How can companies deal with high staff turnovers?

Today, many organisations are increasingly facing a challenge of staff turnover. How can a manager deal with the issue? Mark

Dear Mark,
Today, employee exits is one of the key issues that many organisations are increasingly facing. Getting the right people with the right skills is a costly venture. This precisely explains why retention measures should be prioritised.
As a manager, whether it is a result of your own making or external factors, you can control employee departures. Start by assessing what makes people leave and find solutions by measuring the impact of the exits.
Cognisant of the fact that unplanned resignations can be costly, it is advisable that common causes of staff turnover are assessed for meaningful solutions. In most cases, many of those who leave do so because of pay.
Although good pay motivates people to stay, it is not the sole reason for departures much as low pay also limits retention.
Some people, for instance, can leave due to poor leadership, job insecurity, limited space for growth and poor working conditions, which management keeps ignoring.
You can control this through approaches such as regularly consulting staff, succession plan, replacement charts, and performance management. This promotes employee engagement where they can feel cared for and supported to work even harder.
Appreciating employees is also very important. Here, key performers are identified and rewarded as per the company’s reward system.