6 Ways to Protect Your Business Against Employee Turnover in 2022
Effectively managing employee turnover is a critical component for any organization. Simply put, it’s easier and more cost-effective to keep staff than to continually source new team members. The investment costs of skills training and knowledge transfer are difficult to recoup when the office is a revolving door.
Fast-paced business environments, such as sales teams, generally cannot afford the costs involved in retraining new staff continually. On-the-ground knowledge in these environments is critical, and not something one can learn overnight. It takes time to get a new staff member fully competent in an organization’s culture, and for them to become an asset on the ground. As such, management teams need to keep strategies focusing on employee turnover front of mind at all times. Luckily, there are a few strategies one can employ to retain workers more effectively.
1. Make Professional Development A Priority
Any person serious about their career and job values their growth path. Research from Gallup finds that a staggering 87% of Millennials value professional development or career growth opportunities highly. They want to have a place in their company and understand where they fit beyond being a cog in the machine.
However, many companies are not necessarily on the same page when it comes to employee professional development. Staff career advancement is often not top of mind for longtime execs who just need some bodies in the space. But remember, new staff today is tomorrow’s leadership. Investing in them now will make these individuals your greatest assets in the future.
2. Keep Work Ever-Changing
Managers should constantly have a finger on the pulse of their team’s workflow dynamics. Are teams swamped with more admin than they should be? Where are the bottlenecks, and how are these dealt with?
While it is realistic to expect staff to deal with some admin-related tasks for portions of their day, these must be carefully managed. Companies can successfully navigate employee turnover by keeping employees engaged, stimulated and fully equipped with resources to do their jobs well.
In the sales industry, one of the best ways to achieve this is by establishing a defined sales process. Having a predetermined list of steps to guide a person from lead to customer helps entry-level or new employees to find their feet and manage tasks more efficiently.
3. Make Flexibility A Possibility
Providing flexible work structures immediately incentivizes staff, addressing possible employee turnover challenges. If managed appropriately, remote working solutions can work for almost any sales team. Of course, you need to establish some guardrails by making clear guidelines around approval processes; individual requirements vs company policy; the standard of work; equipment and expenses; security and confidentiality; and how unexpected on-site work requirements would factor in. People have lives outside of the workplace. Remote working schedules that accommodate this fact can sweeten the pot for staff and decrease employee turnover.
4. Leverage Cloud Computing Technologies
Simplifying processes within your company’s structure will also address employees’ work frustrations. When in the field, your employees are reliant on the systems and sales presentation software you have in place. While it’s true that most marketing and sales teams have access to free presentation software, these platforms do not come with the most basic and important tools your employees need to perform well. Customizations are limited and restrictive and you could very well find yourself trying to fit a square plug into a round hole. Business owners would do well to remember that, just because it is free does not mean it is good.
Ingage’s built-in tools to help you create polished presentations and offer analytics to measure their success. The cloud-based interface and collaborative Ingage Teams feature allow your staff to keep on top of the latest changes in real-time and perform their own adjustments as they need to. These assistive measures give your employees time to focus on the tasks that you employed them to do.
5. Foster A Culture of Mutual Respect
Respect matters. And when it comes to employee turnover, it really matters. With a Millennial-driven workforce that wants to make a difference and be heard, employers need to adopt a culture of mutual respect in the workplace. Allowing your employees to feel heard makes them feel valued. And staff members who feel valued are staff members who stick around, in good times and bad.
Establish an open-door policy when it comes to critique and complaints, and a reputation for actually listening to direct reports. Be sure to take action on suggestions—this shows staff that you hear what they are telling you.
But it’s not just about criticism. You want your workplace to celebrate the positive as well. Be open with giving praise and cultivate an environment that celebrates workplace milestones. Take time to learn about your employees' personal and professional goals. Get to know them as human beings, not just as the staff.
6. Make Sure The Work Matters
Employees want to know they matter. Knowing that they are making a difference can at times even be more important an incentive than the paycheck! This applies not only to the tasks they do within your organization but also to the service your company offers.
Developing a firm understanding of the company vision, mission and ethos promote buy-in. When your employees understand the benefits you provide to society, they achieve a deeper level of satisfaction in daily work. This satisfaction instills contentment and ‘stickability.’ Be a company that lets your employees know that what they do really matters.
Find A Sales Solution That Can Boost Your Team
A well-structured organization gives managers the space to manage, and employees the breathing room to focus on the job you hired them to do. It curtails the frustrations, monotony and boredom found in administrative tasks. When employees are able to focus on what they do best, they are able to grow their skills, feel empowered and be inspired.
Ingage’s cloud presentation solutions take the hard work out of managing daily tasks. Features like collaborative sharing, analytics tools and templates allow employees to create professional, slick presentations that they can feel confident in. If used smartly, advanced presentation software like Ingage serves as an excellent backbone for any company focused on the professional growth, health and wellbeing of its employees. Reach out to Ingage today to find out more and try a demo!