Reduce Team Turnover at Your New Business
Keep your best people easily by following these 7 great tips!
A few of the main causes of team member turnover are poor personnel selection, limited growth opportunities, bad decision making, lack of recognition and feedback, overworked team members, and low pay. Some businesses may not be able to give their people higher pay, but they can make impactful changes that increase retention. Want to reduce the turnover of your people and make your small business an amazing place to work? Then, check out these 7 easy suggestions from 7 expert business owners.
1. Add the RIGHT People to Your Team
“Hire the right people. Hire people who not only have the skill for the job but who fit in with your company culture. If they don’t fit in with your work environment, then they won’t be happy or get along with their co-workers. In turn, they won’t stay around long.” — Morgan Lathaen, Marketing & Brand Coordinator, Thumbprint
2. Mentor Employees (Great way to reduce Employee Turnover)
This is something we believe in massively at Pure.
“Focus on development – the on-the-job kind and the kind achieved via mentorship and ongoing feedback. Everybody, especially the younger generations crave learning, growth, and development opportunities. They also thrive on feedback and guidance. The best way to keep your team motivated, engaged, and productively contributing is to help them learn fast and continue iterating their skillset and knowledge base as well as growing their network of mentors, advisors, allies, and advocates. Annual, or even quarterly, training ‘events’ will simply no longer cut it in this new paradigm. Employers need to be strategic, intentional, and proactive about offering or supporting informal learning.” — Halelly Azulay, CEO, TalentGrow
3. Always Show Employee Appreciation (excellent way to reduce employee turnover)
“One way to reduce the turnover within your team is to make it clear to people they are valued and that they have many opportunities for promotions and growth. If they feel needed and see the opportunity to keep progressing career-wise, they are less likely to leave.”— Stacy Caprio, Founder, Her.CEO
4. Have an Amazing Company Culture
“Build a culture that people feel connected to. When they believe in the mission of the company and what it stands for, their engagement will be retained and their desire to commit to the business will grow. With a strong culture, a connection is built, and work feels more like a community than an office. Constantly encourage your employees to grow, with top talent you want to keep them intrigued, challenged and motivated. When someone becomes bored at work, they will begin to look for other challenges that are likely elsewhere.”— Jared Weitz, CEO, United Capital Source
5. Host Regular Check-Ins (Key to reducing employee turnover)
“One of the things we do to make sure our guys are happy with their work is to ask them if they are currently facing any challenges and what we can do to make their work easier. You would be surprised how much you learn when you give them free rein to explain what they are struggling with and how you can directly help out. You want your team to always feel that they can turn to you for help, no matter what.”— Seth Kravitz, CEO, PHLEARN
6. Give Positive Feedback
“People crave more positive feedback than you may think. Use this ratio when giving feedback – 5:1. For every 5 positive reinforcements of employee impact, give one constructive.”— Todd Horton, CEO and Founder, KangoGift, Inc.
7. Handout Exit Surveys
“You can use exit surveys to find out exactly why people are leaving and address the root causes of preventable turnover. The key here is preventable. A well-designed survey can identify those reasons so that you don’t waste time trying to reduce turnover that’s non-preventable.” — George Gillies, VP Operations, Insightlink Communications