Question

In: Accounting

Employees are the company’s most important resource. How can a company retain its staff and decrease...

Employees are the company’s most important resource. How can a company retain its staff and
decrease the turnover?

Solutions

Expert Solution

The following steps helps in the reduction of employee turnover and retain them

  • Provide the employees with a safe working environment
  • Provide them with flexible schedules
  • Recognise their efforts and appreciate them
  • Offer them with timely incentives and promotions
  • Respect their suggestions and opinions
  • Provide them with training and sessions which would contribute to both individual development and business growth
  • Organise stress buster sessions and activities periodically
  • Employees may be sent on rotation to other departments to avoid boredom
  • Give them team assignments so that they build a good relationship with their colleagues
  • Provide them with platforms for easily communicating with the superiors
  • Provide them with transport facilities while working late
  • Provide them with an option to work from home when they are not in a position to travel to the workplace
  • Provide them with an attractive salary package
  • Motivate them to improve upon their skills

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