Employee turnover will slow down the work and will limit the momentum of work of the organization. So, there are ways to limit the employee turnover.
- Embrace remote work:
- Embrace remote work because when working in a global zone people get frustrated that why do they need to commute as they do not have to personally interact with anyone.
- Make it company policy to work remotely which is easily possible in smaller CROs.
- Employees want flexibility and love to work remotely as they can take care of their family and personal matters.
This will increase employee productivity, save cost and is also beneficial for the company.
- Learn employee motivation: Learn what motivates your employee and what gives them comfort otherwise they will move to somewhere else with more benefits and more money but money is not everything for some people. So, learn their motivations.
- Give them an extra day off or a floating holiday or they may prefer an extra volunteer time.
- They may want extra work from home day.
- Give them the comfort to make them stay but this does never mean that they will lose their momentum.
These things will attract more talented people and will also boost your business.
- Facilitate friendship:
- Let the people work with their friends because people feel comfortable to work with their friends and they produce with the best of their ability. They enjoy coming to work and it makes them happier.
- Manager should have the budget to take the team out for food or for drink when they achieve a goal.
- Strongly consider employee referrals because they are most likely to recommend their friends.
At entry level positions, it’s beneficial to facilitate friendship to develop these bonds, loyalties and this will also improve employee morale and they people will never jump.