These Are The Types of Turnovers You Can Prevent

In most cases, turnover is a regular thing and people have their own reasons to leave. You cannot control some of these turnovers, but there are other situations in which you CAN prevent turnovers.
 

1. When someone is in the wrong role

Sometimes, we hire an employee who fits with the company culture, but they struggle at their tasks even though they have received great training and support from their supervisor.

Chances are, we hired the right people who are in the wrong job because of a mismatch between the essential duties of the role versus their interests, skills, and talents.

How to fix it:

Start encouraging your employees to talk about the changes they want, and make listening a priority.

Once employees say they want to move to a new role, be honest and tell them what you can and can’t do to help. Sometimes, an employee wants to move to a different team within the company. If there’s a business need for what they want to do, and they have the skills, then you just need to develop a transition plan. If not, be honest with them so they can figure out their next step.

Having open and honest discussions with employees about their development can encourage them to stay with your company.

2. Managers are hoarding talent?

Hiring internally across different teams should be a normal practice. If you think that transfers don’t always happen at your company, it might be because your managers are hoarding talent.

Hoarding talent refers to when managers prevent their top talent from leaving the team, forcing them to remain longer than what is good for employees and the company.

When top performers don’t have the mobility, they are likely to flee.

How to fix it:

Recognise this behaviour in your managers. They tend to under-rate top employees and telling them “close but not quite ready” for the next position.

If this is the problem that you have, you can stop rewarding bonuses to managers based solely on their team’s performance and reward them based on their ability to cultivate talent that stays within the firm.

3. When top performers are underpaid

When top-performing employees are underpaid relative to the market or feel like they’re not rewarded appropriately for their accomplishments, they are especially likely to quit.

How to fix it:

First, benchmark your positions to the market. Set aside a fund for making market-based adjustments for all positions. Make sure your pay ranges are in sync.

To set pay based on performance or results, create clear criteria on what it means to meet and exceed expectations in each job. To perform, employees must know what they’re measured against and have control over those metrics. Keep track of goals and results and ensure that feedback is delivered.

Finally, develop a plan on how you can shift more money towards rewarding high performers. This can be done by raising your total budget, or give non-top performers a smaller raise.

4. When pay disparity exists

Pay disparity describes the situation when two people hold the same job or very similar positions but there’s a large difference in their salary (20% difference or greater)

Credit: Robert Neubecker

How to fix it:

Investigate if the pay variable tied to performance, tenure or other justifiable factors. Find out if it’s possible the two employees share the same title but are doing different jobs

Is one more senior than the other? Is one in a newly created position that needs to be more clearly defined and benchmarked? If you find two employees are in the same role and one is underpaid, try to close the pay gap ASAP.

5. When someone is overworked

If you see a certain employee is working all hours, not taking leaves, or even working during holidays, it’s likely they will soon be exhausted and quit. Here are the signs of employee burnout.

How to fix it:

The only way to fix this problem is to change your culture. This is not an overnight fix. Creating a culture that values work-life balance has to start from the top. Company leaders need to believe employee wellbeing matters to the business’ success.

If you are a leader, lead by example. Don’t send emails after work hours or while on vacation. A company in US created an unlimited paid leave policy to show that they value rest and trust their employees to be responsible.

You may also want to create policies that give employees the choice to work from home or work flexible hours.

Source: BambooHR

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