Six Ways to Decrease Employee Turnover?
The healthcare industry has some of the highest employee turnover rates in the country. Dialysis businesses, specifically, saw even higher turnover rates at greater than 30%. This rate affects operational costs and causes low patient satisfaction and due to longer working hours and lower pay, the rates have unfortunately increased.
Monthly Turnover Rate = (Number of Separations During the Month / Average Number of Employees During the Month) x 100
Here are a few ways employers can decrease turnover rates:
- Spot disengaged employees, work closely with them to improve engagement in their respective roles. Disengaged employees are not only at risk of leaving the company, they could also be disruptive to other staff members. Tip: Daily huddles could be one of the ways to engage your staff
- Celebrate employee appreciation week to show employees are unique beings with unique talents and experiences. You can do this by supporting their interests and encouraging them to voice their concerns. In the book “Corporate culture and performance” by Kotter and Heskett, the authors illustrate the gravity of performance-based culture and its influence on everything including employee growth and turnover.
- Invest in the creation of strong, clear, open, and positive communication throughout and within each department at all levels. A well informed employee is an engaged and subsequently loyal employee.
- Hire strong employees by writing well defined job descriptions and subsequently providing adequate training to meet the individual needs of the staff member.
- Find out each staff member’s career goals and link it to their role in the facility while also holding them accountable for their responsibilities.
- Don't hesitate to promote employees with potential, tangible appreciation increases employee engagement and retention.
- Survey your staff annually, at a minimum. This will allow for a perspective of their impressions of the job and the company environment.
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