As the economy improves and employees start to see new opportunities to increase pay and responsibility employers will start to see an increase in turnover.
Turnover is very expensive to businesses as there is the cost of sourcing candidates, time to interview and check references and then the training of the new hire to meet the daily tasks.
One of the best ways to meet this challenge head-on is to ask your employees what their long-term goals are, do they need any additional training to be more productive on the job and what are some of the key challenges that they face. Often times it is just the discussion that makes the employee feel better about their manager and company. So ask your employees to share their thoughts and learn from their ideas.
Communication is very important and two-way communication is critical to retaining employees. As a reminder, if you lose an employee you will often have to pick-up their job in addition to your own so learn to listen and communicate more effectively.
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