Forging the Workforce of the Future: Can you reduce the turnover rate?
Are employees leaving faster than you can recruit them? You might not be alone. Consulting firm Robert Half found that in 2018, more than 67% of Australian employers say the turnover rate has risen in the past 3 years. In fact, the average turnover rate is 15% every year. Turnover occurs when an employee chooses to leave an organisation (voluntary) or is asked to leave for any reason (involuntary). Generally, a low turnover rate is great for a company. It indicates effective hiring, onboarding, training, and engagement practices.
How to solve the high turnover rate
Many companies are constantly trying to find ways to reduce their turnover rate. From attractive compensation packages to flexible work arrangements and lifestyle perks, millions of dollars go into convincing employees to stay. That’s why at this year’s Workforce Success Conference, we are inviting students to propose ways to reduce the turnover rate in Australia. Read on to know more about how companies are investing their retention rate and sign up for the case competition today! An internship and cash prize awaits the winner.
1. Adjust your recruitment strategy
Create a recruitment strategy benchmarked on your best employees. Look at the attitudes, qualifications, and skills of your most productive and longest-staying employees. This will guide you where to look for new candidates, and what kinds of questions you should be asking them. Hiring is expensive and every lost hire represents wasted investment. Download and customise Tanda’s free position description templates to create the best call for applications. This will let you pool the candidates faster and assess them with greater accuracy. Then use our free interview guide and free interview kits to find the right talent for your company.
2. Provide training and development
The lack of support can cause employees to question their role in the company and whether or not they are valued within in it. Managers need to provide the training and development for employees to progress in the company. In fact, a worldwide survey revealed that 37% of employees are dissatisfied at work due to a lack of support from their boss. Uncertainty about the workplace’s vision or strategy also contribute to dissatisfaction. There’s no bigger trigger of resignation than stagnation in a role. Providing opportunities to improve and take on bigger challenges increases the probability that talent will remain with the company.
3. Recognise and reward hard work
Unappreciated hard work tends to sour the work experience and lead employees to look for better environments elsewhere. Make sure that positive performance is credited and held up as an example for others. Back the recognition up with tangible rewards to show that your company invests in its people. You can start by rewarding attendance to show appreciation for employees who are diligent about time. To implement an attendance incentive program, invest in a reliable employee time clock app with photo verification features. Not only will you track attendance better, you can even integrate it with your payroll system so payday is a breeze.
4. Promote work-life balance
The link between employee happiness and retention is highly intuitive. When you give employees time to spend with their families or on their hobbies, they are more likely to come into work recharged and ready to tackle new challenges. Modern managers know that keeping employees happy is key to lowering the turnover rate. One way to promote work-life balance is effective rostering. A good roster balances the availability of staff with their personal needs. This can be challenging especially for shift work industries. Workforce management software lessens the burden on managers with roster templates, leave management, and shift swapping.
Free download: Overcoming Employee Challenges in Shift Work Industries
5. Engage employees every day
Employee engagement is the emotional commitment the employee has to the organisation and its goals. It’s how far staff are willing to go to fulfill the customer promise. But because we spend most of the week at work, it’s easy to feel jaded. Many employees are dissatisfied not just about the job, but also the workplace and co-workers. Increase employee engagement by asking for shift feedback about what employees like and do not like. It will allow them to take a greater part in developing their role, steering their team, and growing the business. Following through on employee concerns can significantly affect their decision to stay with the company.
Ready to forge the workforce of the future by reducing the turnover rate? Form a team of 3-5 students and sign up today. A cash prize and internship awaits! We’ll email you more details and provide consultation once you sign up.
Industry Insights |
Giving Employee Feedback: 7 Ways to Constructively Deliver Bad News
Wouldn’t management be so much easier if everyone just did their job? You might feel sometimes like your job description would better match that of a babysitter than a business manager. But the sad fact is, unless you provide your staff with proper leadership; productivity, efficiency, morale, and overall quality of work will suffer. Part of effective management is providing your personnel with feedback when they’ve done something incorrectly, or perhaps just less correctly than you would prefer. Ideally, you want to train your workforce to act as you would in a given situation. This takes time, patience, and consistent positive reinforcement. So how can you communicate to your beautiful and unique snowflakes that they’re not meeting your standards without alienating, offending, or irritating them? Here is a list of best practices that can help you deliver a difficult message in ways that will improve employee attitude, engagement, and performance. 1. Focus on Positives Even if you’ve been stuck with the worst employee in the world, even if they come into work smelling like a Cypress Hill concert in un-ironed slacks made of organic hemp, you’ve got to find a silver lining. To be clear, this doesn’t mean sugar-coating the negatives. It just means balancing criticism with praise. Build employee confidence first, then present avenues for improvement. The thing to remember about creating a harmonious work environment is it begins and ends with being nice. The simplest gestures can prevent resentment, discontentment, and hurt feelings. Keep your employees happy, and you’ll be a much happier manager. 2. Objectivity This can be tough. It’s important not to let your emotions get in the way of effective management. Subjectivity can get you into all sorts of trouble: favouritism, nepotism, and a plethora of other –isms worth avoiding. A cool head is needed for command decisions, plus your employees will reflect the attitudes you present to them. Come to work angry, and you’re likely to look out and see an office rife with cantankerousness. 