How to Reduce Staff Turnover
Source: Partner’s Report
A recurrent theme in the many articles written on this subject is that staff retention policies begin during the hiring process. What are the characteristics of your most valuable current staff members with longevity? Those are the things you should look for in new recruits.
The most common causes of staff departures:
- Their contributions are not acknowledged.
- They feel like outsiders rather than important elements of the team.
- The partners are not interested in things that are important to staff.
- They are unfulfilled by their jobs.
- They have low expectations for promotion.
The most common contributors to staff retention:
- Superiors express gratitude for their work.
- Relationships with superiors are constructive.
- Work is challenging and stimulating.
- Prospects for promotion are good.
- Compensation including benefits is good.
Communicate, communicate, communicate. Staff want to know how the firm is doing—both the good and the bad. And they want to be helped in setting and achieving their personal goals. Frequent meetings between management and staff should cover these issues.
Regular training in technical as well as soft skills is crucial. Managers should also be trained in how to retain staff.
From Partner’s Report, March 2005, p. 10.
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