There are two realms of thought when it comes to a company’s turnover rate and employee perception of job security. “Healthy” turnover is often discussed at Fortune 500 companies as being a virtuous element: the departure of low performers will have a positive impact on overall employee engagement, productivity, and profits.
For us, employee retention is at its highest for our company. As much as I’m proud of our company’s culture and exceptional metrics, in general, is low turnover a good measurement of business success? Depends on the industry and each company must align their view on turnover with their company culture.
Take a look at U.S. employee turnover rates in 2013, for various industries. Where do you fall?
From the employee standpoint, job security tends to be a top priority, yet many self-sabotage themselves without realizing it. To employees, take heed of these tips, they may save your job and even career.
There’s a human tendency to think that what we did yesterday is good enough to get by for today. This can easily occur with a long-term employee that is overly secure in her job. As a business owner or manager, it is your duty to ensure the success of the team and maximize the performance of the team. A leader cannot maximize the success of the team if the leader does not address and resolve inferior performance, even to those long-term employees that you consider family. No one player is more important than the team as a whole.
Remove Rumor Weeds:
Nothing on the planet destroys morale and team camaraderie like gossip. Water-cooler talk fosters clique-type behavior, which will destroy a healthy company culture. It doesn’t matter if they are gossiping to be malicious or an unintentional embellishment, it leads to the assassination of the human spirit and they must go.
This is a no brainer when we are talking sticky fingers in cash register but did you know that employees steal time? Employees doing non work related things while “on the clock” or poor time management/productivity skills is more common that what you think and can often lead to hours in the day where you pay out, but get no return.