Edmonton Business Consultant | Reducing The Impact Of Employee Turnover
Entrepreneurs often believe that they have done something wrong when they start losing people in their business says Edmonton business consultant. However, employers need to understand that turnover in business is a normal part of operating a company, and rather than taking it to heart and starting to note themselves or their company, entrepreneurs should work to reduce the expense of transition in their business.
Business owners should understand that no matter how great the relationship is with their employee, that staff are going to leave whenever the timing is best for them. Circumstances out of the employeeís control, and definitely out of the businesses control can happen at any time. Rather than wondering where they went wrong, business owners should focus on ensuring they can carry on their business without having a huge impact on it. Edmonton business consultant recommends that entrepreneurs always have two people familiar with any job within their company, which allows the business to ensure that if any person leaves that job can continue to get completed.
Another way that entrepreneurs can ensure that they are minimizing the effect that employee transition has on their business, is to always be recruiting. Once a business hires their first employee, they are going to always need people, so if business owners get into the habit of always be recruiting people for their business, they can be proactive and ready for the time that any of their staff members leave.
Edmonton business consultant recommends that one way that entrepreneurs can ensure that they are attracting the right people to their business, is to incorporate the companyís values into the interview process. Not only should they be communicating the values, they should ensure that their values are not written to please everyone. If company values appeal to everyone reading them, a business owner may find that they are not adequately filtering out the wrong people. However, if a business is corporate values do not appeal to every single person, they will find that people who are not the right fit will hear about the values and decide they do not want to work there. Entrepreneurs should understand that is considered a success, that they do not have people that will not be a good fit applying for the job.
Something else that entrepreneurs should keep in mind when they are recruiting for people in their business, is that salary and wage are not the most important factor in attracting and keeping employees. Edmonton business consultant says that if wage was the most important factor, there would be no people working for charities or nonprofits. People work for organizations that they believe in, which is why their people who also volunteer their services for free for charities that they love. Being able to effectively communicate the values of the corporation will ensure that people who share the same values will be driven to work for your company.
Entrepreneurs should understand that attrition is always going to be a part of their business, and rather than taking it hard, they should do it they can to attract the right people, and minimize the transition period
While many entrepreneurs understand the high costs of losing employees, Edmonton business consultant says there is nothing that a business owner can do to ensure that they always keep all of their employees forever. Business owners should do what they can to increase the retention rate of their employees while understanding that staff members leaving is always going to be a part of their company.
Employees will tend to leave the organization when the timing is best for them, and not best for the company. And no matter how employees and employers feel about each other, there is always reasons why employees may choose to leave the organization. They may get sick, their spouse might get transferred to another city, rather than lamenting the fact that they have staff leaving, business owners should focus on reducing the effects of transition in losing one employee and recruiting another.
Something else that entrepreneurs should consider, is that the one thing that has a higher cost to losing an employee, is actually keeping the wrong one. Edmonton business consultant says if an entrepreneur has an employee that is delivering subpar performance over a long period of time, that maybe even more expensive then losing an employee to begin with. The reason for that is the wrong employee in the business can be demotivating and can also drive away the good staff members. With the larger cost of having the wrong employee, entrepreneurs should focus on not just reducing the impact of transition, but attracting the right staff.
Something that business owners can utilize in their business in order to ensure that they are recognizing the great behaviour that they want to encourage in their business is to eliminate annual reviews. Edmonton business consultant recommends that in place of annual reviews, business owners set sometime aside every single week in order to have more regular one-on-one time with employees, where they can congratulate hard work and reward good behaviour as soon as possible, while addressing any struggles that employers are having, or correct problematic behaviours as soon as they surface, in order to stop the behaviours before they become a problem.
By working in their business to ensure business owners have the right staff members, always be working to minimize the effect of transition on their business, and having regular reviews to reward good behaviour and addressed struggles early, business owners can work to have the best staff for their organization. Edmonton business consultant says this should be the goal of every business owner, that they work towards having the best staff they can, while understanding that even if that changes over time, they will have systems in place to ensure that they can always be looking for the best people for their business.