8 Ways Your Business Can Manage High Turnover

Every business, regardless of scale, has to deal with employee turnover. Even the most successful businesses face employee turnover at some point, as staff come and go regularly. Because finding and training a replacement requires time and money, it is to your company’s benefit if you try to limit employee turnover.

Employee turnover has a huge impact on any company’s trajectory, and you’re not alone if you’re having difficulties with it. Staff turnover is a problem that even the most experienced businesses face. The majority of business owners and corporate leaders do not pay attention to employee turnover until it becomes a costly issue. This is, of course, a counterproductive strategy.

As the economy continues to slowly recover from the pandemic, a greater proportion of employees may look for better opportunities in other companies moving forward.

Why are employees leaving?

As per the Bureau of Labor Statistics, three out of five persons who leave their job are actually quitting as opposed to getting fired or laid off. More often than not, people leave their jobs not because they found a  new or better opportunity in another company but because they are unhappy in their current position.

Employees will struggle to be effective, productive workers who take pride in their jobs if they are not constantly provided the attention and resources they require to prosper in their profession. As such, they may grow dissatisfied and frustrated, which leads to giving up and departing.

The average annual turnover rate, according to a LinkedIn survey, is around 11%. Add in employees who would have changed jobs during the pandemic but didn’t because they were afraid of losing their jobs, as well as employees who seek more flexibility than their current employers can offer. All of this sums up quite a lot.

How much is the cost of high employee turnover?

Employee turnover is costly. Some costs, such as the expenses related to finding and onboarding a replacement, can be quantified in money. These costs are estimated in a variety of ways.

According to research; replacing a paid employee costs six to nine months of that person’s yearly salary. Other studies suggest those figures could be substantially higher, especially for high-wage jobs.

Other economic costs associated with turnover may include missed clients and revenue, as well as overtime expenditures for other employees who do extra work until a replacement is found.

Here are numerous other indirect costs your organisation should prepare for when someone quits.

  • More workload
  • Reduced employee morale
  • Less engagement
  • Rise in absenteeism
  • Risk for burnout
  • Decreased productivity
  • Possible loss of institutional knowledge

That said, effectively managing turnover and enhancing staff retention may save you a significant amount of money.

8 Efficient Ways Your Business Can Manage High Turnover

Here are suggestions for slowing down your company’s revolving door. The goal is to motivate your finest staff to stay with you for the long haul.

1. Analyse the turnover

Changing something you can’t measure can be challenging — that’s why it’s crucial to collect data carefully, keeping in mind that not all turnover is created equal and that how you evaluate employee turnover matters. People leave their jobs for different reasons, so it’s not wise to generalise the reasons for employee turnover.

When employees leave, you must assess your knowledge of the reasons for their resignation. Keep in mind that you could also gather qualitative data through engagement surveys and other methods.

You can seek employees’ inputs openly or use tools that assist organisations in gathering feedback anonymously. You could even search Glassdoor for common sentiments of employees regarding workplace culture and see if they somehow mirror what goes on in your organisation.

2. Find and hire the right fit

Hiring the right staff is the first step in retaining employees. Employees with exceptional talents that fit your open position are likely to get hired.

But, how well do your staff fit into your company culture? While having the necessary work qualifications is important, that is only one aspect of what makes someone an asset to your company.

Matching a candidate’s values, objectives, and goals with that of your company is also vital. For instance, if you require someone who can take on more duties, a candidate seeking training and professional development could be ideal.

When an individual’s strengths and interests suit their job and the company’s overall needs, mutual success and satisfaction happen more naturally. Such employees are more likely to be engaged, productive, and less inclined to hunt for another job. Finding a good fit may take a little longer, but it’s one of the most important things you can do for your employees’ long-term happiness as well as your own.

Use smart onboarding

Getting your new hires off to a good start will help them stick around. A well-thought-out onboarding process ensures that a new employee has a positive first impression of your organisation. But it takes more than just making a strong first impression to help them succeed.

It requires a personalised onboarding approach tailored to the needs, job, and performance goals of the employee. In a nutshell, you should assist them to grow and flourish over their initial weeks and months at your organisation.

