6 Strategies to Reduce Employee Turnover (2024)

In 2018, 41.4 million U.S. employees left their jobs to work for another company.¹ The job market is saturated with candidates, but hiring employees isn’t as easy or affordable as it once was. As a result, employers need to find a way to minimize employee turnover. HR managers face the challenge of finding high-quality applicants and ensuring they retain top talent.

Find the Right Talent

Every company has a different hiring process. How can you ensure yours is thoughtful and selective? When you hire employees who have the right skills, but also align with the cultural and behavioral beliefs of your organization, you may be more successful. One tactic is to ask behavioral interview questions to identify a candidate’s personality and character. For example, you can ask an interviewee how they handled a sudden change in their routine and what they learned from it. Their answer can give you valuable insight into their personality.

Encourage Retention Early On

Many experts believe that retention efforts should begin on an employee’s first day of employment. However, only 12% of U.S. employees strongly agree that their company does a good job of onboarding new employees.² With an MS in Human Resource Management, HR professionals may be able to refine and improve the onboarding process. One benchmark for successful onboarding should be giving new employees a clear understanding of the company’s mission and how they can help add value to the organization.

Recognize and Reward Employees

Your employees need recognition and appreciation. This could be encouraged with thoughtful human resource training of each people manager. Happy employees are on average 12% more productive than unhappy employees.³ When your employees do something to go above and beyond, give them the congratulations they deserve. Creating a positive work environment allows employees to thrive, feel acknowledged, and stay motivated.

Identify a Clear Career Path

Part of recognizing and rewarding employees involves promoting and investing in current personnel. Don’t allow your employees to feel like their position is stagnant. Otherwise, they may start to pursue other opportunities. Encourage managers to schedule regular meetings with their team to discuss their goals and how the company can help them achieve their goals.

Encourage a Healthy Work-Life Balance

According to one survey, 57% of people report benefits and perks were one of their top considerations before accepting a job.⁴ Offering unique perks like unlimited employee maternity and paternity leave for the first year of a child’s life or a stipend for annual travel may help employers stand out. The ability to utilize flexible work schedules and environments can also prove to be beneficial.

Create Learning and Development Programs

Learning and development helps improve employee morale and benefits the organization. Companies can establish clear learning and development protocols and give their employees the opportunity to pursue areas that interest them. For example, offer a budget to attend a conference or class annually. For these programs to be successful, you need to ensure the criteria is clear, fair, and widely understood by employees.

HR professionals have the unique opportunity to help shape an organization by hiring the right people. Finding employees who not only have the right skills, but are excited about the organization’s mission is imperative. If you’d like to improve your skills as an HR professional, focusing on your education might be the answer.

When you earn a master’s in human resource degree online, you get to choose when in the day you attend class, which makes it possible to fit your studies around your work schedule. Additionally, an online MS in Human Resource Management program makes it possible to take your courses right from home or from anywhere else you have internet access.

Walden University is an accredited institution offering an MS in Human Resource Management degree program online. Expand your career options and earn your degree using a convenient, flexible learning platform that fits your busy life.

¹Source: https://info.workinstitute.com/hubfs/2019%20Retention%20Report/Work%20Institute%202019%20Retention%20Report%20final-1.pdf
²Source: www.gallup.com/workplace/235121/why-onboarding-experience-key-retention.aspx
³Source: www.fastcompany.com/3048751/happy-employees-are-12-more-productive-at-work
⁴Source: www.glassdoor.com/blog/glassdoors-5-job-trends-watch-2016/

Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.