Who works with Human Resources (HR) knows how challenging it is to manage retaining talent in organizations. But when the company is a retailer, this challenge is made even more complex by its frequent employee turnover.
Even though it is not an unusual scenario or a surprise for tenants, turnover is an economic and organizational concern that must be corrected. To do this, managers can adopt the following tips to reduce retail turnover:
- develop a strong organizational culture;
- invest in the training of employees;
- invest in the Employees' Career Plan;
- offer development feedbacks;
- challenge your talents constantly;
- pay attention to the mental health of employees;
- understand which benefits are most important to employees.
According to a survey by Mercer, the state of São Paulo registered 74,159 admissions and 68,832 dismissals in 2021, creating 27,485 jobs in retail. Turnover was 4%, a very significant level.
To know the details of these special tips, keep following the post. Learn how to control retail turnover and overcome this challenge. Good reading!
What is Turnover?
Turnover is a technical term in the HR field, which means in a literal translation from the English language “renovation”. However, in its practical use, the term refers to turnover rate of an organization's employees.
In addition to calculating the volume of talent entering and leaving the company, the turnover still works as a index that measures the well-being of the organization. In other words, it allows issues such as satisfaction, commitment, organizational climate, culture, balance between personal and professional life, remuneration, among others, are analyzed.
When elevated, turnover can be considered a critical factor. This is because the company's political structures will need to be revised, productivity is compromised and the financial resources in processes of recruitment and selection are significantly expanded.
In the case of the retail sector, this concern is even more constant. Later on we will explore some tips to reduce retail turnover.
What are the main causes of employee turnover?
According to the recruitment consultancy Michael Page, eight out of ten professionals quit because of the boss. Poor or underperforming performance for a leader it seems to be the main factor of contractual breaks or demotivation in employment.
In addition, other common reasons for resignations are:
- Wage policy;
- Benefits policy;
- Type of supervision exercised over employees;
- Lack of opportunities for professional growth;
- Type of human relationship within the organization;
- Physical environmental working conditions;
- Organizational climate;
- Organizational culture;
- Training criteria and programs;
- Disciplinary policy;
- Criteria for evaluating performance and feedback;
- Degree of flexibility of organizational policies;
- Need for new challenges;
- Problems with interpersonal relationships.
Managers must understand that their performance is directly linked to the well-being of the workforce and, consequently, their permanence in the organization.
In addition to his professional posture, the adoption of strategies to improve the quality of life at work, the team's relationship and the sharing of personal values.
If you want to understand if the offer of benefits is enough to reduce employee turnover, we recommend reading this article here.
What are the disadvantages of high turnover?
As we have seen so far, turnover is a rate of turnover, which when high, can compromise organizational contentment. This is because it compromises the financial system and the organizational structure.
Thus, one of the largest expenditures for high turnover is the cost. The whole process of admission style=”font-weight: 400;”> it's from resignation it has an expense for the organization, which makes the uncontrolled repetition of these practices a problem for the financial flow.
In addition to destabilizing pecuniary control, there is a perception that waste of resources. After all, this investment could be used in technical training courses for the workforce, improvement in physical space, and so on.
In retail, these costs are even more frequent and, in most cases, the organization is caught off guard making this expense even more significant.
The employee's replacement time, investment in trainings, the development of its culture, formation of new leaders, are some examples of the processes compromised by this instability.
It is clear the impact of this constant transition on the evolution of the organization. Achieving the mission and vision, preserving its organizational values, becomes an even more complex dream.
To control retail turnover and preserve your business, we’ve set aside some special tips that we’ll cover below.
What are the main tips to reduce retail turnover?
To help you reduce retail turnover and protect the development of your business, we have separated some important tips. Check out their details below.
Develop a strong organizational culture
When the organizational culture is strong, the workforce is able to see the company more broadly, understanding its fundamental pillars, goals shared values, structural values and work policies.
In this way, they feel more integrated and truly an essential part of the organization. Consequently, impulses to change jobs are controlled.
Invest in employee training
Another important tip to reduce retail turnover is to invest in training the workforce. The offer of training, courses, workshops, lectures, among many other professional qualification practices, reflect the interest and appreciation of the workforce, making it more committed to the business.
In addition to showing interest in the development of employees, the company also strengthens the expertise of the work teams, enhancing their chances of commercial growth.
Invest in the Career Plan of employees
One way to motivate the workforce and thus reduce retail turnover is to develop career plans individual.
Guided by the ambition of significant promotions, salary improvements and having personal reasons for being in their current jobs, which go beyond paying bills, employees remain loyal to the organization.
Offer development feedbacks
The feedback culture is an exceptional strategy to control retail turnover. In addition to knowing the particular progress of each employee, the company demonstrates that it closely follows the evolution and work of each one.
In this way, managers gain a direction to structure training strategies and employees feel recognized and motivated to achieve increasingly expressive results. Public acknowledgments for notorious works they are also important measures to encourage the workforce.
Challenge your talents constantly
For talent retention to be successful, managers must also structure opportunities for employees to show their potential. The creation of challenging situations, but possible to be carried out, encourages employees to prove their value in the organization.
In addition, the offer of expressive prizes, such as trips, extra days off, money in monies, exclusive courses, among others, reinforces this healthy competition.
Pay attention to the mental health of employees
Another key tip to avoid retail turnover is take care of employees' mental health. In the retail sector, it is common for employees to spend hours standing up, being in contact with customers – who may adopt unpleasant postures -, perform a relevant volume of services, face stress and pressure, among others, which influence their well-being. subjective being of the employee.
By extending care such as attending psychologists, yoga and meditation classes, a pleasant organizational climate, employees begin to value the company and recognize their humanized care
Understand which benefits are most important to employees
Just as managers need to know in depth the preferences and demands of customers in order to offer suitable products and stimulate retail sales, it is also important that they understand the needs of employees.
For this, you need to listen to the workforce and identify which ones benefits more attractive and interesting for them. Thus, the offer of advantages in relation to the market becomes more assertive and will certainly influence turnover.
As much as the turnover is something that scares many managers, it should not be treated only negatively. When this indicator is well controlled, the entry of new employees can bring new gas to the team.
With the tips given in this article, your company will certainly be able to control retail turnover and take advantage of this positive side.