By Bruno

Most successful businesses recognize that employee turnover reduction and job retention are key strategic objectives toward ensuring organizational stability. In that regard, high employee turnover rates can seriously affect operating performance, customer care, and profitability. In addition, there are usually considerable costs associated with replacing employees related to recruiting, training new hires, and lost business knowledge.

For the most part, businesses tend to place more attention and research on employee turnover, rather than retention. Unfortunately, the turnover data can be misleading, especially as it applies to voluntary turnover. Meanwhile, the progressive companies shift more focus and energy toward job retention by proactively working at getting and keeping enough of the right people. That being said, here are 5 retention factors for you to consider that can make a significant difference in reducing employee turnover.

1. Trust in Management

Essentially, the primary driver for people in an organization to develop a level of trust for management is for the executives, managers, and supervisors to act ethically at all times. Specifically, this means that the leaders will always do the right thing, be truthful, keep commitments, and treat people with respect. Additionally, egos need to be left at home, since people dont care how smart their leaders are, but rather, they want to know that their leaders care about them. People are less willing to leave an organization if they believe that the management team is trustworthy..

2. Hire Wisely

The hiring and selection processes are critical steps in ensuring less employee turnover. By placing more time and effort at the beginning of the process, increases the likelihood of finding the right individual. In the same manner, more emphasis should be on character traits than academic credentials, skills, and knowledge. Also, if there is any doubt in the hiring process, dont hirebe patient and keep searching. By being more selective, will usually increase job retention.

3. Listen to the People

The fact of the matter is, people in the workplace are more educated and will become more demanding for a genuine say to be heard. After all, they have the most influence in how things get done, since they do the job day in and day out. Leaders that take the approach of not listening to their people, especially if they have a lot to offer and contribute, can be demoralizing. Consequently, people will usually start thinking about leaving the company.

4. Provide Career Path Opportunities

For many employees, especially the over-achievers, they do not want to be stuck in a dead-end job with no available advancement opportunities. As a result, a job with no further opportunities on the horizon becomes boring and creates low self-esteem, ultimately forcing people to consider leaving an organization. On the other hand, business leaders that take a vested interest in their people, by taking the time to discover who they really are, and what they want, will clarify any questions surrounding career path opportunities. Furthermore, this will ensure that employees are engaged and they will feel appreciated as well as valued.

5. Relationship with Immediate Supervisor

Unfortunately, employees usually dont leave jobsthey leave their supervisors. For this reason, it is important that there is clarity in orientation and appraisal programs. However, traditional orientation and appraisal programs may not detect any problems between the employee and supervisor until it is too late. Therefore, it is important that there is a measuring system that does not just rely on the perception of management, but also will signal employee concerns about relationships with certain managers.

In summary, by focusing on the above mentioned retention factors will build a stable and low-turnover culture enabling a business to meet near term, as well as future performance expectations.

About the Author: Bruno is a web entrepreneur and social media marketing consultant working for the Norwegian dog community website

Hundefeber.no

. He also owns a lovely

Pomeranian

and a

Mops

dog.

Source:

isnare.com

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