Employee turnover tells us how many employees leave a company and are replaced by new hires. Basically, it’s the revolving door of the corporate world.
But employee turnover is more than just a number. It’s a reflection of the company’s culture. High turnover can signal dissatisfaction, disengagement, or misalignment with the company’s values. On the flip side, low turnover often indicates a thriving, engaged workforce. So how do you battle high employee turnover? We have some ideas.
Employee turnover: the Great Resignation & quiet quitting
The great resignation and quiet quitting were phenomena organizations had to deal with in the last years.
The great resignation was almost like a mass exodus from the 9-to-5 grind. Many people left their jobs looking for more fulfilling opportunities. Better jobs. In the US alone, 47 million people quit in 2021, and 50 million more in 2022. It’s a wake-up call for organizations to rethink their work culture, employee benefits, and overall job satisfaction. It’s time to level up or risk being left behind.
Quiet quitting is a phenomenon where employees disengage from their roles while still technically fulfilling their responsibilities. It’s a subtle form of withdrawal, where overtime and extra work are no longer taken for granted. Often, it’s a silent SOS signal that something’s not right in the workplace.
Quiet quitting is not technically employee turnover, as people don’t actually leave their jobs. Yet. One could easily argue that quiet quitting is just a prequel to resignation.
The great resignation, however, led to huge employee turnover.
Even though the big reshuffle — another word used for great resignation — seems to be behind us, it is a clear sign that the culture in an organization is not great. After all: if it was, there’d be no need to look for greener pastures.
At Corporate Rebels, we believe that a positive and engaging work environment is not just good for employees, but also for the organizations they work for.
That’s why we believe that high turnover is typically a symptom of deeper issues within the workplace. Our focus is on creating workplaces where employees feel valued, engaged, and excited to contribute.
Workplace revolution: how we see employee turnover
At Corporate Rebels, we believe that a positive and engaging work environment is not just good for employees, but also for the organizations they work for.
That’s why we believe that high turnover is typically a symptom of deeper issues within the workplace. Our focus is on creating workplaces where employees feel valued, engaged, and excited to contribute.
Here's how we like to do that:
Promoting open communication
We encourage workplaces to foster an environment of transparency and open dialogue. This helps employees feel heard and understood and boosts engagement. There’s no knowledge-hoarding (or at least less), and everyone shares the same tools and mission.
Healthy work-life balance
Overworked employees are more likely to leave, so a good balance retains talent.
Build trust
A culture of trust and autonomy is the corporate holy grail (if you ask us, at least). When employees feel trusted and have a sense of control over their work, they are more likely to be happy. Happy people are less likely to leave.
Creating a network of teams
One way to build a strong team is to shift from hierarchical structures to a network of teams. Cut out middle management. Autonomy and accountability give purpose, on all levels.
Through our blog, we share insights and case studies from companies that have successfully implemented these strategies. We believe that by learning from these pioneers, other organizations can also transform their workplaces and reduce turnover.
For a more comprehensive approach to reducing employee turnover and building a thriving workforce, we have created great courses supported by a motivated community. Together, we can create a workplace where everyone wins.
Rebels & Pioneers
It’s not just us investing in talent. We learn from the best rebels and pioneers worldwide.
How to reduce employee turnover and improve retention
We have touched on our views on employee turnover and how to prevent it. This seems like a big task, but it doesn’t have to be. Here are some quick wins.
Hiring process
Start from the beginning, with recruitment. When hiring, go with candidates who align with your company’s values and culture. A match in purpose is invaluable. This not only reduces turnover but also enhances employee retention by ensuring new hires are genuinely invested in your organization’s mission from day one.
Clear job expectations
Providing clear job expectations can help team members understand their roles and responsibilities. Set goals and KPIs, preferably on a professional and personal level. Clarity helps everyone. It boosts commitment and engagement, which are arguably the opposites of turnover and key to improving retention.
Open communication
Transparency is key. Encourage a culture where everybody feels heard. Regular check-ins, good feedback, and transparency at all levels can foster this environment. When employees feel their voices matter, they are more likely to stay with the company.
Recognition and reward
Recognizing employees' efforts boosts morale and job satisfaction, which leads to lower turnover. This doesn't always mean monetary rewards, although that too. Autonomy, unlimited holidays, or even a simple show of appreciation can do the trick. A culture of recognition strengthens employee loyalty and retention.
Work-life balance
Burnout is real, and it's a common reason employees leave. Promoting a healthy work-life balance is crucial. This could mean flexible hours, remote work options, or simply respecting boundaries and personal time. By supporting work-life balance, you make your employees feel valued and respected, which significantly improves retention.
Career development
Personal growth is essential on a human level. Providing opportunities for development makes employees feel valued and less likely to leave. Focus on career progression, but also offer training or courses. Investing in your employees’ future shows that you care about their long-term success, enhancing retention.
Regular feedback
Commit to open, honest, frequent, and transparent feedback. This helps team members grow, within their job, the organization, and personal. Preferably make it a two-way street, where management also benefits. Regular feedback ensures employees feel connected and valued, reducing turnover.
High employee turnover is a b*tch. It’s lower in flatter organizations, with higher autonomy and less micromanagement. Get inspiration from our pioneers. Or sign up for our courses, and transform the way your organization works. You won’t regret it.