How to Mitigate Employee Turnover
Employee turnover is the rate at which employees leave a company. It is a metric that is dreaded by organizations everywhere regardless of sector or industry. An organization usually measures its employee turnover rate annually. A high employee turnover rate is terrible for any business. Not only does it speak to the unhappiness and dissatisfaction of an organization’s workforce, but it is also damaging to a company’s finances.
When an organization maintains a high employee turnover rate year after year, it is an urgent warning to the company and should be addressed immediately. No employee ever wants to work or stay at a company that cannot keep its employees for a long period of time.
Incorporating strategies like “Virtual Medical Assistant Benefits in Reducing Turnover” offers a proactive approach to this issue, especially in sectors like healthcare where the demand for efficiency and support is high. Virtual Medical Assistants can dramatically shift the dynamics of workplace satisfaction by taking over routine administrative tasks. This shift allows medical professionals to concentrate more on patient care rather than paperwork, directly impacting their job satisfaction and perceived support from the organization.
There are multiple factors that contribute to a high employee turnover rate. A few of these examples are:
- Their hard work isn’t acknowledged
- They receive little to no support
- They aren’t compensated enough
- They are given more responsibilities than what is stated in their job descriptions
- The job doesn’t provide a healthy work/life balance
- Toxic work environment
That being said, there are multiple ways organizations can do to mitigate employee turnover. These will ensure morale within the organization is well and high and it will save the company a whole lot of money.
Recognize Greatness Within Your Organization
One of the best ways to ensure your employees are happy working for you is to acknowledge them whenever they perform well. In the spirit of that, monetary rewards or implementing an “Employee of the Month” program can do wonders for company morale. This, in turn, does wonders for your employee turnover rate.
Something as simple as acknowledgment is good for your company. It ensures your employees remain seen, happy, and content. On top of implementing programs that reward great work, setting up meetings with an employee to simply tell them how good their work has been is enough too. It makes them feel seen and acknowledged. Of course, you shouldn’t stop there, but it’s a good first step to take.
Be Clear With Your Intent For Retention Early On
When hiring an employee, make sure to let them know early on that it is your intent to hire people who can stay with the company for a long period of time. This gives them the motivation to do great work in the company and it lets them know that this is an organization where they are encouraged to grow. This is an idea you’ll need to instill in workers even before they go on board.
Let your recruiters make this very clear whenever they interview applicants. Make the mission and goals of your company very clear and give any prospective employees a clear glimpse as to how they can contribute to that goal. Then, once they begin working for the organization, continuously make them feel valued whenever they make an effort to contribute.
Hire the Right People
In most cases, an employee leaves a company simply because they aren’t a good fit. This can either be the fault of the employee or it can be the fault of the recruiter. From the get-go, it is essential that your recruiters hire people who can work and fit right into your organization. Make sure they have the skill set, and they should also have the right behavior to stay there for a long time.
Many employees leave a company not because they feel they’re not skilled enough to work there, but because they feel out of place. The culture and work environment aren’t compatible with who they are. Any recruiter should take this into consideration whenever they hire new people.
Pay a Fair Wage
Let’s face it. As much as we love to say “the company is a family” and workers shouldn’t be in it for the money, they definitely are in it for the money. A worker’s salary is their primary motivation to do good work and excel at an organization. It is not the only motivation, but it is a very powerful one. No matter how much an employee loves their work, if they receive a better offer elsewhere, they’ll take that offer with no hesitation.
Considering that, if you want to maintain employee retention and mitigate employee turnover, pay your workers a fair wage. Pay them well according to their skills, credentials, and experience. It’s another way to make them feel valuable.
Hire and Promote From Within
A lot of companies prefer to hire externally when filling up any upper-level management positions. However, why not give the workers in your organization a shot? Those workers know your company better, they know how things are run, they know the kind of work environment the other employees flourish in, and it encourages your workers to excel in their respective fields.
When a worker sees that there is an opportunity for career growth in your organization, they are going to want to stay with you longer so they can grow with you. They will want to grow within the organization. Therefore, they will continue to work with you for years and years so that they can rise through the ranks. Give your workers this opportunity and watch your employee turnover rate diminish to oblivion.
Virtual Medical Assistant Benefits in Reducing Turnover: Flexibility
Another aspect you can offer to your employees to raise morale and worker satisfaction is to offer flexibility. More and more companies lately are employing a hybrid work model wherein an employee can work remotely should they want. It will only be necessary for them to go to the office during certain days, or whenever there are crucial meetings and events. This gives your workers a healthier work/life balance.
Many employers fear giving their workers the opportunity to work from home as it may lower their productivity. However, this is far from the case at all. In 2021, Owl Labs surveyed 2,050 full-time workers in the U.S. and asked them about their remote and hybrid work situations. 90% of these workers reported being even more productive whenever they worked at home. 84% of them said that the hybrid work model made them feel happier and more satisfied with their jobs.
Know Your Organization’s Faults and Fix Them
If you want your organization to change and mitigate employee turnover, you’ll have to look within as well. Start by collecting meaningful data and assessing the reasons why your former employees left your organization so quickly. Once you’ve gathered enough information, take steps so that your organization doesn’t fall for those traps again.
If your former employees left because your benefits aren’t satisfactory, take measures to address that. If you’ve been unknowingly cultivating a hostile or toxic work environment due to pressure and stress, take measures to decrease that pressure. Whatever the case is, fix the problems from within and you’ll drastically see an improvement in terms of employee retention.
Promote a Healthy and Respectful Work Environment
Keep your workers happy by promoting a healthy and respectful work environment. Make your organization a place where employees can work properly and actually enjoy being around you and your team. Your workers should be able to see each other as real human beings, not just cogs in the machine that is your company.
That being said, whenever you begin noticing another worker exhibiting bad behavior, immediately call it out. Train and educate them on the value of cultivating a healthy work environment and have them follow suit so that they and everyone around them can work and excel properly.
Keeping worker morale up is another way to promote a healthy work environment. If your workers are happy, your workplace will feel livelier and healthier.
Make Communication More Streamlined
Make yourself approachable and visible to your employees. Make sure access to you is easy and streamlined. Your employees should have the chance to talk to you or another authority figure in your organization whenever they need to address something. An employee will feel unsatisfied with their work environment whenever they feel like they have no opportunity to voice their concerns to a person of authority within their company.
That being said, you can open up certain hours of your day solely dedicated to check-ins with your employees. Otherwise, you can announce to your staff that they are free to approach your secretary or your virtual assistant should they want to schedule a one-on-one with you. Be this open to your employees and they’ll be more motivated to stay with you longer.
Virtual Assistants Can Make You More Accessible to Employees
As much as you’d want to spend time communicating with your employees, you won’t always have time for every single one of them. As such, schedules need to be made and meetings need to be set. You will not be able to set these on your own, or even keep track of your own schedule at times.
Having an in-office secretary is a great option. However, if you’ve adapted a hybrid work model and you have multiple employees who work from home, your assistant needs to be this flexible as well. Hire a virtual assistant and have them take care of your schedule for you. Have your employees approach them so they can set appointments with you.
Incorporating VMeDx virtual assistants into your organizational structure can significantly contribute to “Virtual Medical Assistant Benefits in Reducing Turnover” by fostering a more inclusive, responsive, and efficiently managed work environment. This strategy ultimately benefits the organization as a whole, creating a win-win situation where employee satisfaction is boosted, and the management is able to maintain a more hands-on approach to leadership despite a busy schedule.