4. Employ recognition strategies

It’s our nature to want to do things for which we will be rewarded and recognised. Rewards and recognition demonstrate to your employees what your firm values in their behaviour and assist them in achieving success, resulting in increased job satisfaction and loyalty.

Employees who feel valued and appreciated are more likely to stay with you in the long run. As such, meaningful employee appreciation initiatives should be a top focus in your entire employee retention strategy.

5. Offer competitive compensation and benefits

Everyone seeks to be compensated fairly. Most of us pay for necessities such as housing, utilities, and food. Most people also desire enough money to spend on frills. If you don’t pay your staff well, they’ll go work for someone who does.

It’s a good idea to conduct wage market research when determining compensation packages for your personnel. Find out how much your competitors are paying their employees and implement a salary range that is at par with those holding similar jobs.

6. Showcase the career path

Employees who remain stagnant at work may look for another position if there is very limited opportunity for them to improve their skills and knowledge. Presenting a projected career path to employees provides them with a sense of direction and purpose.

By outlining a clear career path for your staff, they’ll know how they can advance from their current position. It could be an upward or lateral movement. Alternatively, your staff can gain additional responsibility in their present role. Whatever it is, make it clear to your employees how you can help them achieve professional development.

7. Allow flexible working hours

Nowadays, employees want a flexible work setup where there is harmony in their personal and professional lives. Work-life balance has a direct impact on retention. As more and more businesses are becoming aware of this, failing to provide employees with flexibility in terms of work hours and location may compel them to quickly search for work elsewhere.

Allow for flexible work schedules if at all possible — let your staff pursue interests outside of work, attend appointments, and care for their families. If you need them to be at your business at specific times, you can still offer other forms of flexibility, such as offsetting schedules.

8. Cultivate camaraderie

Building good rapport and strong relationships with the people who work for you can serve as an incredible employee retention factor. Begin by developing a culture of mutual respect and an environment that fosters friendships.

Additionally, you must ensure that each team member feels a sense of psychological safety, knowing that their ideas will be acknowledged, thoughtfully examined, and never ridiculed.


Final Thoughts

High turnover is a problem in so many businesses, but it doesn’t have to be in yours. Any of these strategies have the potential to boost employee retention and keep you ahead of the game.

One of the most effective methods to improve your team’s work experience is to reinforce the value that their contributions provide to your organisation. Spread cheer and happiness regularly. Implementing peer-to-peer recognition is also effective.

It’s one thing to claim you’re committed to developing a solid corporate culture or that your staff are your most valuable asset, but do you really mean it? You don’t have to succeed in every endeavour, but you do have to show your efforts. Aim for constant progress in making your company a great place to work.

Ralph Wintle - Profile

Posted by: Ralph Wintle

Ralph is the Head of Product for Earlypay, an invoice finance platform. Having been in the industry for many years now, he writes content that aims to help small businesses grow.

 

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9 Local Link Building Strategies To Exploit Today

Local link building is the core of many digital marketing strategies, and it’s easy to see why. As search engines build their algorithms around links, mentions and authority, the chance to work within that framework and build your presence online in your area whilst also providing valuable insights to readers seems like an obvious boon. What is less obvious, however, is how one actually goes about doing this successfully.

Although working with a specialist local link building agency is the easiest and most direct way of improving your strategy, that doesn’t mean there aren’t things that you can do on your own to gain local traction on search engines using your links. So, today we’re going through a few of the ways that you can drastically improve the power of your link building without too much in the way of additional costs.

Before we begin, however, there is a question that we need to touch on:

Why is Link Building Difficult to Do Correctly?

While very effective, link building can be quite difficult to actually get solid information on. Whilst some will say that links are the only way to improve your SEO and hit the top of Google’s rankings, others will say it has been dead for years and is a waste of time. As someone who has spent the past 5 years providing comprehensive link building services to businesses across the globe, I can say that neither of these approaches is entirely correct.

In terms of the first point, whilst I agree that links are a fantastic part of any SEO strategy and can often make or break a site’s ability to rise above competitors, it is by no means the only thing required. A terrible, poorly-optimised site with no on-page content is unlikely to rank no matter how good its backlinks may be. Search engines like Google want to direct users to the best possible resources for their queries and to hit that first page, you need to make sure your website is providing that before you start building authority through links.

