March 22, 2014
Annotated Bibliographies
Heathfield.Susan.More Tips to Reduce Employee Turnover.About.com. http://humanresources.about.com/od/retention/a/turnover_tips.htm
Some of the ways to help reduce employee turnover rate are:
Making sure that you have the right employees, by first placing them through behavior-based testing ; along with competency screening
Hire people that can almost work in any position of the company.
Offer an attractive, competitive, comprehensive benefits package with components such as life insurance, disability insurance and flexible hours.
Have training sessions to give people the opportunity to share their knowledge on the job. Employees like to share what they know; the act of teaching others ensures the employee's own learning.
Show employees that you respect them at all times, by listening to them deeply, use their ideas; never ridicule or shame them.
Offer performance feedback and praise good efforts and results to reduce employee turnover.
Make work fun. Engage and employ the special talents of each individual.
Involve employees in decisions that affect their jobs and the overall direction of the company whenever possible. Involve them in the discussion about company vision, mission, values, and goals. This strategic framework will never "live" for them or become "owned" by them if they merely read it in email or hanging on the wall.
Recognize excellent performance, and especially, link pay to performance to reduce employee turnover. Your key employees are motivated when their above-average efforts are recognized and rewarded.
Staff adequately so overtime is minimized for those who don't want it and people don't wear themselves out.
Provide opportunities within the company for cross-training and career progression. People like to know that they have room for career movement. This is a serious deterrent to employee turnover.
Bares.Ann.(2013).2013 Turnover Rates by Industry.CompensationForce.