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September 2016
Issue Map
September 2016
The Buzz

Combating Turnover

Wednesday, September 7, 2016

Lowering turnover is a major concern for most companies, especially in an age when the workforce seems to be growing more fluid. However, to effectively reduce turnover rates, an organization has to deal with some hard truths and be ready to explore what it's doing wrong. One of the biggest reasons employees leave is ineffective or dysfunctional management. According to studies, around 30 percent of the workforce says they would rather have a good boss than a $5,000 raise. Another major problem that causes turnover in many organizations is that employees are not given a clear development path. Research shows that Millennials are especially concerned with personal and professional development, and are more likely to leave if an organization can’t demonstrate how it will help the employee grow. Another element that can cause turnover is not thinking outside the box when it comes to employee perks. While not every organization has a massive budget for these, there are several perks an organization can offer that won’t break the bank. Something as simple as a bring your dog to work day can shift employee opinion, and might be the deciding factor for whether they will stay or leave. 

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