Minimising staff turnover and recruitment

The workplace is changing.  It has become increasingly difficult to find highly skilled people who remain committed and loyal to your business over an extended period of time and the cost of sourcing and recruiting the best staff has risen.  It is for this reason that it is important to dedicate resources to help retain staff so as to minimise employee turnover in your workplace. 

It is often the case that the businesses which have motivated and dedicated staff usually have a competitive advantage in the marketplace.  As a general statement it seems that businesses who orchestrate regular training and learning opportunities for their staff naturally have lower staff turnover and thus a reduced need for recruitment. 

Employees who receive ongoing training are usually more likely to commit to their employers because they are offered greater responsibilities, a larger salary and an ability to further their career.  For your franchise to grow in the competitive market you will usually find that there is a need to provide opportunities for your employees to learn and grow.

As a manager and owner of your own real estate franchise it is important to realise that short term incentives to keep staff interested are not always the solution to extended staff retention.  Providing your employees with a clear direction as to how they can progress through your franchise and what future opportunities they will be able to strive for can go a long way in minimising staff turnover.      

In order to maximise the investment you make in staff training and education, it is also important to convey a sense of appreciation and respect to your employees.  People enjoy working when their employer has confidence in them and can offer them flexibility and non-monetary rewards for their efforts and loyalty.  Working toward improving staff morale and attitudes can assist in maintaining high staff retention in your workplace, often offering you a greater competitive advantage in your local area.

It is common for managers to resist investing money in employee training programs for employees for fear of future resignation by their staff.  However it is important to realise that employees leave companies for a variety of reasons.  To help minimise turnover it is essential that you conduct thorough exit interviews as well as regular staff reviews.  Listening to and understanding the expectations and views of current and past employees are important for the success of your workplace as a whole.

The second part of the equation is improving your methods of recruitment, ensuring you end up with the best people for the job.  Prior to recruiting a new member of your team, you should consider revising your structure and needs for this role.  Take the opportunity to update the position description ensuring you offer clear criteria in order of importance.  This will not only help applicants better understand the role, but will also assist you to score candidates during the interview process. Having an efficient recruitment process in place allows you to make quality decisions quickly.

There is no doubt that employees are the most important people in your business as they dedicate themselves to looking after your clients and maintaining the reputation of your franchise.  Recruitment is an expensive and time consuming exercise, so help yourself by retaining and developing your current workforce.

Posted by George Tarbey on 18/01/2011 at 11:19 AM | Categories:


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