A massive amount of employee turnover can be crippling for a company, even a small amount can really hinder a productive environment.
The good news is that minimizing employee turnover can sometimes be as simple as showing a little bit of appreciation for your team members. However, this is a good news/bad news situation, depending on how far along your problem is. Much like with fixing up the house, it’s very easy to fix problems if you catch them right away. Though, if you let the problems build and too much time goes by before you dig in to fix it, you may have a much bigger problem on your hands.
While appreciation may not be the number one reason why people leave jobs, it is most definitely a high contributing factor in many cases. People are often more willing to take a chance, and risk leaving their job for chance at an opportunity if they feel that they are not properly appreciated, or respected in that the current position. Likewise, when presented with opportunities elsewhere, employees who feel that they are truly appreciated and looked after in the current position are known to be less likely to take opportunities elsewhere.
Managing is a balancing act. So, all of this is not to suggest that you lack accountability or even responsibility when needed in dealing with your team. However, showing appreciation for your employees needs to be an element of your position. Not doing so may be not only risking the productivity of your office, but risking high employee turnover and if the problem gets too severe, even your own employment.
No matter where you find yourself in the world, or even what industry you are in, if you are leading a team you need to understand that a lot of elements of management are universal, and employees desire to be appreciated is most definitely on that list.