How to Avoid Expensive Turnover at Your Business

by Nov 9, 2021

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Hiring qualified, dedicated, and hardworking employees is a major headache. Not only that, but it is also rather expensive – you have to hire recruiters and hiring experts, go through interviews, maybe even offering starting bonuses to get people in the door. it all adds up. Which is why keeping employee turnover low is essential to keep your business costs low. Here are some ways to keep your business turnover low. 

Make Your Business a Great Place to Work

Not all work places are enjoyable places to work, so employees often don’t want to leave a great workplace. But making your business a great place to work isn’t always as simple as you want it to be. 

A couple things you can do to make your workplace a good space to work are offering fair compensation and benefits, bonuses, and doing fun activities as a team. You can also have strong values that your company acts on, which makes employees feel like they are doing something that is benefiting the greater world. 

Build Up Your Employees

In order to keep your employees happy and feeling seen, you need to recognize their efforts and success. Employee recognition helps attract and retain quality talent at your business. People like receiving credit for work well done, and the better you are able to publicly and clearly congratulate and reward good work, the more everyone is going to want to do good work. 

Giving recognition helps employees feel like they are seen and valued – and people don’t often leave workplaces that make them feel valued. Try giving awards, bonuses, and verbal and written congratulations when employees go above and beyond.  

Listen and Act on Complaints and Suggestions

A lot of companies will listen to employee complaints. But very few ever act on those complaints and suggestions. Making your employees feel heard is great, but they will feel seen and valued when you act on what you have heard. 

Employees that can affect real change in their workspace will make sure that the workspace remains a place they want to work. This will cut turnover drastically, as fixing the things people don’t like will eliminate things they don’t like. It’s as simple as that. 

Employee turnover is no fun. It is time consuming and costly. But with a little creativity, sensitivity, and effort, you can avoid turnover by making sure your employees feel valued and important. Give a few of these ideas a try and you’ll see the results in a lower company turnover rate.

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Hi, I’m Kate

Hey, I’m Kate! I’m a designer, digital nomad and founder of Six Figure Freelancers – I love to help talented tech pros start businesses.

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