Monday, May 22, 2017

How to Improve Employee Turnover

Turnover is a huge issue at companies.  On average it costs between 30-400% of the annual salary per employee depending on the salary and skill level.  One way to guarantee high turnover is to follow the policy of "beatings will continue until morale improves" and give people the feeling of this even if the words are not literal.

If you have good people at your company and they are not meeting their goals, check for a few things before you make them feel bad with negative feedback.

a.  Are the goals too high and/or unachievable - if so lower them
b.  Does the collaborator have a good reason for not meeting the goals - if so find out what it is
c.  Is there a skill or will issue going on - if its skill, train them and if its will, help them to motivate themselves by finding out what is behind the will issue and helping them

The best cure for dealing with morale issues with good people is to find them doing things right and praise them.  Praise the effort and you better guarantee the result.  If "beatings will continue until morale improves" is part of your corporate culture, get some professional training and support as it is costing you too much not to (on the people and profit front).

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