Employee turnover, the rate at which employees come and go from your company, can be an essential factor in determining the health of your business. “Low” turnover is glorified as a sign of successful management. Still, the truth is low turnover can often hide crucial negative factors, including poor selection and training of employees, overpaid employees, and complacency.
Strange as it may seem, high turnover can be a good thing for your company, provided you learn from it. Some of the most important lessons learned from high turnover rates may be gleaned from two organizations that face constant turnover of their employees: the military and professional sports teams.
Handling constant turnover while maintaining high performance is a must in both organizations, so here are some tips that can help your company positively deal with turnover.
Superior Training Programs are the Key
It may seem an unusual approach but take the time to talk with your departing employees about their reasons for leaving and what could be better as far as training and onboarding are concerned.
Retaining employees begins with their training when they arrive. Your onboarding program needs to be complete, organized, and ready at all times to get new employees up to speed and on the job as quickly as possible. Review your onboarding and training programs to ensure they provide the necessary training to run the company’s software programs, provide any education needed for the position, and work within the company.
A Shift Toward Greater Success
High employee turnover may seem negative and often is, but sometimes employees leaving the company can indicate growth within the company and a positive shift toward success.
As your business grows, some employees will rise to meet the new challenges presented and continue to fit into the workplace culture and goals. Others may feel disconnected from the company’s strategy and brand and want to go in a different direction.
Whatever the reason, it is better for employees to exit than try to fit into a company they no longer fit in with.
Role Expansion and Promotion
When employees leave, the role must be filled. This could lead to promotion within the company, allowing current employees to expand their roles and progress in their careers. It may also require looking for fresh talent to bring into the company, adding more diverse skills and talent to the mix to encourage the continued growth of the business.
When your company experiences high employee turnover rates, it is an excellent time to look at the employees leaving and determine what factors lead to their departure. Use this experience to improve your onboarding and training processes, find new talent that fits into your workplace culture, and encourage your current employees to reach for more significant roles as well.