What is employee attrition and why is important for any organization to consider?
Losing a core employee is always bad news for any company. As an HR manager, you know very well that when an employee leaves, it becomes a costly affair for the organization. Because, in order to find, onboard, and train a new resource involves considerable cost and effort. And this can be a pain for any organization if the attrition is happening at a higher rate. This is why addressing the attrition rate is a key concern for all companies. There are countless ways by which an HR Manager can reduce multiple headaches caused by employee attrition. In this blog, we will be discussing them.
Strike a balance between recruiting and retention and you will retain a happy workforce. Success is sweet but even more delicious with a satisfied workforce!
Let’s see some of the statistics about employee attrition
We all know how scary employee attrition can be. And it gets way too scarier when the statistics enter the play. Let’s look at some.
Tips to deal with employee attrition
Don’t worry about the data given above. Because we’re giving tips so that you can reduce the attrition rate in your organization to a significant number. Let’s read on…
1. Introduce employee benefits programs
If an organization lacks in providing basic employee benefits to its employees, it becomes the major cause of attrition. Because when there is a high level of employee dissatisfaction, employees don’t show their productivity to the best. Looking at the data facts which we provided in the above infographic, we clearly know that if an employee doesn’t get what he or she expects, then they try looking for switching. And especially in this post-pandemic world, employee wellbeing is a critical matter.
If you’re thinking about how exactly you can implement healthy employee wellbeing programs in your organization, then you’re at the right place. WorQ’s DASH is an employee benefits and financial wellness platform that is trusted by lakhs of users. It helps in building long-lasting connections between your company and your employees. DASH provides a personalized and exclusive benefits portal for products and services for your employees which helps in ensuring employees’ wellbeing.
2. Implement training and developmental programs for employees
When an employee joins an organization, he/she expects that the company will provide them with the necessary training and development programs. That is why it is very important to create such an atmosphere of learning & development for all the departments. The employees need it to upskill and become more skilled in their corresponding fields. However, if a company fails to do the same then an employee might feel disappointed and less motivated to work. Implementing a robust L&D program into your organization will surely increase employee attrition.
If you’re worried about how exactly you can implement an L&D program into your organization, then worry not because WorQ can make it easy for you. How? WorQ’s Grow is a Digital Learning and Development Platform that enables an organization to provide custom skill development programs for its employees via digital classrooms available in both app and website versions. With its easy-to-use interface, Grow is a time and cost-efficient solution for L&D Managers. It improves productivity and engages candidates and helps in reducing the attrition rate.
3. Improve employee engagement to know the well-being of your employees
We know as an HR manager, you have a huge amount of responsibilities on your shoulders. From managing employee wellbeing to onboarding new staff, and gauging employee engagement rates, there are a lot of activities on your plate. Isn’t it? All this can be a little overwhelming if you’re not collecting and managing it in the right way. That’s why you need surveys. And as an HR manager, you need surveys in order to build strong employee engagement in your organization. Because without gauging the well-being of your employees, you cannot take future decisions which may impact your business. WorQ built-in “survey feature” provides you a fun way to boost your employee’s performance. It helps you in collecting employee daily mood feedback and calculating happiness scores to analyze your organizational issues so you can build a culture of transparency and trust.
4. Offer flexibility at work to increase productivity
In the current times, employees seek a flexible work environment. Working from home, remote work, flexible timing, and different types of leaves — all of these help in increasing employee satisfaction, and reducing attrition at the same time. Mangers these days have realized that providing flexibility does not mean a loss of control over employees. Because a flexible workplace reflects that the managers trust their employees more to get their work done. WorQ provides plenty of employee productivity features like task management, route management, shift management, and digital supervisor. With these features, you can totally enhance the productivity of your team regardless of where they are working with ease.
5. Provide a positive workplace environment
We know very well that employees do spend a lot of time at their workplaces. That is why it is extremely important to build such a workplace where your employees will feel positive and would love to be there every day. An ideal positive workplace environment should have a space for socialization, collaboration, and fun. When you provide such a workplace to your employees, they feel more connected, safe, and comfortable. And then the employees add positive productivity for the organizational overall growth.
Ready to reduce the employee attrition rate in your organization?
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