High turnover can be a real problem for any business. Struggling to retain staff can be especially problematic for manufacturers whose production process may rely on trained workers and skilled laborers. Taking steps to improve morale and to optimize retention rates could end up being more profitable to your business in the long run.
PTO and Other Benefits
Salary along often isn’t enough to keep your workers from pursuing other offers and job opportunities. Providing additional time off or offering a wider range of perks and benefits means that even a modest salary can provide sufficient incentive. For businesses that have only limited funds, getting creative with employee perks is often the best tool for improving retention.
Maintaining a Safe Working Environment
A cluttered office, unprofessional retail environment or an unsafe manufacturing floor often means that even the best paid workers may be eager to jump ship. A safer, more orderly and more professional workplace can eliminate many issues that may be having a negative impact on morale. Assessing your working environment and identifying any areas that may require attention or improvement is not an issue that should go overlooked.
Raises and Competitive Salary
Failing to pay your workers what they are worth can be nothing short of disastrous. From annual raises to smaller pay-bumps that can help shore-up morale, a more aggressive pay scale goes a long way towards keeping your staff happy, dedicated and loyal. Providing additional pay for workers who exceed performance standards and those that complete training on different assembly line equipment can also make a real difference. Whether they learn how to operate an air cannon or know how to use a drill press, you are going to have workers that can work between projects reducing turnover between projects.
Cultivating a More Positive Atmosphere
The atmosphere of a workplace is the culmination of both policies and the attitudes and outlooks of individual workers. From knowing which applicants may prove toxic once hired to implementing policies that will help to boost morale, there are plenty of ways you may be able to cultivate a more positive atmosphere. The wrong environment can be a major obstacle for employers who are seeking ways to reduce turnover.
Investing in Your Staff
Your staff is a key asset, one that you would do well to invest in. While the expenses needed to raise salaries or to improve working conditions can erode your profitability in the short term, they can may also provide a superior return of investment in the days and years to come. Having to hire and train new staff could be placing greater strain on your business’s finances than you might realize.
Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max.