Thanks to the availability of gig economy jobs, ever-changing and advertised positions through social media, and the overall fickle nature of millennials today, the turnover rate at companies is higher than ever before. Not afraid to leave companies and look for something better, the average millennial will job hop numerous times in their 20s, 30s, and 40s as this new age of virtual connectedness has emerged.
When you get down to the fine details, a new employee can take up to 2-full years to reach the same level of productivity as his/her predecessor. Additionally, it can cost an employer six to nine month’s of an employee’s salary to provide the proper training and educational investment. A study by Gallup even confirmed that this new fad of turnover is costing the national economy $30.5 billion per year – yikes.
As the Traffic Manager at your agency, it rests on your shoulders to manage workflow, communication, and other critical components of an individual employee’s overall happiness level. If you’re effectively trying to fight against workplace retention issues, here are a few ways to encourage everyone to stay put:
- Focus on Communication: Many studies show that individuals end up leaving jobs as a result of lackluster and confusing communication. When employees don’t know what they should be doing, or how they should be doing it, they devalue their time with the company. Most times, when work isn’t completed, it’s simply because the employee didn’t know what they should be doing. By investing in reliable and real-time communication that’s clear and articulate, employees will be less likely to leave.
- Distribute Work Fairly: Nothing is more discouraging than being assigned twice the workload of a colleague simply because you’re capable or closer with the manager. Everyone is aware of the favorites, the lazy individuals who get away with it, and the people who show up at 9:30AM instead of 9AM. You need to be a fair Traffic Manager and delegate evenly, resisting the urge to display public favorites.
- Centralize Workflow: As the easiest fix of all, you need to modernize your workflow to adhere to millennial standards. That means digitizing every element of office management in one comprehensive software system so everyone is on the same page. That’s the kind of reform you can make with the likes of CurrentTrack.
As a web-based, ad agency software system that captures, documents, and reports time, costs, and progress associated with clients and clients, easy budgeting, and billing, there will be no more communication mishaps, unfair treatment, or lack of understanding between those in your workforce. As a result, watch your turnover rate plummet, with satisfied and appreciated employees that clearly know what’s expected of them throughout the day. Give them the gift of CurrentTrack.