5 reasons why your company may have a high staff turnover

“High Employee turnover sucks knowledge out of companies.” Teradata- A division of data warehousing company NCR Corp

A high staff turnover isn’t great for any business. Losing vital members of staff is likely to reduce morale, decrease productivity and significantly increase the amount spent on hiring and training new employees.

Although the problem could be industry related, there are some internal factors which should be considered.

1. Progression

Many people seek some form of advancement, the opportunity for promotion and/or a pay rise. Companies that don’t provide any of these things are more likely to have a higher turnover

2. Support

Being thrown it at the deep end may have its pros. However many employees entering into a new job appreciate adequate training and continued support as they ease into their role. It’s important for employees to know what is expected of them and for help to be provided when needed. Introducing performance appraisals may also be a good idea.

3. Environment

No one wants to work at a place with bad energy. We all know that negativity can easily spread and significantly reduce productivity in a workplace. Making sure employees are well motivated and bonding well as a team/s should be a top priority.

4. Values

Employees are more likely to stay longer with a company that has values they respect. If staff members feel undervalued, undoubtedly, they’ll move on. Similarly, if the company is acting unethically, staff may feel embarrassed to be associated with the company they’re working for.

5. Money

If people aren’t being paid enough and can get more money for doing the same role elsewhere then they’re probably going to leave. And if there’s no hope for a pay rise, despite inflation, employees may well start to look elsewhere, especially If there are problems in other areas too.