We have all heard that staff turnover is expensive. We have all heard that reducing staff turnover is good for the firm and good for morale and positive firm culture. Problem is, there is little in the way of specifics on exactly *how* to do all this. Accordingly, this is a “Leadership Moments” guest post from Beth Flynn at the Ohio State University Leadership Center that is precisely aimed at the ways that you can keep the staff turnover rate at your firm low:
- Provide opportunities for associates to grow and learn.
- Maintain associate ownership in the company.
- Create a warm, caring, and nurturing environment.
- Empower associates to take responsibility for their own work.
- Involve associates in the direction of the company’s growth and management.
- Expect top performance.
- Let associates know when they perform well and when the need to perform better.
- Attempt to reduce the stress level by promoting a healthy lifestyle.
- Seek out customers and clients who share the same belief system.
- Be an open-book company. Share company financial information (except specific individual salaries).
- Share the vision of the company.
- Treat associates with respect and compassion when personal tragedies impinge on work responsibilities.
- Pay associates the best salary possible based on the financial performance of the company.
- Take great care in hiring, always taking attitude and character into account.
From: Heath, R. (2009) Celebrating failure: the power of taking risks, making mistakes and thinking big . Franklin Lakes, NJ: Career Press. Celebrating Failure is available on loan from the Ohio State University Leadership Center. Click here to borrow this resource or any other resource. Then click on the Spectrum http://leadershipcenter.osu.edu
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Thanks Beth for great leadership tips on keeping our turnover low!