CAUSES OF EMPLOYEE TURNOVER & HOW TO REDUCE THEM

CAUSES OF EMPLOYEE TURNOVER & HOW TO REDUCE THEM

What Is Employee Turnover

An organization's employee turnover refers to the rate at which employees leave and must be replaced. It is important for businesses to keep an eye on employees who leave their jobs. It is an HR measure of how long your employees stay with your company and how often you have to replace them.  (Study.com, n.d.)

We need to focus on employee turnover to track why the employees are leaving the company. Here are some of the reasons why employees leave their jobs & how to reduce them:

•         Employee Compensation is Inadequate

Compensation is the main reason for employees to leave the company. For recent findings indicates that the companies who are paying average market compensation have low employee turnover on the other hand companies paying below average market compensation have high employee turnover so, we can easily identify that the compensation is playing a vital role in employee turnover. To reduce that we should give compensation adequate for the engaged employees.

•          Too Much Work Pressure

Employees who are having too much work pressure are leaving the company because all the employees are working for money but they will not compromise their health for money. So, we should not make employees under pressure. We should evaluate the employee health & take the necessary actions to eliminate them.

•        Bad Managers

Managers have the power to make employees either motivated or demotivated. So, bad managers can make the employees under pressure & not guiding them in a proper manner will lead employees to leave the company. So, managers needed training on how to handle the employees.

                                                                    (Careercliff.com, April 15, 2021)

•          No Proper Performance Appraisal

Employees will not like to be in the same position for a long time. They will expect the promotion & increment. If they did not get the expected appraisal then they will leave their job for sure. To reduce that we should maintain a good performance management system in the organization.

•          Bad Organization Culture

Employees are willing to work in good organizational culture. Poor organizational culture contributes to high turnover. Need to make sure how often and how openly executives communicate with employees regarding organizational culture.

                                                                      (mbaskool.com, May 17, 2020)

 

 Conclusion

Having a high employee turnover rate can negatively impact the company. The main cause of high turnover is a lack of communication, support, and poor company culture. Providing an amazing experience for your staff can help to decrease turnover and increase engagement. Now we know the impact of having high employee turnover in the company & also we discussed how we can reduce them. So, we can come to a conclusion that to keep our employees we need to follow the above-discussed factors.

References

Careercliff.com, April 15, 2021. Career Cliff. [Online]
Available at: https://www.careercliff.com/bad-management-signs/
[Accessed 18 December 2021].

mbaskool.com, May 17, 2020. MBA Skool. [Online]
Available at: https://www.mbaskool.com/business-concepts/human-resources-hr-terms/17909-weak-culture.html
[Accessed 18 December 2021].

Study.com, n.d. Study.com | Take Online Courses. Earn College Credit. Research Schools, Degrees & Careers. [Online]
Available at: https://study.com/academy/lesson/what-is-employee-turnover-definition-cost-reasons.html
[Accessed 17 December 2021].