5 Simple Tips On How You Can Reduce Attrition

F

ear guides our daily actions. This remains true for most HR managers as well. Fear of acquiring the wrong talent, fear of conducting unsatisfactory appraisals and most of all the fear of losing trusted employee of the company.

Attrition is the paramount challenge that almost every HR Manager has to deal with at some point in their career. Many believe attrition to be an inevitable part of a company’s growth path. However, when the issue of attrition is ignored for too long the organization may find itself without a productive and motivated workforce. An unproductive workforce eventually leads to high costs of acquiring talent as well as retaining them.

Reasons for high attrition are usually because of a non-nurturing work environment that not only stifles an individual’s career growth but also hinders personal skill development. The trend of micro-managing employees is common in India’s work culture and this is something the new generation does not find very attractive in employers. Freedom at the work place is coveted so much that employees would easily be willing to leave a well–paid corporate job for a promising start up.

Attrition therefore is traced back to the organization’s culture. Getting the company’s culture right will help retain your best talent.

Here are 5 easy tips to reduce attrition-

1.  Conduct Effective Exit interviews

Learning to conduct exit interviews is a crucial step that all HR managers must take to understand the problems the employees face in the organization and truly make sense of why the employee decided to resign. An exit interview with all your ex-employees may be the easiest way to locate the root cause of the issue and figure the best way to tackle it.  You can read more about dealing with resignations effectively in our related blogpost.

2. Recognize And Reward Your Best Employees

Employee incentives are one of the more common techniques used by employers to retain their best talent. Offering bonuses on basis of the performance is a common trend although many have been known to do away with monetary bonuses. Employees need rewards that would add value to their careers and could be added to their list of achievements in their resumes.

3. Introduce Flexibility At Work

Strict check in timings at work almost seems archaic now with most companies adopting the flexible work schedule where employees can fix their schedule accordingly. This leaves employees with a sense of freedom that can help employees take ownership and feel much more relaxed at work.

4. Train Your Managers

As clichéd it may sound, there is some truth in the old saying, “Employees don’t leave organizations; they leave managers”.  Understand the relationship your employees have with their managers. Make sure your managers are approachable and treat their subordinates with respect. A nurturing relationship between a manager and his/her team-members is a building block to a healthy working atmosphere.

You can also develop a mentorship program to foster healthy communication between your employees and their mentors.

5. Encourage Social Connections At Work

On an average, Indian employees spend over 8-9 hours per day at work for about 5 days per week. Most employers do not always encourage friendships at work because it may seem as a distraction. However, research shows that employees that have healthy relationships with their co-workers are more likely to stay loyal to an organization.

Encouraging healthy social connections at work helps you create a friendly work environment and helps retain your best talent.