Employment | Avoid Staff Turnover

Heading 2

Main Causes of High Staff Turnover in 2024

The last few years have been difficult for employers and staff. The changes post-COVID-19 pandemic continue to evolve, and employers need to adjust if they want to keep quality talent.

Here were top causes of high staff turnover in 2024:

Poor Work-Life Balance

In a 2024 study, 57% of people said they wouldn’t accept a job that would negatively impact their work/life balance. That same percentage might leave a job that had the same drawbacks.

Employees who want a healthy work-life balance might ask for hybrid or fully remote positions, so they don’t waste time commuting. They might also ask for flexible schedules, so they can do things like attend doctors’ appointments or care for their children.

As the hustle culture begins to wind down, employees won’t tolerate jobs that force them to the edge of burnout. They prefer to work to live (not live to work).

Unhealthy Work Environment

In a Harvard Business Review study, 60% of participants said the cost of going to the office outweighs its benefits. If you require in-person staff, ensure the space you’ve created is both welcoming and respectful. Otherwise, they might quit before going back.

Building a healthy work environment also means ensuring staff members treat one another with respect while on the job. A nasty comment, email or call could be just as damaging as a dreary office.

Lack of Career Development & Engagement

The American Psychological Association says 43% of employees typically feel anxious or stressed out while at work. For some, this involves a tense work environment. For others, it comes from a lack of support.

When employees don’t get training and educational opportunities, they can’t advance their skills. A lack of development and growth opportunities can quickly impact their dedication and commitment to an organization.

Outdated Compensation & Benefits Packages

Your employees expect to be paid for their time. While the Society for Human Resources Management says salary growth is expected to meet or surpass the inflation rate in 2024, some people want more.

A comprehensive benefits package for a modern employee might include:

Extensive paid time off
Mental health days
Flexible schedule
Comprehensive health insurance coverage

Avoiding High Staff Turnover: Practical Strategies

Now that you understand why people leave, let’s dig into how to avoid high staff turnover.

Understand Personality Types & Communication Styles

Companies with high turnover rates treat staff as a unit rather than remembering that every person is different. To avoid high staff turnover, get to know your employees better. Take steps to help coworkers understand each other more as well.

For example, some people appreciate small talk before difficult conversations. Others find casual chit-chat intimidating or even offensive. Similarly, some people need diagrams to learn difficult concepts, while others need to read the details.

Some companies use personality testing to understand their employees. They can share the results among teammates and further encourage collaboration. These simple steps can make for better communication and reduced turnover.

Embrace Digital Solutions

In 2024, an estimated 59% of employees work all in person. However, just 38% said they preferred this approach. Companies that don’t embrace the potential that digital tools enable could lose staff members due to their inflexibility.

Modern digital tools allow companies to distribute employees throughout the community (or the globe) without compromising security. Productivity tools ensure that employers can keep tabs on staff, even when they’re not in the office. And networking tools keep people connected, no matter where they are.

Embrace digital communication to engage today's employees and keep them happy.

Examine the Workplace

The American Psychological Association says workers perform better in spaces where they feel comfortable expressing themselves and their opinions. Employers are required to build this safe space through care and compassion.

Empower your staff to elevate problems to their supervisors and get a solution. They should also participate in productive team environments that leave them feeling appreciated. From onboarding to retirement, they should be encircled with this feeling.

Create Clear Development Plans

Of successful companies, 43% support their people in pursuing their career path. By contrast, many employees want help in building their skills for their next job. From onboarding to employee evaluations, your staff members should be enabled to develop their skills and grow their talents.

Modern employees may not appreciate a rigid path. Instead, they may want opportunities to change direction based on the market, their age, and more. To keep them from quitting, ensure that you’re just as flexible as well as supportive of their overall growth.

Compensate Your Staff Well

Your employees deserve to be paid fairly. However, money isn’t enough to show them how much you value them. Offer a complete benefits package, even if you're unable to offer healthcare. A complete benefits package should include things like performance bonuses, time off, flexible scheduling, and more. If you pay less than the competition, it’s likely that your staff members will leave.

How Your Business Type Impacts Staff Turnover

The type of business you run has a large impact on staff turnover as well as the methods you’ll use to keep your employees.

Large Corporations

Your advantages in retaining staff include the following:

Established hiring and onboarding processes
Structured career progression
Plenty of advancement opportunities
Extensive employee resources

Your disadvantages in retaining staff include the following:

Potential bureaucracy
Lack of flexibility
Inability to know every staffer personally

Large corporations should focus on personalizing employee experiences through development plans, recognition, and mentoring programs to help strengthen their employee experience.

Startups

Your advantages in retaining staff include the following:

An innovative environment
Plenty of opportunities to learn and grow
Fast-paced work environment
High levels of involvement in company growth

Your disadvantages in retaining staff include the following:

Uncertain market changes
Long-term security comes with risk
Potential compensation droughts

Startups should offer creative benefits (such as flexible schedules) to engage employees, emphasize their importance in company success to their mission, and expand on their engaging and innovative culture.

Small Companies & Franchises

Your advantages in retaining staff include the following:

Close-knit teams where staff members get to know one another well
Opportunity for growth and development
Easy to demonstrate care for each employee

Your disadvantages in retaining staff include the following:

Financial constraints that can limit employee benefits
Potential need for in-person work and rigid schedules
Lack of structure and processes

Small companies and franchises should focus on building strong relationships with all employees while using cross-training opportunities that a small team could benefit from and providing advancement for team members while building a sense of ownership.

Expert Tips and Insights to Increase Employee Retention

Following a few basic tips can help you to reduce high staff turnover and maximize your opportunities. Our top tips include the following:

Emphasize onboarding. Create a structured process that sets the tone from an employee’s very first day. They’ll know what to expect from all aspects of the job, and this clear communication sets the right tone from the start.
Recognize your employees. Ensure your staff gets regular feedback, so they can learn and feel valuable.
Explore cross-training. Leverage and use cross-training opportunities so employees can learn more and become well-rounded members of the teams they join.
Focus on overall well-being. Promote and engage all forms of well-being to help increase employee satisfaction and reduce turnover.
Build your brand. Create and promote a culture-first company where employees want to work for you.