Putting the Breaks on Employee Turnover
Employee turnover is a common challenge in most industries, but it is especially difficult for architecture, engineering, and construction (AEC) firms. In truth, 78% of construction companies cannot find enough qualified workers to fill their open job vacancies.
When an AEC firm can find a great and valuable hire, it is important not to lose this employee due to the associated cost implications. It can cost more than twice an employee’s salary to find and train a new employee.
Not only do these statistics shock employers, but may also deter people from choosing to work in the AEC industry. Keeping this in mind, VIP Structures follows best practices to maintain happy and secure employees. Here are 4 tips to reduce employee turnover from our design-build company.
Tip #1: Foster Top Talent
Not everyone is the right fit for a job in architecture, engineering, or construction. According to the Harvard Business Review, 80% of employee turnover is due to bad hiring decisions. To combat this, it is important to evaluate current company values and goals an AEC firm has set forth.
A great resource is speaking to the talent AEC firms already have (i.e. current employees). VIP Structures have open conversations with employees whether it be individually or by the department. The goal of these conversations is to collect open feedback about current policies to understand what improvements the company can make for future years to come.
It is important to listen and understand how internal policies affect your workforce. If they are unsatisfied with the current direction of the company, any new talent will likely share these same feelings.
Tip #2: Maintain a Positive Company Culture
Happy employees are 20% more productive than employees who are unsatisfied with their role and are more likely to continue working for the AEC firm. A known truth that is too often missed when deadlines loom.
Positive company culture can go a long way toward helping employees feel a sense of worth in their jobs and skills.
A small change to improve company culture by investing in your employees can go a long way. VIP Structures provides employees with the tools, training, and skills needed to complete the job without feeling frustrated by old or outdated processes.
Another way VIP Structures implements a positive work environment is through company-wide events both inside and outside the office. From golf outings, ugly holiday sweater parties, corn hole tournaments, summer barbeques or a quick Friday afternoon ice cream break, we try to not take ourselves too seriously.
Tip #3: Focus on Employee Onboarding and Training
An AEC firm might think offering more competitive pay is the best way to keep lasting employees. In truth, pay (both salary and bonuses) has only a small-to-moderate effect on employee turnover. Instead, employees are more concerned with the bigger picture, which includes training and onboarding.
Not only is it essential to provide a comprehensive onboarding process for new employees, but it is also beneficial to provide ongoing training. By helping employees regularly improve their skills the success of the company as a whole will continue to grow.
VIP Structures is dedicated to the professional development of employees as we encourage participation in professional associations. Together, the development of employees validates VIP Structures as a leader in the design-build industry.
Many factors influence the success of our integrated design-build firm – our employees being one of them. Here are 5 unique traits of VIP Structures employees.
Tip #4: Avoid Employee Burnout
A common problem for AEC firms experiencing a high volume of employee turnover is overworking their employees to fill the gaps of open positions. Employees who feel underappreciated and overworked will likely look for another job.
It is essential employee burnout does not lead to a bigger increase in turnover. According to a Gallup study of full-time employees, 23% admit to feeling burned out at work very often or always and 44% admit to feeling burned out sometimes. Even worse, burned-out employees are 63% more likely to take sick days and three times as likely to find a new job.
Exhausted employees quickly become far less engaged with their work at AEC firm. To avoid employee burnout, monitor the workload of individuals and teams.
VIP Structures works to collect consistent feedback from employees and staff to check-in with how everyone is feeling. If we notice a common theme of employee exhaustion, we will offer opportunities to alleviate this pain. We let employees feel open to provide their insight on what it is they need to succeed and overcome feeling the burnout.
A commonality across a majority of AEC firms is the challenge of hiring and retaining quality employees. Part of this is due to the nature of the job, however, this only increases the importance of placing value on the success of employees.
By investing in current employees and demonstrating a commitment to their wellbeing, an AEC firm can prevent employee turnover and even stand out as a desirable place to work for prospective hires.
Learn More about VIP Structures
Our company specializes in architecture, engineering, construction, and development as a fully integrated design-build firm to help organizations with building needs all across Upstate New York.
Interested in learning more about our services at VIP Structures? Visit us on the web at www.vipstructures.com or contact us below by filling out our short form fill. Subscribe to our blog to get the latest news about what is happening in the A/E/C/D world.