How to make your team want to stay in your business
No company wants a reputation of having a high employee turnover. Fact. Not only does it become a time-consuming and costly affair of constant recruitment and re-training, but it’s also a strong sign that something is not fundamentally right inside the business structure.
According to Monster, the average employee turnover rate in the UK is 15% per year. However, this figure can vary dramatically between different industries, with retail, catering, call-centres, construction and the media industry all suffering with the highest employee turnovers. But why?
People resign for many different reasons. And, rarely it’s just about the money. Sometimes, it’s the pull of an exciting new job with more responsibility, a re-location of the family home, or just a change in circumstance. But, sometimes it’s more of a push, with people handing in their resignation letter because of boredom, poor relationships, poor health, frustration or lack of opportunity.
As a manager, supervisor or team leader, it’s your role to coach your team to success and happiness. With great power, comes great responsibility. It’s no longer just about getting work delivered in a specific time frame and to a particular budget – it’s about creating a holistic working environment. Empowering and nurturing employees to be the best versions of themselves so that they will want to do their best and most importantly, want to stay. But, how?