What do you think the best way to decrease TURNOVER?

High employee turnover hurts a company’s bottom line. Experts estimate it costs upwards of twice an employee’s salary to find and train a replacement. And churn can damage morale among remaining employees.

Here are some ways to lower turnover in your workplace:

– Hiring the right people from the start, most experts agree, is the single best way to reduce employee turnover. Interview and vet candidates carefully, not just to ensure they have the right skills but also that they fit well with the company culture, managers and co-workers.

– Setting the right compensation and benefits is important too. Work with human resources to get current data on industry pay packages, and get creative when necessary with benefits, flexible work schedules and bonus structures.

– Review compensation and benefits packages at least annually. Pay attention to trends in the marketplace and have HR update you.

– Pay attention to employees’ personal needs and offer more flexibility where you can. Consider offering telecommuting, compressed schedules or on-site or back-up day care.

– Bolster employees’ engagement. Employees need social interaction and a rewarding work environment. They need respect and recognition from managers, and a challenging position with room to learn and move up.

– Managers often overlook how important a positive work environment is for staffers, and how far meaningful recognition and praise from managers can go to achieve that. Awards, recognition and praise might just be the single most cost-effective way to maintain a happy, productive work force.

Simple emails of praise at the completion of a project, monthly memos outlining achievements of your team to the wider division, and peer-recognition programs are all ways to inject some positive feedback into a workforce. Also, consider reporting accomplishments up the chain. A thank you note to the employee is good. Copying higher-ups makes that note even more effective.

To make it easier to identify accomplishments, ask your team for weekly or monthly updates of their achievements. Ask for specific numbers, examples or emails of praise from co-workers or customers.

– Outline challenging, clear career paths. Employees want to know where they could be headed and how they can get there. Annual reviews or midyear check-ins are one obvious venue for these discussion, but you should also encourage workers to come to you with career questions and wishes throughout the year.

Judging, monitoring, mapping employees needs and wants would help in gathering information. MASLOW theory of needs is a helpful tool to do so. Based on the data designing of a strategy for motivation and job security would lead to more prosperous results.

by know fact why them leave co.

put a good salary and system

organize work

respect all employee

i fully agree with the answers been added by EXPERTS..................Thanks.

Thank you for the invitation ... I would agree with Mr.  Vinod's answer as well as others who have really covered your question .. Nothing to add !

Appreciate your invitation ,

You need to decreasing the turnover , so you need to answer the next questions :

• Does your organization salary level equal what existing in the work market in your region ?.
• Do you rewarding your employees ?
• Does your organization contain a clear objectives?
• Did you put a clear goals for every single employee inside your organization ?
• Did you exclude a bad - lazy - inactive - unproductive employees , and encourage the active one ?.
• Do you train your employees and put a good strategies to improve their skills?.
• Do you gathering them (your employees) and listen to their problems and what bothering them , and try to solve it?.
• Did you ever try to commissioning them when they achieved their goals?.
• Did you ever try to tell them (Thank you , Can i help you , Appreciate your efforts, You can do it , i trust you , ..)?.
• Did you ever try to unite them on one abject , and share with them your organization goals?. 

Try to apply these questions on them and you will never lose anyone of them. When they feel that they belong to big family called (YOUR ORGANIZATION) they will not leave it

Regards