Five Ways To Reduce Employee Turnover

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Five Ways To Reduce Employee Turnover

Every business that hires employees will experience employee turnover – it’s inevitable. For small retailers, minimizing employee turnover is an important aspect of managing your business because it costs you money every time you have to hire a new employee. Here are a few tips to help reduce employee turnover for your store.

Get It Right The First Time – Hiring the right employees is extremely important if you want to minimize turnover. You must make sure that the people you hire are a good “fit” for your business. What does that mean? If someone applies for a job at your paint store who is extremely over or under-qualified for the job, they will not be happy after they are hired. Make sure all candidates for employment are exposed to the culture at your store during the interview process. resumesMost people will instinctively sense if they will fit in and will remove themselves from the process if they are not a fit. You will also need to know if the person’s character and personality are a good match for you and your business, so asking behavioral questions during the interview such as the ones found here is a very important part of deciding whether someone will be a fit for the job and for your business.

Offer Flexible Hours – It has been estimated that 2/3 of all service employees are under the age of 35, and that about 3 in 10 service employees are between the ages of 19 and 25. Those Millennials value flexibility because they are often faced with hectic schedules involving school and possibly another job. If you can be flexible with your scheduling, it will go a long way toward their overall job satisfaction. Allow employees to have input about the days and the hours they will work. An employee who is satisfied with the schedule they work is much more likely to stay put.

Pay if Forward – Always offer competitive wages and benefits to your employees. The Millennials you will likely be hiring are the most “in-touch” generation the world has ever seen and are very informed when it comes to knowing what they are worth. If your wages and benefits don’t measure up to what they could earn elsewhere, they will be gone. If you don’t know what the going rate is for your industry, doing a little market research will go a long way toward keeping your employees happy. A good place to start researching wages is the U.S. Bureau of Labor Statistics,  and some ideas on common benefits offered to employees can be found here.

Offer Training – A well-trained employee is a happy employee, for the most part. Someone who knows how to talk intelligently about what they are selling will be more confident and will naturally be able to provide better customer service. Employees should always be well-trained on any equipment they are expected to use or operate during their work hours. If they can’t operate the equipment, they can’t sell the products. Employees who feel like they can’t converse with and answer questions from customers will not stay long – no one likes to appear incompetent at what they are doing.

empandcustomerCommunication is Key – Providing employees with clear expectations and feedback on job performance is an extremely important part of keeping them satisfied. A manager who provides these things in a fair and kind way to employees will earn their respect and loyalty. No one likes to be berated in front of others, so if you have a problem with an employee, always talk to them in private and offer suggestions about how they can improve their job performance. Also, a good manager knows that recognizing and rewarding success is one of the best ways to motivate employees. Bring in pizza or donuts, have a little celebration in recognition of milestones or goals reached. Encourage your employees to enjoy their job and have some fun while they are there!

Employee turnover is an inevitable part of owning a business. However, there are many things you can do to minimize employee turnover. Take some time to research what you can do to keep your employees happy and on the job -you will find that it will definitely have a good effect on your bottom line!