How to Decrease Employee Turnover at your Manufacturing Plant
Employee turnover is a problem that many companies experience, but there are ways to resolve this problem. At ITC Learning, we understand that frequent employee turnover is a major problem and should be looked at because it can significantly affect the financial performance of any organization.
How to calculate the turnover rate?
Turnover is calculated simply by dividing the number of annual terminations by the average number of employees in the work force. According to the Bureau of National Affairs, the average employee turnover rate is over 12 percent annually. How does your company compare?
Here are a few things you can do to reduce turnover:
Many entry level workers do not receive the training or feedback that they need when they are trying to work their way up in the company. By providing training programs—-boiler training, hydraulic training, and other necessary training courses—- to develop their skills your employees will have the knowledge to take on greater responsibility and grow within your company. High turnover rates can have a big impact on the quality of your manufacturing system. By emphasizing and showing your employees that they can grow with your company you can make them see that you want them to remain with your company. When you work with ITC Learning, you’ll find that our training programs, whether you’re looking for a boiler training, hydraulic training or pump training are easy to implement.
Depending on your employees a bonus program might be a good way to increase retention and morale. But a yearly award program or gifts program can also work too. Keep in mind that money is not the number one reason people come to a company or leave a company.
Hold regular review sessions
Have an open door policy that allows your employees to feel free to talk to their supervisors about ways to fix problems at work. When employees work closely with their management team, they feel involved and they’re more likely to stay with your company for a longer period. Plus, keeping your employees informed and educated about new policies and procedures makes them more effective.