Charles G
17-08-2009, 01:42 PM
As we all know, high staff turnover is a problem for many organisations in Australia (and around the world). In past generations, it was normal for people to be at the same job for 10 – 20 years. These days, its more common to see employees move from one role (or company/organisation) to the next in a matter of years.
According to the AIM 2009 National Salary Survey, the top 4 reasons for employees taking on another job role were:
1. New challenge
2. Insufficient Financial Reward
3. Conflict with Staff/Manager
4. Limited career advancement opportunities
Whether its for a new challenge, more money or conflict in interest, it seems like the grass is always greener on the other side.
Here are some tips/suggestions that may help with the reasons above:
1. New Challenge:
a. Allow your employees to grow within the company by giving them more opportunities (eg. Involvement in other projects/teams)
b. If internal opportunities are exhausted, allow them to move outside of the company, but keep the options open for them to come back if they choose
2. Insufficient Financial Rewards
a. Make sure your paying your employees’ the same as what everyone else is paying theirs (i.e. market rate). Better yet, make it higher!
b. Offer your employees a performance based pay portion to their salary
3. Conflict with Staff/Manager
a. Make sure that you have effective workplace conflict resolution practices
b. Its also a good idea to review them on a regular basis
4. Limited career advancement opportunities
a. Involve or provide employees the opportunity to get involved in projects outside the scope of their job. Example, a cross functional committee that aims to minimize company costs.
b. Encourage employees to seek opportunities outside of work to gain industry experience/knowledge. Encourage them to go to conferences, or join industry organisations. Ask them to relay/present what they have learned to the rest of the company (if relevant to rest of the org.)
Motivation is the key to keeping your staff. Can anyone think of some other tips?
On the other hand, not all employee turnover is bad. Is it? Here (http://www.ere.net/2009/04/06/not-all-employee-turnover-is-bad-celebrate-losing-the-losers/) is an interesting article about the different types of turnover.
-Charles
According to the AIM 2009 National Salary Survey, the top 4 reasons for employees taking on another job role were:
1. New challenge
2. Insufficient Financial Reward
3. Conflict with Staff/Manager
4. Limited career advancement opportunities
Whether its for a new challenge, more money or conflict in interest, it seems like the grass is always greener on the other side.
Here are some tips/suggestions that may help with the reasons above:
1. New Challenge:
a. Allow your employees to grow within the company by giving them more opportunities (eg. Involvement in other projects/teams)
b. If internal opportunities are exhausted, allow them to move outside of the company, but keep the options open for them to come back if they choose
2. Insufficient Financial Rewards
a. Make sure your paying your employees’ the same as what everyone else is paying theirs (i.e. market rate). Better yet, make it higher!
b. Offer your employees a performance based pay portion to their salary
3. Conflict with Staff/Manager
a. Make sure that you have effective workplace conflict resolution practices
b. Its also a good idea to review them on a regular basis
4. Limited career advancement opportunities
a. Involve or provide employees the opportunity to get involved in projects outside the scope of their job. Example, a cross functional committee that aims to minimize company costs.
b. Encourage employees to seek opportunities outside of work to gain industry experience/knowledge. Encourage them to go to conferences, or join industry organisations. Ask them to relay/present what they have learned to the rest of the company (if relevant to rest of the org.)
Motivation is the key to keeping your staff. Can anyone think of some other tips?
On the other hand, not all employee turnover is bad. Is it? Here (http://www.ere.net/2009/04/06/not-all-employee-turnover-is-bad-celebrate-losing-the-losers/) is an interesting article about the different types of turnover.
-Charles