Employee turnover rate is measured by the employees who leave an organization during a specific time period. To calculate the turnover rate, the total number of leavers is divided by the total number of employees and then multiplied by 100. For example, if there were 4 leavers in a year and the total number of the employees is 90, it will be 4 / 90 x 100, and the turnover rate will be 4.44%. A good turnover rate should not exceed 10% per year.
So, how you should control employee turnover?
Before sharing the tips to control staff turnover, you should list out what will make your employees want to leave your organization.
Needing more challenges and a higher salary
When they don’t receive any acknowledgement of their value
When they need a more compassionate or caring environment
When there is conflict in the workplace
Seeking a better relationship with management
Salary isn’t paid on time
You cannot control an employee leaving; however, you can make some preparation and an employee caring plan to reduce the likelihood of them leaving.
For example, arranging consultation or sharing sessions, listening to what your employee wants to say. Also don’t forget to appreciate your employee too, even a small compliment will make your employee’s day happy. That can also build a stronger and more open relationship between management and employees. You also need to take care of their career life. If he or she is not in the right position or doesn’t have the right title, you should consider changing them to a more suitable position. Also creating some small team activities, team outings or group travel will also help your employees become closer and build a stronger relationship. Also don’t forget to pay their salary on time and make sure you review your employee’s salary at least once a year,
The most important thing is to take time in the recruiting process. Because you will need to make sure that the selected candidate understands your company culture and they will be the best fit for the vacancy. Also explain your expectations to the employee and ask the employee’s expectation of the company. In this way, you can reduce some conflict between employees and management and colleagues. This will lead to your employees feeling more secure and happy in their job, meaning their option of leaving isn’t their first choice any more.
