In a previous blog, we discussed the issue of turnover and how to deal with the loss of a top employee. In the following post, we will go deeper into the subject by looking at ways to plan for turnover, limit its impact on your business and prevent it from happening on a consistent basis. As we know it’s a part of business, so like anything else, preparation will allow a smoother transition when the situation occurs.
The first thing a manager should do in preparing for turnover is to take some time and understand everyone’s roles and contributions. This will allow you to identify top employees as well as those who have the potential to get there with some time and training. By knowing your key employees, you can do things to retain them. If you’re unsure what you can do to keep employees around, check out a previous blog about the subject here. However, if a top employee leaves regardless of what you offer, you will have those replacements identified, trained and ready to get to work.
One of the biggest issues companies face with turnover is the loss of knowledge. There are many times when employees either write down valuable information on their personal property (notebooks, computers, etc.) or leave it in their heads. The best way to solve these issues is to promote and encourage the sharing of ideas and knowledge. By focusing on collaboration, it will be hard for ideas to hide. Some ways to do this would be saving important documents to computer drives accessible to multiple people, utilizing team collaboration tools like Google Docs and having meetings on a consistent basis to talk about best practices and new ideas.
In another one of our previous blogs, we discussed how to develop employee empowerment and the first step mentioned to accomplishing this was keeping the lines of communication open. When your employees know that you’re being honest and that they can be heard, it can go a long way in keeping your employees. The communication will allow everyone to know what is going, expanding everyone’s inclusion in the company.
By following the steps above, your company will be in a much better place to limit and handle future turnover.