Posts Tagged ‘turnover’

Is Turnover Draining your Company?

Tuesday, July 21st, 2015

In today’s video blog, CAI’s Vice President of Membership, Doug Blizzard, discusses turnover and offers ways to help you improve it at your company. Doug begins by sharing that CAI has heard from member organizations that turnover has been rising substantially, doubling and tripling at some companies.

Doug believes that the major issue concerning turnover is that some companies are not addressing it appropriately as a company priority, and he shares his detailed opinion on why during the video. Below is a quick review:

  • Underestimating the true cost of turnover and therefore not allocating appropriate resources
  • Partnering HR with the CFO prior to any executive discussions on fixing turnover is critical
  • Spending time in areas in the company where turnover isn’t a problem to see what you can learn and apply in other areas

CAI has recently added two more HR experts on our Advice and Resolution team who specialize in helping companies think through operational and strategic HR issues like turnover, mergers & acquisitions, talent management, and more. Please reach out to Tom Sheehan or Rick Washburn at 919-878-9222 if you need help thinking through those types of issues.

Simple Steps to Raise Employee Morale at Your Workplace

Thursday, February 2nd, 2012

Disengaged employees are detrimental to your business, and the current state of the economy has increased the number of workers who are no longer engaged. Little to no salary increases, poor benefits options and juggling more with less can cause your high performers to become frustrated and ultimately disengaged. Today’s economic climate might make them afraid to leave your organization right now, but as conditions improve, they’ll be the first to leave you for a competitor that offers them a better work environment.

Before your best talent walks out the door, recognize the impact that high employee morale can have on your organization. Recent research shows that workplaces that boast high morale are more productive and have higher retention rates than companies that don’t. Without proper planning to increase company morale, employees will respond by producing poor quality work, being absent often, wasting time and resources, and leaving your organization. The cost of replacing and training talent is expensive but can be avoided if your organization makes an effort to improve morale.

The five tips featured below are inexpensive ways to create a positive atmosphere for your workforce. By implementing some or all of the tips, you will see the overall morale at your company increase:

1. Remember the Golden Rule

Treat others how you would like to be treated. Taking the time to show your employees respect and empathy will encourage them to reciprocate your actions.

2. Say “Please” and “Thank You”

People forget their manners when work gets busy and stressful, but these two phrases show your appreciation for the work that your employees produce. Say them often to keep your workforce happy.

3. Delegate

Employees stay at organizations that trust them to complete projects with autonomy. Empower your employees by giving them responsibility and trusting them to complete their assignments. Unless they perform poorly, do not micromanage your direct reports.

4. Recognize and Praise

Workers will show loyalty when they feel valued and are recognized for the contributions they make. So, frequently commend your workers when they produce great work or go above and beyond for your organization.

5. Incorporate Fun

Being serious all of the time drains productivity. Schedule group activities that allow your employees to loosen up and take a break from their routine assignments. Casual Friday and team-building exercises are two suggestions.

High employee morale is necessary for attracting and retaining top-tier talent. For additional employee engagement strategies, please contact a member of CAI’s Advice and Counsel Team at 919-878-9222 or 336-668-7746.

Photo Source: bobaliciouslondon

10 Key Strategies to Increase Employee Commitment and Retention

Tuesday, August 24th, 2010

How much does it cost to replace an employee?  A recent article says the average cost is 100 percent to 125 percent of the employee’s annual salary.  With those numbers in mind, it is clear that it pays to retain your workforce.

Some turnover is unavoidable, but most can be prevented.  Here are 10 proven strategies for increasing your employee retention rate:

  1. Clearly define responsibilities:  Each position should have a formal job description.  Employees should know up front to whom they report, what kinds of decisions they are allowed to make, and what is expected each day.
  2. Properly train supervisors, administrators, and managers: Managers and supervisors should receive appropriate training in management and people skills.  Most employees leave a company because of a poor relationship with their boss, not because of the company.
  3. Map out career plans: When employees feel there is a career plan for them, they will be more likely to stay with a company.  Regular performance reviews should be a part of the plan to provide feedback to the employee and to reinforce their career goals.
  4. Ask employees for feedback: Don’t wait until it’s too late – conduct employee satisfaction surveys often.  Ask employees what they want more in their positions, and what they want less.  Then, do what you can to show them you were listening.
  5. Provide fair and competitive salaries: While fair and competitive wages do not guarantee employee loyalty, you can be certain that below-market wages will guarantee that employees will look elsewhere for employment.  Stay informed on what other companies are paying for similar work.
  6. Have an effective orientation program: Make sure you have a formal and consistent orientation program for all new employees.  An employee will feel more like a part of the team if there is interest demonstrated in their success from the onset.
  7. Communicate, communicate, communicate: Employees want to know what is going on with their employer.  Make an effort to keep them informed of any changes being made.  Let them hear it from their managers first, and it will create a sense of loyalty and trust.
  8. Create learning opportunities: Employees interested in advancement will want to learn new things and create value in their position.  Provide those opportunities either with internal or outside education, sponsored by the company.  Make their professional development a part of their review process, goals and objectives.
  9. Don’t forget the benefits: Many employees will tell you they are more concerned and focused on benefits than on wages.  With this in mind, be sure you are offering equal or better benefits than your competitors.
  10. Make sure your employees know they are valued: Take some extra time and resources to recognize your employees publicly for their achievements.  A little recognition can go a long way to retaining an employee who might otherwise have been on the fence.

Photo Source: ogilvyprworldwide