Myth 1: You Can’t Control Employee Turnover
Reality: Many variables drive turnover in a company. Management style, compensation, and the opportunity to increase professional development are among the top reasons people cite for leaving. Although some factors are difficult to control (employee’s commute, a lifestyle or career change, or spouse relocation), ensuring employees are engaged, rewarded, and retained are absolutely factors that can be controlled by employers:
- Recruitment: Managing and controlling turnover actually begins during the recruitment process. Being certain the right candidate is placed in the appropriate role with well- defined expectations is paramount. The first 6 months in a new job are critical to long-term engagement and productivity.
- Performance Management: Once on board, employees like having a performance management program designed to create a dialogue and professional development opportunities. In short, make sure employees get regular feedback regarding their performance and allows them to share professional goals and interests.
- Compensation: Yes, salary does matter. However, it is generally one of many factors employees consider when weighing their options. It’s important to understand your compensation market, and know how your pay rates compare with other local employers or competitors for the same talent. Reward and recognition programs can go a long way toward improving retention.
- Management Skills: Supervisors have an enormous impact on employee morale, performance, and often drive turnover. Invest in developing management skills in all supervisors!
Next installment of this 5-part series will be “Turnover Myth Part 2 – Measuring Turnover isn’t Important.”
The series is co-authored with Kelly Allmon, owner of York River Human Resources LLC.
