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3 ways to decrease employee turnover

Employee retention begins with you.

Employee retention begins with you.

Employee turnover can be extremely expensive. One study conducted by O.C. Tanner, an employee recognition expert firm, concluded that the cost of replacing an employee can top 400 percent of the worker's annual salary.

How can employers avoid employee turnover in their businesses? There are numerous actions a workplace can take to halt the revolving door. 

A response O.C. Tanner found to be helpful is celebrating work anniversaries. A recent study concluded that employees will remain at a workplace for almost two years longer than others due to anniversary celebrations. In addition, employees that rated their company's anniversary service programs as effective were more likely to stay 4.5 years longer than those without a program and a little over two years longer than those with an ineffective program.

Other steps employers can take include:

  • Encouraging feedback and communication: Ask employees what changes they would like to see or what can be changed to create a better work environment. Feedback for employees and from employees can help close the divide between management expectations and what workers think.
  • Forward thinking: Think outside the box. Learn how other employers retain workers or what employees have experienced elsewhere. Don't be afraid to enter a trial and error thought process to perfect the retention process.
  • Reviewing career development programs: Employees will often stay at companies where they can develop and move up in their careers. Ensure workers understand how they can take their job roles to the next level, as well as how they can succeed where they are. Employee development including skills training sessions, refreshers and new learning experiences can help workers grow as well.

To learn more about SyberWorks services, employee development or to schedule a product demonstration, please call us at 888-642-7078, email us at info@syberworks.com or register on our site.

SyberWorks, Inc.
411 Waverley Oaks Road
Building 3, Suite 319
Waltham, MA 02452

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