The days where employees would spend decades with the same company are long gone. A Workopolis survey conducted last year found that "51% of those polled had been in the same job for less than two years, while 30% had held one job for over four years".

High employee turnover not only affects your company's bottom line, it also affects the overall morale of the remaining employees.

There are many different factors that attract top talent to a position. The tips below ensure that once you have attracted a top employee, you will keep them as well!

Make sure the job is what they expected

Of the employees surveyed by Workopolis that quit on their own, 29% did so due to boredom and unhappiness at work. To avoid this, be clear about the position and your expectations during the interview process. Make sure they understand the company culture and are informed about the kind of career paths they can take within your company before they start.

Make sure the pay is competitive (or comparable to market expectations)

Given the low unemployment rate in North America, candidates can be more selective in the jobs that they take. If you have not evaluated the payment structure and benefits packages offered to employees in awhile, now would be the time to do so. Ensure that the compensation structure offered for different departments and experience levels is fair. Our HR team recommends having a third party perform the compensation review annually, in order to have a clear and data-driven report to refer to when you have conversations with employees.

Recommended read: Compensation Concerns: No More Squeaky Wheel Gets The Raise

Provide constructive feedback

Giving actionable and frequent feedback is crucial in helping employees achieve their career goals. This can be done through both formal employee reviews, mentorship programs, ongoing training programs, and regular check-in sessions.

Recommended Read: How To Be A Successful Mentor

Provide ample opportunities to grow

The third most common reason employees leave their job is because they believe that there are better opportunities elsewhere (20%). The best way to mitigate that is to provide your employees with opportunities to grow.

Actions can speak louder than words. As a manager, you can tell your employees how great they are, but if you don't provide them with a real path to advancement, they will leave for other opportunities. You can do this through more simple measures, such as having them take the lead on an important project, helping out another department in a time of crisis, or providing them with additional assignments which challenge them to grow. By doing this, you are showing them that you value their skills and expertise.

Freedom and Flexibility (within reason!) are key

As we stated in a previous article on Millennial engagement, a Deloitte survey on Human Capital trends reported that over 90% of millennials say that flexibility is a top priority in the workplace. If applicable, offer opportunities to work from home, bank hours to allow shorter days when necessary, and provide options for working hours.

Recommended read: Engaging Millennials in the Workplace

If you are experiencing high employee turnover or need help improving your employee retention program our HR Services team can help!