When you think employee turnover, you probably think “cha-ching”. And not a good “cha-ching”. Instead of profit, it’s the sound of money lost. Employee turnover is expensive and sometimes even crippling to an insurance agency.
If a team member is contemplating jumping ship, here are some possible warning signs:
- Increased missed workdays
- Social withdrawal
- Uncommon errors and missed deadlines
- A change in attitude
There are some simple things you can do to prevent employees from leaving or starting to exhibit the above warning signs. Fix your insurance agency’s revolving door problem with these 4 tips to prevent employee turnover.
Simple Tips for Preventing Employee Turnover at Your Insurance Agency
Engagement is everything
A happy employee will produce great results for your company. When employees are engaged, they feel a strong connection to their company and work with passion. Make sure your employees’ basic needs are met and have a manager in place who works hard to focus on their strengths and encourage their development. An engaged employee is more likely to stay with your company long-term. Forbes shares the best employee strategy you can utilize today.
Create a crystal-clear path
It doesn’t make a difference if an employee has been working with you for years or was just hired, they will appreciate a clear career path within your company. Help everyone connect the dots between their daily tasks and company goals to ensure your team is on the same page. Set clear expectations to set them up for success, expand their responsibilities and explain opportunities for growth in the company.
Invest in your employees
Showing that you’re committed to your employees’ professional and personal future will help everyone feel valued. This could mean a company workshop or team building trip on a Friday afternoon. Team building helps everyone unwind and connect with their coworkers which will ultimately improve the work environment.
Acknowledging employees for a job well done is vitally important to everyone and can have a big impact on employee turnover rates. Take the time to praise people for their hard work and acknowledge their contributions. You can do this verbally, by sending a quick email, or by writing a thank you note, presenting an award, etc. Whichever way you do it, you will lower employee turnover rates by letting people know that their efforts have been noticed and appreciated.
No matter the circumstances, employee turnover can really make a dent in your bottom line. Use these tips to help build a culture in your insurance agency that will keep employee turnover rates low and ensure you have your best employees on board.