Good employees are leaving the organisation.

How you
control this turnover rate?

Impact of high turnover rates:

Having a consistently high employee turnover rate at our company can
impact our business. When an employee quits, companies can
sometimes spend twice as much as that employee’s salary in recruiting,
hiring and training a replacement. If the employee was client facing
such as a sales person or an account manager there is the risk that the
client may discontinue business with your company or follow the
employee to their next employer. Increased employee turnover can also
have a negative impact on those who stay behind. A high turnover rate
can also make it difficult to hire and keep talent. We can easily notice a
company has a high turnover rate may be reluctant to work with a
company that sees so many employees leave.

Why employees leave?

There are numerous reasons an employee can be motivated to leave a
company — from feeling burned out in their current role to feeling like
the company no longer meets their needs. When an employee grows
tired of their role within a company, they often start looking for a better
opportunity elsewhere. If a company isn’t able to offer the resources
to establish sufficient balance/work, an employee may find it elsewhere
with another employer.

HOW to reduce turn over?

Hire the right employees and manage expectations:
The best way to make sure you have the right employees working for
you is to find the right employees during in the hiring process. Taking
the time to ensure the candidate is the kind of person who would be
compatible with the company culture can go a long way in making sure
they are with your company for a long time.

Maintain constant communication:

Many managers rely on having open communication among themselves
and the employees they oversee. An open line of communication is an
easy way to know about problems or concerns your employees have
long before the issues become unmanageable. Additionally employees
should have frequent and regular sessions to review both their work
performance and salary expectations. If your company is growing, the
responsibilities of your most trusted employees may grow with it.
Employees expect to be compensated fairly for their time and effort,
especially of their job description changes.

Issue Special Projects or Incentives:

Often a low period of moral can be resolved by issuing a unique project
to a employee who may be considering leaving the company.
Additionally a sales team may be motivated by a competitive incentive
for a monthly or quarterly sales drive.

Adjusting Company Policies and Workplace Benefits:

If low morale is contributing to your company’s turnover rate, it may be
worth reassessing your company’s policies. Offering benefits that allow
for work balance can go a long way in developing a sense of freedom
and independence that can keep employees with your company longer.
Allowing for flexible schedules, four-day workweeks, or remote/work
from home solutions have been shown to increase productivity and can
install a sense of trust with your employees.

Hire the right people:

The best way to ensure employees don’t leave you is to make sure you
or hiring the right employees to begin with. Define the role clearly both
to yourself and the candidate.

Fire people who don’t fit:

For people as a old saying”A stitch in time, says nine”. The same goes
for cutting employees loose when necessary sometimes even when you
follow the advice above, you get an employee who- no matter what you
try to do- just doesn’t fit. And, no matter how effective they might be at
their actual work, an employee who is a bad for your culture, and that
creates ”culture debt”. They will do more damage than good by
poisoning the well of your company.

Recognize and reward employees:

Show your employees they are valued and appreciated by offering them
real time recognition that celebrates their success and their efforts.

Offer flexibility:
Today’s employees like to have flexible life. That impact retention
directly that means if your not offering employees flexibility work hours
and locations, they might easily leave you for someone who will.

Prioritize employee happiness:

Happiness may sound a bit soft and squishy to many execs, but the
numbers behind it are anything but. Employee happiness is a key
indicator of job satisfaction, investing in the happiness of your
employees will pay dividends in engagement, productivity and yes,
retention.

Make opportunities for development and growth:

Employees place HUGE value on opportunities for growth. In fact, a
recent cornerstone survey drew a direct connection between lack of
development opportunity and high turnover intentions.

Conclusion:
So these are some of the steps to control employee turnover rate in the
organizations. In that they have to motivate the employees by giving
incentives, fair wages, hikes, bonuses and performance appraisals and
one of the most thing is if employee wants to terminate the organization
should give counseling to them.
If I am in the position of manager in any organization I May not
loose skilled employees I tried to putting all my efforts, skills to control
the labor turnover rate.