Employee turnover reduction formulas || 10 game-changing secretes

Employee turnover reduction formula

Employee turnover has been a big challenge for companies. Are you worried about employee turnover? That some untrained fresher get training in your company and then leave. Are you wanted to reduce employee turnover ratio in your company? Then this article will help you to reduce employees’ turnover with least or no investment.

 Employees either live and grow or they will leave and go. 

 Business has two main basic problems

• Competition
• Attrition

Competition: Competition brings outer problems. Means it is around us/environment on the other hand attrition occurs in the internal environment of a business, company or corporation.
Attrition: Attrition is how many employees leave your company or business.

Let me give an example to demonstrate the two.
 A company, which greets his employees, for example, Tata company employees become his son in law. They never want to leave such a company.

 How do so happens:
 Let us penlight this reason

 Maggi: 

 Top companies of the world such as Google, Apple, Facebook, Lenovo, IBM and Intel etc. serve them, Maggie. They don’t raise high income instead they give their employees Maggie.

Yes the Maggie is the main reason those companies.

But what I mean by Maggie?
Is this the original Maggie?
Is this eatable?
The answer is absolutely

No

Maggi means :

1.     Pick and Drop Service

Suppose you have an employee who has no car or bike to reach the office. If you serve him, pick and drop service and ask him, if he shows loyalty to the company he will be given a bike a year after.

How you can do so?
It can be done as:

Fifty percent by the employee and fifty percent by the employer. Cut fifty percent of the employer when he/she promotes from his/her first income.

2.     Break

  Break for 20 to 30 minutes assemble all your employees in a single room or hall and serve them eatable such as tea, green tea, coffee, snack and Maggie etc.

You may be surfing them at their worktable but it not as effective as in gathering. Because gathering induce a proper environment of eating, increase their mutual understanding. The will become a friend.

Are you want to leave a company in which your friends live?

3.     Timely Salary, Promotion, Bonus and Appraisal:

  Salary delay is the main reason of attrition. Because it generates a long chain of delay:

Representative pay delay => business person deal delay => agency deal delay => organization production delay.

4.     Insurance:

• Accidental Insurance
• Life Insurance
• Medical Insurance

  We are aware of the increase in diseases. Due to harmful foods in market.

Innovation is human effort and diseases are innovations efforts.

Make deal with insurance companies for low price insurance policies.
Suppose medical insurance requires $200 for each individual. If all your employees fill insurance, then insurance company will concise you, ten to twenty percent.
This requires no money investment it is due to only your company and employee newer give up your company.
 Divide premium between employee and employers.  

5.     Work from Home or Flexi Schedule:

  If an employee has any office work, which he/she can do at his/her home. Let him/her do at the house. Because it saves employee time, office tea, electricity bill and many other things you can think. You can also serve your employees with a flexible time schedule with respect to your business. Such as 7:00 to 2:00 or from 2:00 to 11: 00 if your company remains open.  

6.     Scholarship for Employee Child:

  Assure that, if an employee services ten year for the company, the company will donate fund for his/her son’s or daughter’s marriage or any other important life event.
You have to make a scheme for it among employees.  

7.     Grocery to Blue Collar Employees:

Low-level employees such as driver, peon and office boy etc. Make little pockets of ration for them.  

8.     Benefits against Contract:

If your employment requires a car, laptop, bike or any other thing. Make a contract as;
 If you serve for the company for 2 years, we will give you laptop or what he wants.  

9.     Interest-Free loan for emergency and adversity:

You can give his/her few months’ income as an interest-free loan.

Think that your employee is not for, to gain profit, the employee is used, to gain profit from customers.

Human remember two types of persons
 "One who supports in difficulty and the
 Other who gives pleasure".

If you care for him, he will act as a Magnet to attract customers.  

10.   An additional Week-off with Every Year Complete:

  If an employee completes one year of service let him enjoy one week off. If he completes two years two week off and so on.
 These were the Maggies.

These tips and techniques will force your employees to be a loyal employee and they will ultimately grow your company at high speed and high performance.

The committed employee has no cut. You have to inspire them. But

Only Inspired people can inspire people.

Motivated person can motivate a person

Summary:

1. Pick and drop accommodation
2. Tea, Coffee and snacks counter
3. Timely salary, appraisal, bonus and promotion
4. Insurance
5. Work from Home/ flexible schedule
6. Scholarship
7. Free grocery to blue collar employee
8. Benefits against contract
9. Interest free loan for emergency and adversity
10. An additional week off with every complete year.

These were the Maggies that are used by clever companies in order to reduce employee turnover.
You may think in view of these points that, what Maggies should you create on the basis of your business type.