Hiring top talent is only the start to creating an outstanding workforce. The next step — and just as vital — is keeping them around. Let’s dive into employee retention: your company’s ability to maintain a work environment that supports staff in remaining with you.
Employee turnover is often a symptom of deeper unresolved issues, such as low employee morale, unclear career development options, lack of recognition, or poor employee-manager relationships. In addition to lost productivity, employee exits also hurt your bottom line.
One analysis found that businesses spend about one-fifth of an employee’s annual salary to replace that worker. Costs come in the form of recruiting and training, as well as institutional knowledge.
Ready for new ways to keep strong employees with your company? Below we’ll explore specific strategies for creating a better work culture in which your people want to stay and grow.
Strategies for employee retention
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