skip to Main Content
Fueling the Future in Finance Through Superstar Talent
How To Avoid High Employee Turnover

How to Avoid high employee turnover

High employee turnover can snowball before you know it.

Just a month ago, Joe quit, then Brian gave notice a week later, and now Jennifer is leaving too!

The team is a ghost town. But work still needs to get done and the buck stops with the manager.

Sound familiar?

I just read a CNBC article in which an NYU Psychology Professor states that most exit interview feedback is BS.

Doesn’t mean you shouldn’t do them, but it suggests a high degree of difficulty in determining the reasons for high employee turnover, since “There is a strong norm against clear honest and critical feedback in most organizations.”

Hiring managers and talent acquisition pros, if your company or team is suffering from a revolving door of employees, you MUST get to the bottom of it.

Or it will continue to cost you dearly in direct hiring costs, productivity, morale, reputation, and personal career progress.

I suggest you start digging for intel with the team members you are still retaining:

➜Develop better relationships with each team member – increase the know, like, and trust factors. Create a safe environment for feedback to be expressed.

➜Spend more one-on-one time inside and outside the work setting. Introduce lunch with the manager days to take the working relationship to another level.

➜Ask better and more specific questions; For example, rather than “how are things going”, one of the first questions I ask any candidate in our initial conversation is, “what are the 3 to 5 things that could be substantially better about your current situation?”

➜Keep your ear to the ground; solicit feedback from other leaders in your organization, watch and listen carefully to interpersonal dynamics at meetings, pay close attention to friction and pain points within your team’s workflow.

Take action now so you can begin to see patterns and ferret out barriers to satisfaction within your team. This will arm you with the information needed to make improvements and drastically reduce high employee turnover.

If you need help overcoming a previous history of turnover, check out our Source Strategy, in which we help tell your story in a way that will attract top performers.