While the slight decrease in 2013 layoffs signifies a healing economy, increasing voluntary turnover has become an all too common trend throughout the United States.
Specifically regarding nonprofits, a higher turnover rate often results in low morale, smaller budgets, and lost time—problems that can prevent an organization from mission advancement. But because such prevalent trends are easy to identify, they are even easier to combat.
Taking a few extra precautions when it comes to employee hiring, training, and separations could help reduce turnover rates and lower employment costs.
Here are 6 ways to fight employee turnover:
- Look for an overall best-fit candidate. During the hiring process, look for potential job candidates who will fit in with your agency’s culture and underlying job requirements. You want someone who gets along with the team and excels at their assigned tasks.
- Pay competitively. Although money is not always the top reason for voluntary turnover, offering a competitive salary helps both obtain and retain strong employees. Even if your company is on a limited budget, you can offer additional benefits packages or rewards as incentives.
- Maintain open and consistent communication. Encouraging your employees to offer their ideas and feedback will make them feel valued. When your employees feel respected and heard, they will also be more receptive when receiving feedback.
- Provide opportunities for growth. Offer cross-training options, as well as upward promotional opportunities. The possibility of advancement, or even a raise, will help keep your workers motivated.
- Show your appreciation. Ongoing encouragement shows that you notice and appreciate all of your employees’ accomplishments. A simple “thank you” or “great job” can provide an employee with a greater sense of self-worth and confidence—pushing them to constantly grow.
- Hold regular reviews and exit interviews. Paying attention to your employees’ feedback can help you change your organization’s structure for the better. Especially when performing exit interviews, it’s vital to note what causes the separations. This way, you can better prepare for future similar situations.
Turnover is a seemingly inevitable part of workforce reality. However, understanding the root of your organization’s turnover causes will better equip you for future employee management—creating a thriving work environment for both you and your employees.