5 Strategies to Reduce Employee Turnover
Essential steps to nurture talent and reduce turnover in your company
Pandemic management has a direct impact on talent retention. This is demonstrated by the study conducted by Smart Culture, which states that 77% of executives plan to leave their company.
“What is going wrong in organizations and why do people decide to leave a company?”
Define the "employee persona" or employee type
Create a transparent branding strategy
“One of the keys is to sincerely convey the personality of the company, what its values are and what day-to-day life is like in the job’s department.”
For this reason, a good initiative would be for one of the people in the business area to explain the projects that are developed, the technology that is used and what motivates them to get up every morning to start the working day. Make it human.
Offering a close relationship towards the candidates
Guaranteeing objectivity in the selection process
Such initiatives will make candidates feel committed to the company from the start.
Transform area leaders into coaches for their teams
Creating a new culture of continuous evaluation and feedback will be one of the essential pillars for carrying out a professional development plan. Here, one of the most interesting aspects will be to train the management of each area to act as coaches for their team. The aim is to develop the best skills of the leader-coach, to help to define people’s objectives clearly and concisely and to draw up a joint strategy to achieve them.
“Annual evaluations do not seem to be the most appropriate way of adapting to changes and the needs of the moment. Therefore, the best approach is to focus on continuous feedback.”
Choosing the best tools for the development of the team and make them the protagonists of the project
Providing the tools to achieve individual development objectives will be another basic factor in achieving the established objectives. An example of this would be to provide opportunities for new real experiences and learning.
Create a 360° wellness program
Wellness programs are essential to nurturing talent retention. Developing new plans that consider the physical, social and emotional aspects of the workers is critical in today’s pandemic.
“An empowered organization is one in which people have the knowledge, ability, desire and opportunity to succeed personally in a way that leads to collective organizational success.”