The second point is, to put it nicely, completely unsubstantiated. People have been saying link building is dead for over a decade now, and no matter how many times this idea is espoused, links continue to be effective and valued by search engines. In many cases, those repeating this idea mean that low-quality link building is dead, and that’s true. Whilst, in the 2000s, people could spam links all over the place with little rhyme or reason, search engine algorithms have become more complex and advanced over time. This means that those who aren’t willing to put in the work are likely to get penalised if they’re even acknowledged at all.

With that in mind, this leads us to our first strategy:

Submitting Yourself For Local Awards

Simple, efficient and effective; submitting your business for local awards is a fantastic way to show off your business within its own area. If you manage to get cited on the award website, this is a great way to get a free link whilst also showcasing that you are within this area to search engines. Not only that, but you may even win an award which, if you’re exclusively doing this for SEO purposes, is just a nice added bonus.

Becoming a Local Resource

Whilst link building often involves mimicking the natural link profile of a growing business for search engines, that doesn’t mean you can’t do things the old fashioned way. By creating a local resource page on your site, you can get links naturally from people discussing the area, whilst also tying yourself to your local area in the eyes of search engines. These pages can be anything from blogs on things to do in the area, important resources available in the area, local fun facts, or even simple directories.

See If Your Place of Education Offers Alumni Links

Some of the most coveted links in link building are university and government website links. One of the more common ways to get these types of links is reaching out to your university, if you went to university, and seeing if they’d like to showcase your business. Universities love bragging about the achievements of those that have gone there, so why not make those student loans a little more worthwhile?

Place Yourself in Local Directories

Search engines like Google have a number of ways of determining your placements in their listings, and one of the most effective foundational methods of building up your online presence is by putting your business in local directories. This is a quick, often free way to get your link building started, and while it not be as effective and growing your DA or authority as other methods on their own, it’s great for helping search engines understand where you are and what your field is. This, in turn, will make it easier to rank for relevant terms in the future.

Create High-Quality Guest Blogs on Local Sites

Although link building is still considered its own little niche in the copywriting world, the truth of the matter is that search engines crave quality content. This has led to outreach link building effectively becoming a form of journalism, requiring a high level of skill and literary prowess for those that are looking to truly reap its rewards. So, if you’re going to Fiverr for all of your content and taking a quantity over quality approach as many business owners attempt to do, you’re unlikely to get what you’re looking for.

Finding The Right Websites to Post On

This process starts with finding quality, authentic blogging sites within your local area, and ideally, within your niche. After all, search engines are all about categorising sites, and the easier you can make it for an algorithm to know where you’re meant to be placed, the easier it will be to rank you for relevant terms. With that said, this doesn’t mean that you always need to get granular with your choices.

For example, a toy company doesn’t have to build links on toy-based blogs in their exact suburb exclusively; they would just have to think about the types of blogs in which their services would seem a natural fit and the broader area in which they reside. This may include everything from childcare blogs to collector blogs, early development blogs, gaming blogs, and the list goes on.

The Writing Process

Once you know who you’re writing for, you then have to find an angle that matches your services with the expertise of the site you’re trying to post on. From there, it’s time to start writing. Some things to keep in mind include:

  • Whether you’re writing on-site blogs or guest blogs, longer-form content is generally going to be preferred. Try to set a minimum word count of approximately 800-1200 words depending on the subject matter.
  • Make sure your linking keyword is contextually relevant; search engine algorithms have ways of determining whether a link makes any sense regarding its placement in a piece, and you don’t want to run the risk of coming off as spammy.
  • Spelling and grammar matter. If you’re not a confident writer, you can work with a link building company, hire experienced copywriters to do it for you, or if you need to do it yourself, programs like Grammarly can assist you in many cases.

There is an art to this style of writing, and it’s essential to take it seriously if you’re looking to boost your rankings effectively. However, whilst guest blogging is one of the more effective link building strategies, there are ways to get links without writing articles.

Curated Linking

Every once in a while, you may stumble across a piece of content that you’ve read before, only to find that it has been updated with new links. Whilst this is sometimes the blogger going back to provide more context that will be relevant to readers, in many cases, it is what we call curated linking.

