What causes high employee turnover?
Workforce makes the business operates, they are the system that works together to achieve the business removed link It’s essential that the employees are knowledgeable and have the necessary skills of their removed link But remember that this labor force has their own removed link Once they felt unsatisfied and noticed that their skills are not fully maximize their drive will weaken as well as their motivation leading to removed link You must build relationship with them to earn each other trust this could be attain through organizing team building removed link Let them feel that they are valued and trusted and properly recognize their removed link Try to reward them after closing a big deal or after increasing your removed link Through this you will not just decreasing employee turn-over but also save yourself from the cost-to-hire removed link
I think there are a lot of reasons why there employee turnover every year, one of these is because of a very low salary that a certain company is giving to its employees. We all know for a fact that the price of the commodities are always increasing every year that is why they tend to prefer a higher salary to supplement their daily needs. Another reason also is due to mismanagement or unfair treatment of the company to their employees. Of course employees have emotions, they are very sensitive to what the management are doing. Rewards or incentives are also a factor, an employee who doesn't receive any recognition or rewards for achieving something tends to feel that he is not important to the organization. Employees tend to fluctuate to other companies who provide them a certain feeling of importance.
There are many reasons if there is a high turnover of staff and it's down to pay, hours, conditions, and benefits especially if you are in the USA. With many companies that employ with 'work at will' contracts or with zero hour contracts (ironic) they will get a high turnover because they don't pay enough for loyalty. This happens in the restaurant industry more where hours aren't guaranteed and in the USA where tips are necessary for part of the wage.
If a company values their staff, pays them a decent wage that they can live on, offer them good and safe working conditions, and enough hours then staff will stay. I'm afraid many look for cheap disposable labor and these companies have a high turn over plus they get a bad reputation. Fast food places are like that, and Wal-Mart has a bad reputation for treating their staff poorly compared to Costco which is in the same industry. Apparently workers in Costco get $15 per hour and as a result they don't have a high turnover of staff compared to Wal-Mart that has staff on zero hour contracts where pay is around $10 per hour.
Certain businesses and niches will have high employee turnover and it isn't always a bad thing because they can cope with it or have adapted enough from past experiences to cope with the high employee turnover. I believe fast food restaurants are a really good example of this because places like McDonald's tend to have extremely high employee turnover. Most of the time, the reason places will have high employee turnover is because of poor employee treatment and unsatisfactory working conditions. If your employees are not happy then chances are they will want to leave and move over to a much better employer.