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Do homework before reconfigurig benefits

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A strong benefit package is imperative to decrease turnover. However, do not vary existing fringe benefits or initiate new ones simply on a hunch. Analyze the facts and decide which perks will have the greatest impact.

Develop a written survey. Include detailed questions about current benefits and satisfaction levels. Do not assume personnel need, or even want, what you offer. Solicit thoughts on fresh avenues. Examine personal and professional needs not being met by the company.

Require team members to sign their names to the survey for follow-up purposes. Evaluate the information and dispense a general summary to all staff.

Create and implement action plans based on workable ideas and explain if certain ideas are not feasible. Hold regular meetings to present updates on progress, and communicate on recommendations that will take a while to research.

Conduct the survey only once a year. You have to have time to react to the data.

Calculate your turnover prior to making changes, then recalculate every time you implement a change. Try just one modification at a time.

The following formula would be applicable if you were going by the month: Divide the number of personnel who left during the month by the total number employed at the middle of the month. You may want to tabulate different rates for each department or occupation.

Computing only avoidable turnover is another option since not all turnover can be controlled.

First, select a time period to assess. Second, judge which resignations were unavoidable. Third, subtract that figure from the sum of both avoidable and unavoidable departures. Fourth, divide that computation by the gross number of workers at the middle of the time period.

Lynne Haggerman

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