5 ways to reduce quit rates
Many companies are now newly focused on stemming the tide of employees quitting their jobs. Whether those voluntary separations are due to employees taking new positions at other companies or quitting the workforce altogether, they’re disruptive and expensive for the organization.
There are major initiatives that can help, from undertaking a significant cultural shift to establishing a strong employer brand, but these aren’t quick fixes. In the meantime, here are five smaller strategies that are much easier lifts and can be faster to implement.
Encourage Managers To Conduct Stay Interviews
Exit interviews only tell us what went wrong. By sitting down with current employees, managers can help determine what each employee loves about their current role, what parts of the job they’re not crazy about, and what sort of new opportunities they’re most interested in exploring. When managers vocalize their desire to keep employees at the company long-term, it helps employees know they’re valued and respected.
Let Employees Star In Employer Brand Videos
Leadership can sing the praises of the company all day long, and it won’t mean as much to employees as hearing the same message from one of their colleagues. Interview employees about the company culture and what they enjoy and appreciate most. What do they believe the company stands for? What makes them excited to get to work each day? And what would they tell someone considering accepting a job at your company?
Help Them Explore Alternate Career Paths Internally
There’s plenty of research on employees quitting because of their managers. A poor manager can have a negative impact on the retention of their entire team. On the other hand, managers can boost retention when they take a personal interest in the careers of each of their direct reports and actively discuss possible next steps for them within the company — even if that next step means leaving the manager’s team for another.
Have Engaged Employees Speak To Onboarding Groups
Some studies suggest that up to 25% of new hires will quit before they’ve been at the company six months. Those first months are critical for building engagement and connection for new employees. Whether you’re now holding onboarding sessions in person or online, try including speakers beyond executive leadership and HR folks. For instance, younger hires might appreciate hearing from employees in their own age group.
Pay Attention To Employee Engagement Surveys
Many companies are finding that the pandemic has affected their engagement survey scores — some positively, based on the company’s handling of remote work, and some negatively, often because engagement is more difficult to build and maintain with a remote or hybrid workforce. If you get bad news, consider it a gift. It could indicate issues that are impacting retention — and an opportunity to fix what’s not working.