You may have planned your New Year’s Resolution for yourself, but did you create one for your business? Much like our personal goals, businesses need reevaluation every year to understand whether certain processes are working, where improvements can be made, and more. Many times, companies become complicit in how things are run, and even if goals are being met, leaving everything to stay the way it is quickly leads to stagnation, and eventually, any progress will level out – or decline. If you’re not sure where to begin, one easy resolution to start in 2019 is solving your company’s employee turnover issues.
Why Reduce Employee Turnover
No company will ever be able to stop employee turnover completely as each employee has his or her own reason for leaving, sometimes having nothing to do with the company itself. However, it is in the company’s best interest to make an effort to eliminate any easily-resolved reasons from within to help retain great talent and even save money. Keeping many of the same employees over time helps create unity and provides a valuable experience that can only be gained over time. It also helps save others from having to take on more work than a colleague who quit may have left behind, as well as saves the valuable time it takes to review applications, interview, hire and train new employees.
Where to Begin
The first step to reducing employee turnover is to understand why it is occurring. Each case may be different, and no two businesses will be alike, but carefully reviewing the information you gained through exit interviews can help you see where there may be similarities or trends. Of course, this review takes time, and by the time you get a full scope of where improvements are needed, your company may have lost even more great talent. This information can also be gathered from current employees, but issues of confidentiality and fear of reprimands can keep them from being completely honest.
Gaining a full understanding requires the right data, and it needs to get to you in a quick and organized manner to make the biggest impact. The easiest way to do this is to work through third-party outsourcing, such as our company HSD Metrics. We do the heavy lifting for you. We handle the collection of information, process the data, and interpret what it all means before getting it to you in a timely fashion so all you have to do is implement change.
We offer various types of surveys and interviews that your employees will feel confident to provide honest, anonymous feedback. HSD can help you see perspective from current employees through our Employee Engagement Surveys and the reasoning behind an employee leaving with our ExitRight® Interview. We are here to help you succeed in 2019. Contact us today for more information or to schedule a demo of what our products can do for you.