What is Curated Linking?

In short, curated links are backlinks that you have placed in older content. Whilst not necessarily as powerful a tool as guest blogging, it does offer some benefits that creating full new articles does not. Sometimes, sites will be hesitant to take full guest blogs and will otherwise prefer to place links in blogs that already exist for a fee.

The Benefits of Curated Linking

The main practical benefit of curated linking is the fact that you’re receiving historical links within blogs that have already had time to build page authority, which can look great in your link profile. After all, if it appears from an algorithmic perspective that people have been linking back to your website for years, it will seem more natural than you suddenly getting a large number of people linking to you in a short period.

Curated links also provide you with more options of places to post, allowing you to get links in places that would have been unavailable through other means. This is not to mention the benefit of it simply being a more affordable option than getting full articles written by professionals.

Doing this yourself as opposed to working with an agency will still be quite time-consuming, mainly due to the need to source posts on viable websites and make contact to discuss their willingness to link to you. However, it is an incredibly viable link building option for those who are willing to put in the work.

There are some cases in which this is made far easier, namely when you already exist in an article that has been published:

Making Use of Mentions

Say you happen to stumble across someone making reference to your site in a local article, but they’ve decided not to link to it or have simply forgotten to include you as a resource. This is often an opportunity to score a free link in an article that is, more often than not, incredibly relevant to your services.

All you need to do is contact the owner of the blog and request that the mention of your company, product, website, service etc., be linked back to your site whilst providing a URL to where you believe the link would be most relevant. This is simple, effective, and a great way to make initial contact with some local bloggers that may already be interested in your services.

For an easier way to find mentions, Google Alerts is a fantastic resource. There is also another tool, aptly called Mention, which offers this as its primary service.

The Broken Link Method

This is one of the more opportunistic options for link building, but the process is quite simple. Broken link building involves finding dead links in local blogs that would have once linked to competitors or similar businesses in the area. Then, either find or create relevant information on your site (generally in the form of a blog) and contact the site owner to see if they would be interested in replacing the dead link with your resource.

This is often a way to get free links on sites, but it is also difficult to do on a consistent basis without a lot of research. The number of dead links relating to your services will, in most cases, be relatively limited, and finding them can be tricky. However, it is an entirely viable method of sourcing links for those who are willing to put in the work.

As a side note, if you’ve restructured your site recently and noticed a dip in rankings, it may be worth going back and making sure that links you’ve built in the past are still functioning. After all, a slight tweak to your URL structure can completely derail a lot of hard work when left unchecked, and you don’t want local competitors stealing your links.

Getting Resourceful

Going back to the idea of building local linkable page content, you can also create more complex, thorough resources for local blogs, writers and businesses to link to and from. Creating resources can take many forms, but the most useful style is infographics. Infographics are a simple, effective way of getting information across to readers, making them highly desirable as a source. There are two ways to use infographics to get links:

1. The On-Page Method

What are you trying to do when you manually create links? Well, to simplify it, you’re trying to mimic the natural process of acquiring links as people site you as an authoritative resource. So, why not become an authoritative resource? Placing an infographic on your site will provide you with the chance to court free links naturally and contextually whilst also positioning you as a genuine authority and resource within your field.

2. The Off-Page Method

Another way that some businesses decide to use infographics is by pitching them to other businesses altogether. This can be a mutually beneficial process where they get to post a fantastic resource on their site or in one of their existing blogs while you get citations as a reference.

Infographics take a lot of work to get just right, but it’s well worth it if it means getting authoritative links and building up your brand image online.

~

Building up your local presence can take some time, but it’s extremely valuable in the long run, especially for brick and mortar stores. If you don’t feel you have the time or resources to take this on yourself, you can always work with a local link building agency or hire someone to help you with your online marketing. Whatever you end up going with, just always remember that quality is key, and you should be fine for the road ahead.

Posted by: Samuel Shepherd

Samuel Shepherd is a writer, editor, marketer, SEO specialist, musician, producer, reviewer, and all of the other things that you can be from the comfort of a computer screen. Currently based in Australia, Sam is always ready and excited to talk about the strange quirks and oddities of an ever-present online world.