3. Always Deliver Negative Feedback in Person It’s a busy day, you hear a bad report, and you want to get it handled quickly. So you just shoot of an email with a textual reprimand. A very tempting scenario, but not the best idea. People can read into messages more or less than you intend. If there’s a problem with an employee important enough for you to respond personally, then it’s important enough to respond to it in person. 4. Time your Feedback Correctly Timing is everything. You have to take the opportune moment. For minor infractions, or something of a sensitive nature (a conflict between employees for example), allow a bit of time to pass so that tempers might cool before addressing the situation. Similarly, don’t call an employee out in front of their peers. Wait for the right moment, when they’re not under scrutiny, to approach. You don’t want to embarrass an employee, and you never know what can get the blood running to someone’s cheeks. 5. Location, Location, Location Along the same lines as timing, the location of a performance review can have a great impact on how receptive an employee might be to your suggestions. Go to an empty conference room, any neutral ground will do. 6. Pay Attention to How You’re Being Perceived This means watching your phrasing and body language. Present problems in a sympathetic light, and avoid negative syntax: “I don’t think… You shouldn’t… This isn’t…” Maintain eye contact, without being creepy. Keep gesticulations, mannerisms, and movements calm and casual. Aggression is an animal instinct, don’t release the beast during a performance review. 7. Be Clear With Your Criticisms, Leave No Room for Interpretation Convey your meaning quickly, clearly, and without ambiguity. Be direct with your employees, let them know exactly what you disapprove of, how they can improve, and if there’s a need for it: a warning as to what continued instances of the undesired behavior will result in. Alternatively, reinforce desired actions. If they’ve done anything right at all, mention it, and offer praise. Building an effective team is a complicated process, but armed with common sense and a healthy dose of positivity, you can put together an office environment that runs like a well-oiled machine.
Product Updates |
Tanda hits 1 million clock ins!
Tanda has ticked over to 1 million clock-ins! That is a lot of people showing up for work. And though we may gripe and grumble about the daily grind, one million clock-ins is something we want you to celebrate with the whole team at Tanda. Tanda has been here to help you. We have helped you make payroll simple and easy. We have helped you make time theft and wasted hours of figuring out award rates a thing of the past. But today Tanda wants to acknowledge someone else in this ever-growing time and attendance tool. We want to focus on YOU. One million clock-ins on our successful cloud-based software might seem like an intangible concept. Instead, we’d like you to think of it more as an in-Tanda-ble concept. That’s people getting up early to clock in so you have your morning coffee. That’s childcare workers all over Australia clocking in to make sure your children get the best start in early learning. That’s certified companies like Subway, Nike and Telstra moving forward in the constantly changing systems of business, time and attendance. But more importantly in many ways, that’s small businesses and the backbone of Australian industries moving forward with them too. Tanda ensures no one gets left behind, and no time or attendance goes amiss for those 1 million of you who have clocked in. Though we can’t celebrate this achievement with each and everyone of you in your office, restaurant, childcare centre, hotel or whatever space it is you run your business in, we can still thank you all here from Tanda HQ. This video isn’t much, but its a small demonstration of how excited we are for all of you. Keep up to date with more exciting news from Tanda by heading to our Facebook page and giving us the old thumbs up or follow us on Twitter and LinkedIn for more surprises to come.
Industry Insights |
“Help! My employees are always late!”
Do you find in your business employees are constantly showing up for work late, or clocking off just a little bit too early for your liking? Tanda can help you keep track of your employees clock-ins and clock-outs. The SMS feature alerting you when people are late is also a handy Tanda tool to keep an eye on the hard workers and the not-so-hard workers in your team. But there’s one thing a Tanda Clock can’t do, and that’s motivate your team to show up on time to put in their best work. There’s a few key reasons staff start to dawdle on their way to work. One key factor is motivation. Once motivation drops in the office, kitchen or factory, the unproductive sentiment can spread like wild fire. You can help bring up your employees motivation levels with a few tips and tricks that the team here at Tanda has learned and implemented as well. Automation Firstly, automate what you can. If there is something an employee has to do that could be done just as easily with an add-on, application or new system then what are you waiting for? The same way Tanda automates payroll and rosters meaning less time wasted on the boring stuff, you can get rid of the boring tasks for your employees too. Rotation There are some things that have to happen around the workforce. But, if one employee has to carry out the same task or responsibility for more than three hours you will notice they might be getting bored. Try rostering them onto the same task for days or weeks on end and then ask yourself can you really blame them for being late all the time? Instead, it’s better to delegate and rotate tasks between your team. Productivy levels tend to spike at the beginning of a task, so if you can keep your team motivated with new or different things to do you’ll find less stragglers getting to work in the mornings. Optimization Which brings us to optimising how you use your time. Tanda knows a thing or two about time and attendance. Studies have shown people were more likely to be more cooperative and get work done in the morning. Throughout the day the peak in productivity comes unsurprisingly after lunch breaks. The worst times for positive results came just before lunch breaks and nearing the end of the shift. With that in mind, try and schedule the nitty gritty work, unpleasant tasks or least favourite jobs in the mornings and just after your staff have had a break to refresh. Save the fun stuff for the long hours and just before home time. Because really, if your staff are passionate about what they do for your company then there should be plenty of fun stuff for them to do.