The Most Overlooked Method of Improving Employee Retention
Virtually every company measures turnover. For some industries – including hospitality, customer service and retail – typical turnover rates can be as high as 40 percent. One HR manager stated that his organization prepares for high turnover by making sure the jobs are simple to learn so they can quickly incorporate new individuals when they’re hired.
While this strategy may be true for some companies, research reveals that it’s not actually a good approach. No matter the position they’re in, permanent employees offer far more value than the ones just cycling through.
Studies reveal that the total cost of losing just one employee can cost a company literally thousands of dollars.
What’s the best way to decrease employee turnover?
Paying your staff what they’re worth is a start. According to experts, a lower salary will drive a higher turnover rate. On the other hand, overpaying them won’t offset a negative work environment. The truth is that several businesses with hired part-time help, such as restaurants, home health care businesses and retail stores, only have so much to spend on their employees’ salaries. The margins in these businesses can be super thin.
One of the most crucial areas to consider in decreasing employee turnover is the general work environment. It’s your job as a supervisor to create a positive, collaborative working atmosphere where all members actually want to work as a team. This also includes providing them with a certain amount of flexibility in their schedule.
How employee scheduling software decreases turnover
Since budgets are often too restrictive in terms of higher employee compensation, tools such as Hello Scheduling can provide something they truly desire and for free, and that’s flexibility in their work schedule.
Schedule flexibility begins by considering the availability of your employees. By using Hello Scheduling, employees will have the ability to log into the company’s system from virtually any computer, mobile phone or tablet in order to enter their availability. Because you’re in charge, you can readily approve or deny their requests. Once you approve their requests, Hello Scheduling will make sure that employees aren’t accidentally scheduled for particular shifts if they are unavailable.
Employees have greater flexibility in their schedule if they can request unavailability when needed.
Once the work schedule is set, Hello Scheduling lets your employees trade shifts with their co-workers, giving them even more flexibility. Trading shifts, or shift swapping, means that an employee can simply trade his or her shift with another coworker’s shift. After a shift is swapped, you’ll instantly receive a notification that some of your employees wish to trade shifts, whereby you can either deny or approve the request.
Also, Hello Scheduling has what’s called “offer up shift” capability. Using this key feature, employees are able to offer their shifts to the entire organization. Any employee who is able to work that particular shift will receive an email that the shift is “offered up.” Unless another employee is willing to take the shift, the original employee is still expected to work it, however.
Other key ways to avoid employee turnover include the following:
Respect every employee in your organization.
In the end, the most enduring and successful organizations are ones that have a deep respect for all their employees (and clients) and a focused mission, while putting their time, money and energy into creating a very engaging and positive work environment. They’re careful to choose the right individuals who’ve proven their work ethics and offer them opportunities to move up the ladder once the time is right.
Treat your employees as if they’re irreplaceable and valuable.
Employee retention is nothing more than just a symptom of a bigger problem, but it must be taken seriously. Once your employees are firmly established, it’s likely that the only reason they’ll ever leave is because their positions weren’t challenging enough for them.
For example, one outstanding employee can offer much more value overall than three or four average employees. Great employees will work efficiently, please customers, and gain your confidence. If you consider just how much time and money you’ll eventually lose if you must replace one of your star employees, you’ll soon discover how seriously investing in them is one of the smartest moves you can make.
Let your employees know where they stand.
Take the time to outline clear and challenging career goals for your employees. They want to know what lies ahead of them in terms of taking their job to the next level. Also, perform annual reviews to discuss these important topics and to ensure that you’re both on the same page. This will encourage them to ask you questions concerning their careers and make them feel like an integral part of the organization.