Measures to reduce high turnover of management trainees:
High or low employee turnover can be detrimental to the company. Employee turnover can vary as a result of the industry and location of your business. For instance, the food service industry typically experiences turnover of 100-300%. The stress of employee turnover is much greater on smaller businesses than larger corporations. Before you can take effective measures to reduce turnover, you first need to find the price your business pays in lost employees.
High turnover can cause continual retraining and it projects an unfavourable image to members and potential members. The problem might be at the beginning of the employment relationship—hiring the right people in the first place.
Hire the Right Demographic: Is your small business properly recruiting the right age group? Match your company profile with your target hiring group. If you can’t offer career advancement to your workforce, then avoid hiring young career oriented staff. Consider hiring older employees who are less concerned with advancement.
Understand Employee Motivation: Retaining staff requires learning what’s important to your employees. Look to the external motivators like recognition and rewards. Remember the internal motivators of purpose and passion.
Read between the Lines: The real cause of employee turnover usually won’t be found in your typical exit interview. Departing employees will provide the usual response of leaving for more pay or a better job. Inquire for deeper meaning. Was it a lack of support? Was the commission structure unreasonable? Take the time to get to the bottom of the turnover.