Even the best of companies have employees who leave. Whether you’re considered a “best company” to work for, whether you’re large or a small firm of under 10 workers, you’re going to experience turnover.

Staff turnover can be slow and relatively steady with workers leaving only because they decided to take another position because the commute was too long, they felt they didn’t have enough room for advancement, because their family needs to move away to accommodate a spouse’s fabulous promotion or new job, and so on.

Yet for other firms, employee turnover is something more akin to a constant churn. High turnover rates can be quite expensive, since the cost of hiring a replacement can be 50 percent or more of a worker’s annual salary, a figure that doesn’t take into account the lost productivity as other employees must take time from their own duties to fill in for the missing employee until a replacement is hired.

Some tips to cut down on employee turnover:

1) Make sure your employees are being paid a fair wage. Are you offering a wage and benefits package comparable to those of other companies in your industry and region?

2) Offer upgraded benefits. Can you give more vacation time to employees? What about job sharing and/or flex time? Could you start a telecommuting program? Don’t forget rewards programs for perfect attendance.

3) Reward employees who perform outstanding work. Acknowledge their accomplishments publicly. Consider merit pay for good employees, too.

4) Speaking of good employees — promote from within. Work to ensure that every position within your company could be filled by someone within your ranks. No position should be considered a “dead end.”

5) How’s your education reimbursement policy looking? Consider offering to pay a portion or all of continuing education expenses, even bachelor’s and graduate degrees.

All companies experience turnover. To help you fill the staffing gap while you search for departing employees’ replacements, come to StaffEx for help. We can bring in terrific temporary workers for companies in the Tampa area. Contact us today.