Employee Retention

4 Strategies to avoid employee churn

employee churn

2020 has been a whirlwind for economies across the globe. 

Businesses en masse had to close their doors for indefinite periods to reduce the spread of COVID-19.

Some have made it to the other end, but not without scars. Yet, others haven’t and had to permanently close their doors. 

But...it’s not all gloom. 

A new study by Willis Towers Watson has found that employee engagement in the workplace is on a swift upward trend. 

Many businesses have had to transform overnight and with that, they’re making sure their employees are being looked after. 

In fact, their research suggests that 90% of companies believe their culture has improved, 83% believe their employee experience is better, and 84% believe employee engagement has gone up.

Those are astounding numbers!

In this blog, we’re going to look at four effective strategies to help you avoid employee churn altogether. 

Let’s get started: 

 

1. Pay your employees what they’re worth

Research conducted by Airtasker suggests that employees who work remotely worked 1.4 more days every month, or 16.8 more days every year, than those who worked in a physical office.

Your employees are what drive your business forward. 

In making sure you’re paying them for what they’re worth, you’re investing in the long-term sustainability of your business.

Employee recognition has the power to completely transform your business 🚀. Download our 10-step guide to help you get started today. Click 👉 here to grab the PDF version

2. Be flexible, where you can

Employees across the world are largely working from home to help curb COVID-19 infection rates. 

But…

The realities of individuals working from home are vastly different from what they are from a physical workplace. 

Families are adapting to juggling multiple tasks at one time, from home-schooling to endless Zoom meetings. 

It’s essential that as a business owner you’re able to allow for flexible work times. 

Many families are working late into the night and early mornings to ensure they fit a full productive day of work in. The same Airtasker research suggests that 54% of remote workers said they felt overly stressed during the workday.

The demands of children who are not in school have taken a toll on many families across the world, but what they need from you is flexibility.

You must communicate what you mean by flexibility with your employees. This doesn’t mean free reign, but rather to understand what their environment requires and to give them that.  

This can help to alleviate stress and anxiety around their work. 

 

3. Give your staff recognition where it’s due!

Giving meaningful recognition to an employee, regardless of how small their role may be, is the single quickest, and most cost-effective way of improving employee morale and engagement.

In fact, this study suggests that 69% of employees would work harder if they were better appreciated. 

There are many ways that you can give recognition to deserving employees, but our greatest learning is that it needs to happen in a timely manner. 

Recognising an employee at a quarterly review is not a great way of maintaining motivation and engagement. 

If you are looking for ways to recognise your employees, don’t worry we have 60 ideas for you in this 👉 blog

  

4. Clear growth goals can drive great business results

Professional development has become a hot topic for many businesses. 

As we move into an era of greater digitisation, the need for employees to up their skills grows daily. 

As a business owner, it’s up to you to help your employees map out a path of growth within the business.

Here’s a 6-step guide to creating an employee development plan.  

These plans help to motivate employees, in fact, 31.5% of employees who quit their jobs cite a lack of career advancement as the reason for leaving. 

Setting a clear advancement path for employees not only helps to retain your top-performing staff, but it also creates a workplace that’s motivated and driven. 

 

Key Takeaways

Truthfully, lowering staff turnover doesn’t have to be overly complicated. In fact, some would argue that the techniques we’ve covered are essentially what twenty-first management is really about.

When you consider that HR drive believes as much as 75% of the causes of high staff turnover are easily preventable, why not treat employees like the assets they are to your business?

If you’re looking to drive long-term sustainable growth for your business then employee recognition is the key. It will help you build a better workplace and increase staff performance. Download our eBook to help you get started today 👇

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