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The following is a guest post by Jonathan Jones.
Employee turnover is a true hidden cost and it’s something employers are taking very seriously. The costs of finding new employees to replace the old who have left can run into the hundreds of thousands – and it’s worth spending money to try and retain your current employees, according to a report by CIPD.
Otherwise, you may run into trouble, as you’ll need to set aside enough time and money to recruit new employees; training and setting up new employees is quite costly, so we have this infographic that provides information by Susanne Jacobs, who has devised what she calls the Jacobs Model. Essentially, this model’s intent is to provide eight ways employers can improve employee trust in the workplace:
- Belong and Connect. This is all about including people. If there’s a meeting everyone is attending, then be sure to include that one person who didn’t receive the memo.
- Voice and Recognition. Management should allow others to speak freely without any discrimination. Views and ideas should be encouraged.
- Significance and Position. Let your employers know the significance of the work you’re giving them. If their work is not being recognized, then they’ll feel a sense of job insecurity.
- Fairness. Everyone likes to be treated fairly and organizations need to be consistent. Don’t just give all the hard work to one person. Allow everyone to contribute the fair amount, especially if your organization uses a team-focused work structure.
- Learn and Challenge. Research tells us that, when a worker is challenged, they are more productive. Give them work that is challenging but not overwhelming.
- Security and Certainty. If workers feel they aren’t secure in their job or even if there are small uncertainties about their future career, then this could possibly push them into looking for other jobs. Provide career-based opportunities with the distinct notion that they can progress.
- Purpose. People as a whole need a sense of purpose. If they are in a team-based environment, then they need to feel like they are contributing significantly to that team.
- Choice and Autonomy. Giving workers choice and autonomy on how they’ll approach a piece of work allows them to have that sense of authority, which everyone likes to have. It means they’ll be more engaged with the work they are doing and thus be more productive.
The Jacobs Model provides these tips in order to lower employee turnover and, in this case, perception is everything. Take a look at this infographic by employee benefits company Unum called “Workplace Trust”. It delves further into how employees can reduce employee turnover.
About the Author:
Jonathan Jones works on behalf of Unum UK. He looks at ways businesses treat employees and the various benefits that can be afforded to employees in the workplace to lower staff turnover. Concerns such as employee engagement are at the forefront of his knowledge.
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