A substantial body of empirical evidence suggests that anthropogenic disturbance can affect the structure and function of grassland ecosystems. Despite this, few studies have elucidated the mechanisms through which grazing and mowing, the two most widespread land management practices, affect the stability of natural grassland communities. In this study, we draw upon 9 years of field data from natural grasslands in northern China to investigate the effects of gazing and mowing on community stability, specifically focusing on community aboveground net primary productivity (ANPP) and dominance, which are two major biodiversity mechanisms known to characterize community fluctuations. We found that both grazing and mowing reduced ANPP in comparison to areas enclosed by fencing. Grazing reduced community stability by increasing the likelihood of single‐species dominance and decreasing the relative proportion of nondominant species. In contrast, mowing reduced the productivity of the dominant species but increased the productivity of nondominant species. As a consequence, mowing improved the overall community stability by increasing the stability of nondominant species. Our study provides novel insight into understanding of the relationship between community species fluctuation‐stability, with implications for ecological research and ecosystem management in natural grasslands.