Do you work for the HR department of a company? Do you feel that the employee attrition rate is too high for your liking? Is your management forcing you to bring the attrition rate down? Are you seeking ways to curb employee attrition rate in such a manner that offers lasting results? If you answered yes to all these questions then here is a list of things you can do to control attrition rate.
- Better Communication Channels: Your first step should be to make sure that every employee has the liberty to speak his or her mind. Create an internal forum or hold meetings with the employees regularly to ensure that they are not feeling hostile towards the company. You can also create a drop box where employees can simply leave an anonymous message regarding their bosses or management or anything else they donít like without revealing their identity.
- Reduce Targets: In most cases, people leave companies that have too high or unachievable sales or service related targets. To cure that problem, the HR can read data of employees working in one division. If most employees are able to achieve the targets and one employee is unable to complete the targets then you need to motivate and train that employee. If most of the employees of a single division are unable to meet the respective targets then you need to lower the targets after conferring with the management.
- Offer retention bonuses to employees: If most of the employees are leaving your organization and that includes some senior players then you can adopt the strategy of offering retention bonuses to the employees. You should make sure that the senior most people get the highest retention bonus and the junior ones also get a decent amount of money. You can also make retention bonus a part of employee yearly bonus and give it regularly if you need skilled workers to stay for the long run.
- Shuffle Teams: You can also reduce the attrition rates by shuffling teams within the organization. This step will make sure that nobody works to please a boss and no manager has absolute control over the career growth of an employee. You should also make sure that the employees are given the choice to change their team and only those employees are shuffled who ask for it. A forced team change may prompt an employee to leave the organization too so be very careful with the shuffling process.
- Improve Infrastructure: Many employees also leave a company when they think that the infrastructure of a company is not up to the mark. So the HR should make sure that basic amenities like pure water, clean environment are taken care of so that every employee comes to the office with a smile on his or her face and has access to all basic things like proper laptops, power back-up etc. that help him or her to do the job with efficiency.
- Exit Interviews: If you notice that the employee attrition rate has increased a lot, perhaps you need to change your style of the exit interviews. The reason of the attrition may be as simple as not getting enough appreciation in the company and you can resolve it by asking the employees to speak freely during the exit interview.
- Initial Interviews: The fault may also be in the initial recruitment process. You may be hiring employees who just want to use your company as a spring board and have no long term plans. You can rectify this problem by hiring candidates with a stable job record and avoid hiring job hoppers no matter how much difference there is in their pay grades. You should also make sure that you hire only those employees who have their future carefully planned like they wish to grow with the organization rather than just earn a huge salary.
Got any more employee retention ideas? Please share them with others too.