Today, talent retention is a major concern for businesses. Is it for you as well? Facing often costly and destabilizing turnover, it is crucial to adopt effective strategies to maintain and strengthen your employees' engagement. In this article, we will discuss the most common methods to reduce turnover. Whether you are an HR manager, business leader, or manager, these strategies will help you create a more fulfilling work environment where every employee feels valued and motivated to contribute to the organization's success. Follow us to transform turnover into an opportunity for growth and talent retention.

Understanding Turnover: Definition and Key Figures

‍Turnover has become an indispensable indicator for companies to track. It measures the rate of employee turnover. It is calculated by taking the average number of employees who have left and arrived during a given period, divided by the initial number of employees. For example, with 12 departures and 24 arrivals for a base of 100 employees, the turnover rate is 18%. This metric is particularly important in the current job market context, marked by significant labor movements. According to DARES, in the first quarter of 2022, 469,600 workers resigned from their permanent contracts in France, a figure up 20% compared to the end of 2019. An OpinionWay survey for Indeed indicates that 35% of employees, and even 42% among those under 35, express a strong desire to leave their jobs.

The Consequences of Turnover

‍The repercussions of high turnover are not negligible, ranging from financial losses to major organizational consequences. The consultancy firm Robert Walters estimates the cost of a failed hire between 100 and 150% of the annual remuneration of the collaborator. Moreover, significant turnover can degrade the company's image, impact productivity and team morale, and lead to a loss of essential skills.

The reasons for turnover vary, including factors such as a degraded social climate, dysfunctions in human capital management, poor alignment with the company culture, management issues, lack of career advancement opportunities, more attractive offers from competitors, excessive workload, or insufficient remuneration. More than half of the employees leave their positions due to a lack of recognition and valorization in their work. This diversity of causes requires well-targeted strategies to effectively manage turnover and promote talent retention.

Key Strategies to Reduce Turnover

Improving Working Conditions and Environment

‍To effectively reduce turnover, it is crucial to pay particular attention to working conditions and the work environment. This includes not only the ergonomics and physical comfort of workspaces but also access to modern and efficient digital tools. Well-appointed relaxation spaces, ecological initiatives, and original equipment such as sit-stand desks can significantly improve the daily well-being of employees.

It is also important to ensure a good temperature in the premises, optimal accessibility of the offices, and the availability of quality amenities. These elements, although sometimes considered secondary, play a key role in the overall satisfaction of employees and, consequently, in reducing turnover.

Rethinking Internal Management Practices

‍Inadequate management is one of the main reasons why employees leave a company. To counter this, it is advisable to adopt management styles that value trust, accountability, and empowerment of collaborators. Active listening and constructive feedback are essential managerial skills to maintain a positive and motivating work environment.

In addition, implementing management by objectives and good workload management are essential to prevent stress and promote a healthy work climate. Managers must be trained to recognize and respond to the individual needs of their teams while promoting open and transparent communication.

Optimizing the Recruitment and Integration Process

‍The recruitment and integration process is a key moment in the relationship between the employee and the company. Successful integration can strongly influence a new employee's decision to stay with the company. It is therefore important to ensure that new employees receive a warm welcome, adequate training, and personalized support.

To optimize this process, it is appropriate to implement effective onboarding procedures, including a detailed presentation of the company, meetings with teams, and ongoing training to ensure skill development. Managers and HR teams must collaborate closely to ensure that each new employee understands their responsibilities and feels integrated and valued from the start of their journey with the company.

How to Retain Your Employees to Reduce Turnover

Value Your Employees to Retain Them

‍Valuing your employees must be a fundamental pillar of your retention strategy. This involves recognizing their work and contributions, but also offering prospects for career advancement and professional development. Establishing a dedicated space for internal mobility and developing tailored training paths are effective ways to show employees they have a future within the company. Using talent management solutions to identify and develop technical and managerial skills is also important. These actions demonstrate the company's investment in the potential of each employee, thus strengthening their sense of belonging and commitment.

Work on the Work-Life Balance

‍Respecting the balance between professional and personal life has become an essential criterion for employees today. Flexible hours and the possibility of teleworking are increasingly common expectations, when they are not considered as given. Innovative companies like LDLC have introduced bold measures such as the four-day workweek or unlimited holidays, demonstrating a willingness to prioritize the well-being of their employees.

In addition, initiatives such as Orange's "breathing leave" offer employees the chance to dedicate themselves to personal projects while being partially compensated. These modern approaches are not only appreciated by employees, but they have also become an important differentiation factor for companies in a competitive market.

Making Employee Engagement a Priority

‍Employee engagement is closely linked to their retention. In France, the engagement rate remains low, which underscores the need for companies to create an engaging work environment. Platforms like LumApps can play a crucial role in valuing and motivating employees from their integration, by promoting communication, collaboration, and recognition within the organization.

Conclusion

‍Retaining employees and reducing turnover is both an important and complicated part of your company's human resources strategy. However, it is essential to address it quickly. These strategies, in addition to meeting the needs and expectations of today's employees, contribute to creating a strong and attractive corporate culture.