Erickson, Brown & Kloster, P.C. Newsletter for Thursday, August 12, 2021
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Is This Your Situation: Trying To Cut Down on Turnover

 

Turnover: Bakers love it, hiring managers can't stand it. Every time a talented employee leaves for greener pastures, you have to find a replacement. Posting on every job board, combing through applications and organizing rounds of interviews can take months. Then it takes even longer for the new hire to be onboarded and trained, and longer still for the team to get back to its usual speed. How can you make sure you go through the whole process as rarely as possible?

Make your office flexible

A big reason employees quit is that they can't work the required shift. Sometimes child care, elder care, commuting woes or other issues make it impossible to show up in the office every weekday morning at 9 o'clock. When that happens, work with your employees. Let them work remotely or work nontraditional shifts without too much red tape, and talk to them about what support they need.

Rethink your benefits package

For some employees, the health insurance you offer is as big a factor in their decision to take a job as is the salary. Offering excellent health insurance is a surefire way to keep those employees on board. For others, paid parental leave, sick leave or vacation time might be the deciding factor; so might tuition aid, child care or a company-matching retirement plan. However, don't overlook the value of smaller unconventional benefits, like free food and beverages or corporate discounts.

Promote corporate culture

In the era of remote and hybrid office spaces, it's important for everyone to know they're on the same team. Building team spirit takes more than the occasional pizza party or happy hour. It takes providing focused support and mentorship to every employee so that they know they can approach managers for any help or resources they need. It also takes having a clear mission and communicating it, and making sure every team member knows how their work supports the larger work of the company.

There are many factors that go into an employee's decision to switch jobs. However, any company can make exits rare if they support employees, provide excellent benefits and have a strong team spirit.

 
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Erickson, Brown & Kloster, P.C.
Erickson, Brown & Kloster P.C.
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Phone: (719) 531-0445
info@ebkcpa.com
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4565 Hilton Parkway Suite 101
Colorado Springs, CO 80907
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