Ways to Decrease Your Team's Turnover Rate
Many companies worldwide outsource tasks, such as back office support, customer service, and digital marketing, to have more time to focus on other aspects of their business. Outsourcing tasks or projects to a third-party company helps in cutting costs, achieving higher productivity, and improving quality. On the other hand, it’s also a challenge for companies to maintain a low turnover rate among their offshore staff, especially when they’re physically away from their virtual teams. Having staff quit and transfer to other BPOs is quite a problem.
Nonetheless, there are steps to decrease your team’s turnover rate:
1. Choose the Best Outsourcing Provider
If you want to avoid the hassle of managing a virtual team, the first step is to choose the best outsourcing provider. Choose an outsourcing company that has years of experience working with clients in various industries. Make sure that your chosen provider has proper management support. In addition, it’s important to choose an outsourcing provider with high English proficiency. Outsourcing to the Philippines is highly recommended with its growing business process outsourcing industry that’s backed by its government. Lastly, it’s also advisable to find a vendor that has an office conducive for working and learning with an excellent environment and state-of-the-art facilities. Visuals play a big role in motivating your team to work. An office that looks good and provides a positive work environment will do wonders for your team’s performance.
2. Offer Skill Leverage
Learning is constant. Make use of this opportunity to give your virtual team opportunities to improve their skills. Enhance their technical, communication, and management skills through training on top of what your outsourcing provider gives to them. For instance, offering educational assistance is a great motivator to encourage your team members to develop their professional skills.
3. Praise Your Team Member’s Excellent Work
A simple acknowledgment can boost your virtual team’s morale. This encourages them to do well at work. Implementing a reward system for your team can encourage them to exert extra effort, improve their performance, and focus on quality. For example, you can give an all-expense paid trip as an incentive to team members who receive consistent kudos.
4. Be an Open Book
Since you’ve carefully selected your virtual team based on skills and capabilities, expect them to have great ideas and suggestions that can benefit your company. Considering their input means you value them as professionals and treat them as one of your company’s assets. As you build a give-and-take relationship with your team, you create a special bond that fosters mutual respect and loyalty. You can get their insights through surveys and meetings, asking them to pitch suggestions to improve current processes and guidelines.
Success is earned by overcoming every hardship in your business together with your team. By valuing the staff who tirelessly work with you the same way you value your clients, you’ll have the best team members who will stay loyal to you. This results in a low turnover rate, increasing efficiency, boosting morale, and improving productivity across the board.