By Sara El Kareh
Profits in companies that offer their employees low turnovers are higher than those of companies with high employee turnovers by four times. In fact, turnovers have a great effect on employees’ performances. Employees that leave the companies are mainly the experienced ones and are hard to replace. Experiences similar to those they have acquired are hard to find in a short time.
In fact, turnovers are considered to be essential for companies because they get rid of all the weak performers and bring in new and fresh insights and ideas. However, it is only beneficial when the turnover is at a low rate, since when it gets too high, the costs will become more than the benefits.
According to researches, turnovers are in general not a positive thing. When turnover increases, the performance of employees decreases. However, not all high turnovers prove to have negative effects, while it has been found that there are some interesting points in the whole procedure.
High turnover reached more measures than others
Turnovers of an employee have an effect on performance metrics more than others:
- Effects were revealed most in the satisfaction of the costumers and the customer.
- Poor effects were found in the financial performance, attitude and productivity of employees.
- Effects were larger when the performance was measured after a short time following the turnover, rather that after a longer period of time.
If you have a knowledge critical business, you must know that the turnover is nothing but a negative thing. Therefore, you need to find some ways in order to decrease the turnover of an employee. Try the following:
- Employees are not only working to help you out in reaching your expected numbers. Make sure you build very good relationships with them.
- Show them that you appreciate their hard work. Be rewarding. When they show great performance, let them know you’ve noticed it and show them how thankful you are. It can be a simple Thank You note.
- Always give notes and feedbacks. Your employees should realize that you are following and evaluating their performance constantly. Teach them how to do better and how to reach better performances level in the future.