One of the key metrics of how well your organization is doing is “employee turnover”. Many organizations are happy to maintain an industry average as an excuse whereas on the flip side some companies go way and beyond to ensure that this number stays down and proactively look at how to reduce this number.
I have often thought about how organizations can ensure that employees stay loyal to them. Research shows that companies that do this well follow similar best practices that are carried out consistently without fail.
I would like to share a few best practices which will benefit any organization that really wants to ensure that employee turnover does not stay as a number but a strategy for employee retention and growth.
- Project genuine care for your employees.
One of the most important aspect of companies that really do well is that the leadership and management team engage the heart and connect with employees as individuals demonstrating that they are truly valued and cared for both on the organizational and personal level.
- Create a hassle free workplace.
People feel cared and behave in a more productive way when you make their lives easier . Be quick to implement changes required to eliminate their frustrations and make their jobs easier.
- Create Opportunities for development and growth.
Employees always value organizations that see their growth as an investment and not as a liability. Provide employees opportunities to cross train across functions to allow them to gain fresh perspectives and take on new challenges.
- Keep “Care” on the top of your to-do list.
As we all get caught up in our daily operations we tend to put “showing care” to the bottom of our to-do list. Pay extraordinary attention every single day to the strategy of providing genuine care for employees.
Be on the lookout for opportunities to regularly demonstrate genuine care for your people.
Encourage peer-to-peer care among employees because it is the purest and most genuine form of caring as there is no company agenda involved and helps create a strong sense of community.
One question I encourage leaders to ask regularly is “ beyond a paycheck, what do my employees value?” – The answer along with the above mentioned will provide insights that will help your organization have a healthy turnover and feed your pipeline for growth and profits.