Employee engagement and high turnover are two issues many small businesses have to tackle. Things are becoming even tougher for business nowadays as employees feel more empowered than ever and are more willing to look at their options. One study found that a whopping 75% of employees today do not stay in their current position for more than five years. This means that you will need to go above and beyond to make your workplace as competitive as possible while putting your employees’ needs at the forefront. Here are some ways in which small businesses can reduce turnover and boost employee engagement.
Outsourcing HR is one of the best things that you could do to hire better employees and retain them. According to one study, working with an outsourcing service like a PEO could reduce turnover rates by as much as 14%. This is because these companies are experts at knowing what makes a perfect employee and identifying possible issues before they materialize.
Very few small businesses have what it takes to recruit and screen employees properly. They might also not realize what’s wrong with their job listings and why they keep attracting the wrong type of employee. This isn’t something you’ll have to worry about when working with an outsourcing company.
They do much more than simply hiring too; they also can help you craft attractive and competitive benefits packages for your employees while ensuring compliance. This means fewer headaches for you and happier employees. Poor benefits are one of the top reasons why employees leave but this topic can be very difficult to navigate for those without the expertise.
If you’re struggling with any of these things, you should consider speaking with a human resources outsourcing company today. Payroll and human resources outsourcing companies like G&A Partners will be able to handle all of your needs and come up with solutions that will help you reduce turnover and get a more engaged and performant team.
Study Your Turnover
You have to look at the exact reasons why your employees are leaving. You should pay special attention to your highest performing employees as their departures cost you the most. You need to examine what you could’ve done to keep them. This is where exit interviews can come in handy and is also why you need to be as courteous as possible with your departing employees. Sometimes, you might uncover simple things that could be easily corrected, like rigid scheduling structures, for instance.
You should also know that many of your employees may refuse to tell you why they’re leaving out of fear that they’ll end up burning bridges. So, you will also need to do some investigative work and look at the circumstances that may have led to them leaving. You should also check if there are any common denominators, such as certain managers for instance, or certain times of the year.
You could notice that many employees are leaving at times of high activity, for example. You could then consider solutions like hiring temporary employees to alleviate their workload during those periods.
You should also get your employees as involved as possible by asking them what could be improved in your company. This could be done anonymously or through meetings. Also, ask what they like about your company so you can emphasize it. Having a fun and inclusive culture will increase the chances that your employees will stay. And, if they leave, they will be more likely to have nice things to say about you as an employer.
Consider Remote/Hybrid Work
Employees today want more flexibility, and this isn’t going to change anytime soon. If you haven’t been forced to go remote at least to some level yet, you should consider it now. If you are afraid that you will lose track of what your employees are doing, know that there are plenty of tools that will allow you to monitor your employees’ work from wherever you are as long as you have an internet connection.
We would suggest that you look at agile methodologies, especially Kanban. Kanban tools offer a simple way to visualize the workflow of your employees and are perfect for mixed teams. They also allow you to load tasks in advance and give your employees more autonomy. This will prevent you from having to micro-manage as well.
Encourage Continued Education and Advancement
Another way to retain more of your employees is by investing in their future. Employees are increasingly expressing their desire to grow, and employers who don’t support their needs will see higher turnovers. According to LinkedIn’s 2019 Workforce Learning Report, 94% of employees would be more open to staying with a company if they helped them learn. These aren’t numbers you can afford to ignore.
There are many ways that you can foster development in your organization. You can set a budget so that you and select members of your team can attend relevant conferences. You could hire a third party to set up a training program for you, or you could leverage open-source learning and provide as many learning tools and supports for your employees as possible. This could be physical support like CDs and manuals, or virtual support, like an internal learning database or online videos.
You should also consider looking at peer-to-peer training opportunities. If you have employees who are subject matter experts, it would be a shame to put that expertise to waste. Speak to them to see if they would be interested in giving workshops. These could be attended after work, or during lunch. This would not only improve your employees’ knowledgebase but it’ll instantly make your employees feel more valuable and engaged.
Have a Mentorship Program
Another way that you could boost learning and personal development is by setting up a mentorship program. This too can be outsourced. You could focus on your managers and high-level executives so the effects will trickle down to your employees.
Keeping employee turnover down and engagement up is often easier said than done. But it’s possible if you are ready to get everyone involved and follow through with concrete action.