Management: A Cure Against Turnover in BusinessReduce turnover with effective management strategies.
Discover how managerial skills and assessments strengthen the stability of your team.
Staff turnover, a costly and destabilising phenomenon for companies, can be mitigated if not controlled. Competent managers, combined with a proactive approach, can significantly reduce staff departures, thereby having a direct impact on the company’s profitability.
How can turnover be reduced?
The figures back up our argument – develop the loyalty of your employees by being proactive.
Creating a Positive Environment: A good manager, by fostering a positive working environment, can help to improve engagement, thereby reducing the risk of staff leaving.
- Skills and career development:
According to the Society for Human Resource Management (SHRM), 31% of employees cite a lack of career development opportunities as one of the main reasons for leaving. Managers investing in training can reduce this risk, helping to reduce turnover.
- Communication and Active Listening:
According to a Harvard Business Review survey, 70% of employees believe that effective communication is the most important attribute of a good manager. Open communication channels reduce the likelihood of misunderstandings, fostering an environment where employees are more likely to stay.
- Inspirational Leadership:
According to a Deloitte study, 94% of employees working under inspiring leadership are more likely to stay with their company. Managers play a crucial role in creating an engaging and motivating corporate culture.
- Conflict and Stress Management:
According to an analysis by SHRM, 65% of employees indicate that inadequate stress and conflict management is a major cause of departure. Managers skilled in conflict resolution can help reduce this figure, creating a healthier working environment.
The figures don’t lie, and they underline the crucial importance of management in reducing staff turnover. Investing in the development of managerial skills and promoting positive leadership are not just strategies, but imperatives for companies wishing to maintain a stable, high-performance team. The figures clearly show that the momentum generated by good managers is not just an aspiration, but a necessity if we are to thrive in today’s business world.
How can we help managers as effectively as possible?
Managers rarely have the capacity to manage all these skills intuitively and spontaneously. Companies today are investing more and more in the assessment of managerial skills to support managers where they need it most.
Colour tests have been widely used in companies as a first tool to make managers aware of their need for agility and adaptability when dealing with employees. The Assess Manager management test dedicates part of its report to this approach. But this is not enough, even if it is the essential first step.
This first stage needs to be completed by the assessment of managerial skills, which is found in the second part of the Assess Manager test report.
The dynamic created by good managers has a direct impact on staff turnover. Investing in the assessment and targeted development of managerial skills and promoting positive leadership are essential strategies for reducing employee attrition. Companies that recognise the importance of management in retaining talent are better positioned to control turnover these days.
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