Employee turnover is a benchmark by which many people judge the culture of a business. High rates of employee turnover often indicate a toxic culture or one that does not properly value the staff working at the business. Conflicts of personality, personal issues among staff members, burnout due to high demand and stress levels, or even a better offer with a more established company can drain talent from a business. Finding a replacement for a departing staff member can be frustrating, time-consuming, and expensive.
However, not all scenarios that result in higher levels of turnover is due to a massive failure on the part of management or the product of toxic work culture. In certain industries or business models, higher turnover rates may simply be a result of elevated levels of stress, demand for growth, and changes in the company’s approach to doing business. Startups often struggle with employee turnover, especially when it comes to executives and those involved in the development of key products and services.
As a start-up, instead of fearing turnover, you may want to embrace it as something that could potentially benefit your business. Turnover creates an opportunity to seek new staff or executives. It can also help your startup avoid common issues, such as employee burnout.
Turnover is just another opportunity for growth and improvement
Innovation and disruption to the industry standard are key components for successful modern startups. An entrepreneur hoping to make their mark in the business world will need to work with driven and creative professionals. Employees can make or break a startup company, which can make the loss of a staff member feel dangerous. Moreover, it can lead to stress and affect the well-being of workers. It doesn’t have to be that way.
Over time, expectations or needs for a position may shift. The company may also experience dynamic growth that requires a different approach than current staff can offer. Instead of limiting or stagnating the development of your company to accommodate existing workers, embrace the idea of that sometimes critical staff are only meant to contribute to your company for a brief period.
When your company trajectory exceeds the capabilities of your existing staff members or moves into an area that they no longer have experience with, it may be time for certain professionals to move on to new companies. The people you hire to replace them will bring fresh ideas and their own capabilities to your company. Those new ideas and energy can foster continued growth and the improvement of your products or services.
There’s less worry about complacency with fresh staff
Employees who are comfortable with their daily work and the expectations of your company can actually underperform. Complacency in employees is not necessarily a good thing for startup companies. You need people pushing themselves to the limits and those who are willing to take risks and try new things. The longer someone has been with your startup, the less likely they may be to push for innovation and develop new ideas or concepts.
Bringing in new staff as a result of employee turnover can generate new ideas and help your company grow in unexpected and fantastic ways. Instead of viewing employee turnover as a sign that your startup needs to adjust how it relates to staff, you might want to view employee turnover of developing. Each person you work with an employee will bring something unique to the table.
So long as you succeed in hiring staff whose skills and abilities intersect appropriately with the objective of your business, all new hires and fresh blood at your company will help with growth, rather than hindering it. Expect that turnover is inevitable in high-stress positions. Seek to harness turnover as a positive force for your startup company.