 

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Easy-to-follow Digital Marketing Strategies for Business Owners

In the modern world, every company should be on the Internet. Being on the Internet is the fastest way to grow your business and have an explosion of sales. It is also an easy way to continually sell without having any salespeople around. A big factor in success on the Internet is your knowledge of digital marketing. You must understand what it takes to get customers online through various marketing channels. There are many considerations that need to be made, but here are some strategies that will keep you ahead of the competition when you are marketing online.

Know Your Desired Outcome

The first step to success is knowing your desired outcome. Your digital marketing campaign should always have a goal. Everything you do needs to be a means to that end. For example, if you want to start a Facebook campaign then you need to understand how this will fit into your overall goals. Without this fundamental understanding, you will be rolling around in a sea of nothing with no goals. So the first step is to set your goals.

Find Your Potential Customers

A business is nothing without customers. Before you find customers you have to know who they are. You have to be able to understand fundamental questions about your business such as the people you are targeting. You have to understand them at a deeper level so you know their behaviours and dreams. There are many hangout spots on the Internet, and you should be able to understand where your potential customers are hanging out. By getting this information you are less likely to waste money on advertising to people who aren’t your customer base.

Related Article: 5 Tools To Boost Your Conversion Rates

See the Competition

Once you have figured out your customer base, then is all about knowing your competition. Your competition will play a large role in whether you are successful or not. After all, they are fighting you for the same customers and your success depends on your ability to out match them. Winning on the Internet means researching your competition and seeing what their strengths and weaknesses are and how you can take advantage of those weaknesses.

Delegate to Your Team

Utilising your team is also essential in the digital marketing realm. Making sure that everyone on your team knows their role will help things move smoothly, and the team will be like a good world machine. Making sure that the people assigned to certain roles have expertise will also help things go along faster.

Use Search Engine Optimisation and Marketing

Search engines are often the best ways to get traffic to your website. Most people start their search online with a search engine. There are multiple ways to utilise search engines to find customers. You have SEO and SEM. You can either by advertising spots on various keywords or you can optimise your website to rank near the top of a search engine. Both methods have potential downsides, but also an amazing upside. For example, you can get traffic instantaneously by using SEM or you can build long-term traffic for free with SEO. Both strategies should be a critical part of your marketing endeavour.

Be on Social Media Sites

Most people hang out on social media sites. Having a strategy for marketing to people on social media sites will take your digital marketing efforts far. You have to understand the platform and know what to do and what not to do. For example, sending inspirational images on Instagram could help boost your traffic immensely. On other social media sites, this would not work. Being able to match the strategy with the social media site is a critical part of your success.

Related Article: How to Boost your Social Media Using WordPress

Have Great Content

Content is how people interact with your website. You need to have great content that resonates with the reader in order to keep them engaged. If they don’t finish your content, then you won’t get them to stick around long enough to be a customer. Having content that will keep them around should be your top priority. Hiring dedicated content marketing staff can also be helpful.

Don’t Forget Their Mobile Devices

Most people browse the Internet on their mobile devices. Your website and other digital marketing campaigns must be mobile-friendly. This means they should load quickly and display correctly when being browsed from a mobile device.

Send Them an Email

Email marketing should be a fundamental strategy for your business. Having their emails allows you to reach out to them and build trust and a long-term relationship. This will help you when you go to ask for the order later. Email marketing is one of the few ways to truly have your own customers online.

Use Analytics

Understanding analytics will help you get very far in Internet marketing. Analytics is the data collected from user information. This can tell you trends and how certain visitors behave on your websites. Using this information, you can optimise your websites to improve conversion rates and your ROI.

Digital marketing is difficult. However, by following these easy to understand instructions you can build your own empire online. As a business owner, crushing the competition will become easier and you will be able to outperform them no matter the channel.

 

Silva Web Designs - Profile

Posted by: Silva Web Designs

Nathan is the Founder of Silva Web Designs. He is passionate about web development, website design and basically anything digital related. His main expertise is with WordPress, Magento, Shopify as well as many other frameworks. Whether you need responsive design, SEO, speed optimisation or anything else in the world of digital then get in touch. If you would like to work with Nathan, simply drop him an email at [email protected]

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