Overcoming High Employee Turnover
Employees come and go, but it shouldn’t happen all at once. If your staff is shrinking and you aren’t sure how to stop it, here are five tips to help you overcome high employee turnover.
Start Hiring Strong
You can’t undo an unsuccessful hire, but you can do your best to prevent them in the future. This makes your next hire the first place to start when overcoming employee turnover. Before you even start with onboarding, take a step back and detail your job descriptions. If your current postings are vague, uninformed, or just not up to date, you could end up misleading candidates into a position they don’t belong in. To further increase your chances of retaining talent, focus on hiring candidates that fit your company through applicant screening.
Offer Better Benefits
Salary isn’t always the reason employees stay. In fact, if you want to entice each member of your workforce, you might want to offer them another form of compensation—like ancillary benefits. Accident, cancer, and hospitalization insurance options can give your staff peace of mind just by being with your company. On top of typical medical options, like dental and vision, ancillary benefits allow employees to customize their plan and create a system that works for their individual preferences. If possible, try offering remote work days or even overtime opportunities now that more employees meet the salary threshold for overtime eligibility in accordance with the Department of Labor’s final overtime rule 2.0.
Strengthen Employee Satisfaction
If you want to stop employees from searching for other opportunities, improve their daily satisfaction on the job. To find out exactly what you can do to improve your workplace for each member of your staff, administer a survey. Taking your staff’s feedback into account, you can create recognition programs, personalize training workshops, and come up with other fun ideas to engage your employees.
In a co-employment plan, a professional employer organization (PEO) absorbs certain responsibilities and co-employs your workforce. The PEO acts as an HR provider while also assuming the responsibilities for payroll obligations and tax benefits. Overall, co-employment offers a range of benefits while minimizing the liabilities of the initial employer, which can allow you to dedicate more time to retention.
Partner with PER
At Professional Employer Resources (PER), we can provide the tools to decrease turnover through co-employment and a host of other services. By tracking employee-specific information, we can improve retention and help you overcome any turnover hurdles. Choose from human resource services, payroll and benefits administration, liability management, and more to find the right mix for your company. To turn around your turnover, call 888-599-4991.