It can be hard for organisations when talented employees leave, not only do they lose the income that come from their high fee earners but it can also have a big impact on your existing staff’s moral.
The team at LR Legal have worked in recruitment for over 12 years and we talk to frustrated employees every day – so we’ve got a pretty good idea what you can do to reduce your staff turnover. Here are a few things to bear in mind…
Look for ‘red flags’
Watch your employees carefully; it’s well worth your time to make sure that main fee earners are happy and not interviewing elsewhere.
You can usually tell if your employees are looking elsewhere when they are out of the office at odd times, going outside to take calls and even calling in sick last minute.
At this point it would be a smart move to take your employee aside and ask them how happy they are in their job, and is there any way you could provide them with more job satisfaction.
Talk to people
At least once a quarter, it is advisable to have an informal one-on-one review with your highest achievers, just to ask if they are satisfied with their job or if they are frustrated with anything in their working environment.
It’s better to have one open conversation and allow the employee to vent their concerns in a constructive situation, rather than the staff member complaining about their issues around other staff.
Providing an environment where employees feel comfortable giving feedback on their job and you as an employer acting on it where possible is key to controlling staff turnover.
Offer financial rewards
It is easy to understand why someone who performs exceptionally well and does not receive any form of praise for the task would get frustrated and consider moving elsewhere, especially if this happens over a long period of time.
So, if you can afford it, provide meaningful annual raises so that your employees feel as though you value their work.
Alternatively, to avoid being fixed with an expectation of a permanent increase, form a bonus structure system in which employees earn an annual bonus for meeting specific targets.
Sometimes money is not the problem
An individual’s reasons for leaving a company may not be 100% about salary; it may be simply because they are not being challenged in their current role and lack career progress.
Therefore when an opportunity to further their skills opens up, the chances are they will be out the door as soon as they can.
To avoid losing your staff out of boredom, why not challenge them more? This doesn’t mean you can pile all your work on to one poor soul, but maybe you could give harder tasks to the best employees.
As you can see, there are a few simple ways that you can make your employees work life more enjoyable and enriching. Of course hiring the right staff for the right role in the first place will undoubtedly help reduce overall staff turnover, but sometimes this isn’t always the case.
If you are concerned that your staff turnover is a little high and you’re worried that workers are at risk of jumping ship, then considering these tips and we think it’ll have a significant impact.
If you have recently lost some talent in your organisation and are looking to replace them, then why not get in contact with our friendly and professional team on 0208 464 2503.
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