Using Technology to Bring Down Employee Churn Rate

There are lots of reasons why employees quit their jobs. Some employees quit their jobs as a result of career advancement, pay or job security. However, according to one survey, about 20% of individuals quit their jobs because  of a lack of technical know-how and because they are not a good fit for the job.

Employees can create better value at work when they are properly assessed on their strengths and talents to improve productivity.  Again, companies can train their employees to gain the right technical know-how.

Technology is an indispensable tool to train employees and help them add better value. In this article, we will take a detailed look at how companies can use technology to bring down employee churn rates. So, let’s jump right in!

Identify Employee Skill-Gap

Identifying skill gaps to attain business goals is vital. When it comes to training employees, the most

important concern is how to properly identify skill-gaps. With the help of technology, there are certain ways to identify an employee skill-gap.

Key Performance Indicators (KPIs) is one of the best ways to determine skill gap. However, the most vital thing when using KPIs is to watch out for your employees’ overall performance trends. Additionally, using benchmarking performance and also making observations is vital in identifying an employee skill gap. It is essential that all these methods are used with good data gathering and thorough analysis. Making use of numerous data sources can help you to note the skill-gap and its root causes.

Build an Employee Information system 

Building a Human Resource Information System, or HRIS for short, will help you get feedback on your employees’ skill-gap. You may consider building a 360-degree profile for your employees; this will help you to understand what their current role is, the skills they have, and therefore, create a training plan.

Furthermore, a 360-degree review can get you feedback regarding certain performance-related problems of your employees as a whole. It is possible to take different approaches to this, but one vital one is the use of employee surveys, this is due to the fact that you can easily create and deploy it. A 360-degree review contains customizable employer fields (which allows you to be flexible to organize and manage employee data), document vault for every employee (secure storage for all your employees’ documents), and an org chart and employee directory (to understand your entire company).

Create an engaging onboarding program 

It is essential to note that employees need to be trained before they can start working in your company. A solid onboarding program can boost the value an employee adds to the organization and also improves their retention; thereby averting the cost of hiring replacements.

To create an engaging onboarding program, do not invest in simple text-based lessons; instead invest in interactive video content. Rob Evans, the founder of Graviteq, a company that trains rope access technicians says his organization creates helpful video content on their YouTube channel that teaches the basics of their training course to online viewers. While hands-on training is an absolutely essential component of this industry, video lessons help learners revisit these lessons later on in order to help them perform better.

Studies show that the human brain processes video content nearly 60,000 times faster than text.  Training your employees through video content should hence be the standard way to convey knowledge and values across the team.

Your company only needs to create an onboarding video once, and then new hires will be able to move forward with their training.  This saves time and cost. There is a wide range of video templates you can use for the perfect orientation.  While you make onboarding video content, ensure there are engaging, interesting, short, inspiring, and offer opportunities for further learning.

Offer flexible-working and remote working opportunities 

It is not surprising that employees can make or mar your business. Hence, it is essential that your company pays more attention to its employees. Letting employees work from home can help improve morale and boost productivity; not to mention bringing down the churn rate.

Recognizing the importance of remote work capabilities positively helps in bringing down churn rate. Recent studies show that nearly 65% of employees today report that their work allows them to work remotely, and it is becoming a norm.

Investing in collaboration tools that can make remote working easy will also help your company reduce its churn rate. These tools come in different categories such as Audio/video conferencing, chat/messaging, project management, document management, file sharing, and so on. These tools ensure a smooth workflow in your team and ensure that your workers feel more comfortable. They will also know what is expected of them and remain focused on the right tasks.

Final Words

The role of technology in bringing down employee churn rate proves to be vital. New technologies have emerged with the aim of reducing churn rates; to speed up onboarding and decrease turnover costs when employees leave their job. It is essential to identify your employees’ strengths and leverage them into achieving a better output, but this can’t be done easily and that’s where technology comes in — to help your management processes much easier.

Besides using the technological methods listed above, it is essential to have a purpose for your company, which will make employees find meaning in their work and stay devoted. Additionally, also validate that working is an essential part of your life — ensure your employees know that you value them and always want them fulfilled. Putting all these together, you will successfully curb the churn rate in your company.

150+ Almost Free and Essential Products To Start Your Business

Are you a newbie to the startup world? If yes, then you must be definitely knowing that starting up a business is no cakewalk. It is one of the toughest tasks and involves a lot of risks. Especially, if it’s a startup, you come across a lot of roadblocks that you never thought would ever crop up. Factors such as budget, limited manpower and time can also affect your business or startup when the workload starts piling up and the bills come rolling in.

