How to Avoid Expensive Turnover at Your Business

by Nov 9, 2021

Get 60% off the ‘Secrets of a Six Figure Freelancer’ ebook today

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.

Need help marketing your business? Get a step-by-step guide here!

Other Posts You Might Like

Important Accounting Tasks You Need to Get Done at Your Business

If you want to run a successful business, you absolutely need to keep up with your finances. Your financial abilities...
Read More

How to Keep Everything at Your Business Organized

One of the most important and underrated parts of running any successful business is the organization that goes on behind...
Read More

Types of Investors That Will Buy Your Business

When growing and building a business from the ground up, there are several different ways that you can make a...
Read More

How to Handle an Influx of Clients

Any business can experience times of growth and times of stagnation. And when you are experiencing growth, your first response...
Read More

How to Improve Client Satisfaction

Making clients happy from the start of their journey is important to keeping them long-term and to their success. All...
Read More

How to Keep Up With Your Competitors

As a successful business owner, your first priorities are on doing quality work and serving the needs of your clients....
Read More

How to Strengthen Cybersecurity for Your At-Home Business

The pandemic has altered the course of careers for thousands of people over the last two years. Many have started...
Read More

How to Change Your Mindset to Achieve Business Success

Going out on your own and starting your own business is the most effective and direct route towards the kind...
Read More

What You Should Know About Taxes on Your Business

Business owners know that taxes are not a simple matter. Whether you have several employees or you’re a sole proprietor,...
Read More

How to Avoid Employee Burnout at Your Company

As you are running a business you have to mind the balance between making sure that your employees are productive...
Read More

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.

Work with Me

Get The Book

AppSumo badge

Featured Post

Pin It on Pinterest