What is employee turnover?
Employee turnover is the total number of workers who leave a company over a certain period.
What causes high employee turnover?
High employee turnover could lead to a loss of precious time and money and lower staff morale. The leading causes of high employee turnover are:
1. Toxic work culture and hostile environment
2. Lack of meaning in job roles
3. Low salaries as compared to the market standards
4. No room for job growth or lack of new opportunities
5. Haphazard hiring process
What is the role of HR in reducing employee turnover?
HR professionals can take the following steps to reduce employee turnover and improve the organization’s retention:
1. Offer career development opportunities, educate employees about promotion opportunities, and provide realistic timelines.
2. Provide managers with continuous training and support to develop their leadership skills.
3. Conduct regular compensation reviews to ensure salaries and benefits are consistent with industry standards.
4. Motivate employees to come out of their comfort zones and foster a growth mindset in team members that value skills development and encourage taking calculated risks.
5. Create brief surveys asking employees to rate the organization in different categories, which can help the organization better identify what needs to improve to keep employees happy, healthy, and productive.