Seven Ways to Significantly Reduce Employee Turnover at Your Firm

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Gartner has predicted that employee turnover in the U.S. will witness a 20 percent jump this year. And this number is big enough to startle businesses of all sizes.

Whether you own a furniture store or run a large manufacturing enterprise, employee turnover is a sour spot for all businesses across all industries. Losing an employee means your business will spend time and resources to find a replacement – a task that’s often cost-intensive.

Therefore, reducing employee turnover is a goal for many organizations these days. To help you more, we have compiled this list of ways to reduce employee turnover at your firm.

Hire the Right People

Hiring the right people means hiring people who not only have the skillset for the position you’re looking to fill but also people who share similar work ethics. Now, this may be a tough job to do with a few standard interview questions. But you can push for hiring the right people with various recruitment techniques.

Provide Easy On-Boarding

Whether it’s your customers or your employees, everyone seeks a seamless onboarding experience. Make sure you have protocols and automated processes in place to facilitate a newcomer.

Use Technology for Employee Management

Instead of going the traditional way to manage employees and then losing track of it, use technology. There is various employee management software that you can use to track employees’ working hours, performance, and other metrics.

 

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Optimize Workload

According to a report, 77 percent of employees have reported burnout at their current jobs. Once again, technology can help you retain happier clients. Just like you rely on inventory management software to ensure your inventory isn’t compromised. Invest in employee management systems to make sure that none of your employees are over or underutilized.

Encourage Feedback

If you want to have happier employees who stay for the long haul, hear them out. This is a simple mantra of successful businesses that boast of their low turnover rates. Implement transparency in communication and encourage feedback from employees regarding employee management processes.

Prevent Bench Time

The time an employee spends free between one project and another is called bench time. If an employee has too much bench time, it will result in a lower ROI, an unproductive employee, and an employee who will start seeking growth elsewhere. By using technology and tools, you can reduce bench time to keep your employees engaged.

Monitor Your Turnover Trends

Lastly, analyzing your current turnover trends may help you identify some problems that technology or strategy can help you deal with.

But if you’re on the lookout for an advanced cloud-based employee management system, then we have you covered. Get in touch with us at Althea Suite to get your hands on sophisticated cloud-based inventory management software, POS software, and order and delivery and management software.

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