like an easy thing to do, many leaders struggle to do it effectively. Take the time to acknowl- edge the success of your employees and find effective ways to let them know they are appreciated.
EMPLOYEE RETENTION
Create opportunities. Often, employees leave a job because they feel there is no room for growth. When you invest in your employees by creating new opportunities for education and career advancement, you provide them with a reason to stay.
Promote your vision. Employees who feel their work has meaning are driven by a sense of purpose and often are more dedicated to their jobs. Communicate and demonstrate your vision with your team, and inspire them to reach out and achieve their goals.
Cultivate respect. Treat your employees with respect, promote respect between team members and earn the respect of your employees by being responsive, admit- ting to your mistakes, demonstrating that you value their time and energy, and creating an inclusive culture.
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