How to Avoid a HR Nightmare
How to Avoid a HR Nightmare. 30% of employees quit before making the half year mark. This type of turnover is very expensive in terms of money but also your time.
It’s best to hire the best possible fit and pay the most you can and if money becomes an issue add other benefits that work in retain the employee or contractor.
Keep in mind that people quit managers not companies.
1. Be a leader in Compensation and Benefits
50% of employees are motivated by money and will stay in their job for these reasons. The other 50% crave stability, benefits and engagement from the employer. If you can make them feel wanted and needed you can keep the other 50%. Pure financial compensation is not the the only motivating factor.
2. Hire the Best person and pay more if you have to
Look for the best fit not how much you can pay them. If 1/3 of your employees are going to turn over try to reduce that by hiring better fits and people that aren’t quitters.
Don’t turn away a AAA employee for a few thousand dollars.
3. If you cannot afford to pay a higher salary or rate, add in benefits to empower
If 50% of employees or contractors are motivated by non-financial reasons work on those. It’s better to keep happy people if you can pay them less and give them more time off that are benefits or simply engage them in decision making processes along the way.
4. Hire self starters over employees or contractors who need step by step instructions
5. Delegate and use Internal Controls to Manage, Micro Management does not work
Now that you’ve hired yourself motivated people do not micromanage them. I have internal controls and reports that they can live up to. Set goals and ensure that they meet them rather than micromanage him along the way. Allow for some failures and learn from them and let the employee or contractor grow from their mistakes.
6. Involve all Employees or Contractors in Idea generation and Round Tables, no matter what level
More and more environmental and social issues are becoming paramount in the workforce. Employees would rather work for the employer that they are proud of for less money than work for a company that is destroying our environment or social values. Try to align yourself with social issues and charities to retain employees as they will feel dedicated to these charities and movements.