But fret not! With the help of right tools and an effective team you can easily come over these hurdles and can reach your business potential. There are many tools and products available out there which can prove to be super beneficial for your business in the long run. Below mentioned is a curated list of some important products that every business must use, irrespective of its size, in order to take your business to new heights over the course of time:

Domain name suggestion

Booking the right domain name is the first step of any startup launch. But it is very difficult to get a desired .com domain name under your budget, however, you can try some hacks and find the domain name that best fits to your business name.

  • domainwheel(generate different variations of your desired domain name)
  • domainhack(take advantage of different TLDs and hack your domain e.g hy.pe)
  • agiledomainsearch(generate domain names by adding some random but related word)
  • domaindart(Generate domain name by adding prefix or suffix)

Domain Name Booking

Booking domain is not free but privacy, email forwarding and DNS can be free. Consider these free resources before selecting registrar.

Create Logo

Logo designing charges may vary from $10 to $10,000 but here is options to get one for free.

Create website by yourself

If you are not a web developer or a designer but need simple websites, then you can make it yourself for free or at a nominal cost with the help of these products. You don’t need to worry about hosting and setup also.

Create blog

Blogging is an important way to grow your business online. These tools can help you pull in your target audience.

  • wordpress(self hosted cms, you need to pay for server or hosting)
  • Managedwordpress hosting, free with wordpress.com sub domain
  • WP Buffs – Managing WordPress websites with 24×7 support
  • medium( $75 on time for custom domain)
  • tumblr(use with your custom domain for free, limited features)
  • blogger(everything is free. use your domain, customize theme.)
  • jekyll-now(host your blog on github)

Create Ecommerce Website

You can use open source software and host on your server, but must have prior knowledge of server management and PHP & Mysql.

If you don’t have technical background you can start from these hosted version of e-commerce platforms.

Host for free

Hosting your website can result in a recurring cost since many of the shared and cheap hostings are not able to provide more than 99% uptime but you can opt for some reliable hosting services for your needs that are free or almost free. It requires some technical skills to deploy your website.

Communicate

Interact with your team or clients.

Lead Generation

If there are any details which are missing from your lead you can get more details by name, company name or email Id

Get Work done

These all services are paid starting from $5

Analytics & Tracking

 

Website Traffic Monitoring

Having a good statistics package working in the background is important for your site. You must know what works and what doesn’t and also the trends that will make your website the next stop for visitors every day.

Track Email

Scheduling and tracking emails is important, especially if your clients are in different time zones.

Track Link

Tracking links of your competitors and those of your web pages is an essential part of SEO strategy.

Create Awesome Social media Posts

“A picture is worth a thousand words”, so make it stand out with the help of these tools.

Manage Social Media Accounts

Social media management tools can help you make the most of your social presence  and reach a wide number of audience.

Create Promotional Video

Create engaging online promotional videos affordably with these tools.

Launching Startup

Get your startup enlisted in these communities and create a good audience base.

Note Taking

In order to build a personal knowledge database, the good old note taking is undoubtedly one of the best ways.

Project & Task management

Managing projects and tasks can be a little difficult. But don’t let anyone tell you this. Manage everything on your own with these tools.

File Hosting & Sharing

Share and host files seamlessly with these tools.

Work Automation

These tools come with a wide range of applications and are ideal for those who are mostly digitally connected workers.

Create Forms

Forms can be a great asset for your business sites. Create one for yours with any of these:

Transactional & Newsletter Emailing

All the email services are paid but they offer a free tier until you start growing

Chat & Support

There are many chat service providers for your website who offer free plans but restrict the contact limits. Here I am mentioning the options which do not restrict them.

Get Payments

These tools help you receive payment from any corner of the world. These are safe and secure to use.

On Site Search

For the times when you want to allow your visitors to search on your website or your database.

Track Competitors

Having an insight of your competitor’s strengths and weaknesses can help you create a good strategy

  • mention(Starts from $29 / month)
  • alexa(most popular website ranking probider)
  • builtwith(check what third party technology powering a website. free , paid plans starts from $295)
  • whatruns(Discover what runs a website, when you open a website.)

Security

These tools help make your business fast and safe.

Bookmarks

Lets you save important stuff that you need to get onto later.

Engagement

Good engagement tools help your product grow in the best possible way.

Free Stock Photographs

Finding good images is difficult. These tools make your work of finding them an easy task.

Influencer Marketing

Instead of directly marketing to a large group of your consumers, you can get or hire influencers who can do the work for you or on your behalf.

Others

If you find anything that we have missed, then please let us know in the comments.

Article contributed by Vijay Nagar, marketing manager at BetaPage, a startups & early adopters community