Retention

Retention

The biggest challenge any employer faces is how to get employees to stay – especially your best employees. As important as recruitment and training efforts are to build and maintain a competent staff, even more critical is keeping skilled workers once you have them.

Retention planning focuses on:

• understanding why employees stay with or leave organizations
• using that information to put into place a range of strategies to ensure employees’ needs and expectations are met

Becoming an employer of choice puts your organization in an excellent position to attract and retain top quality personnel.

Why is retention so important?

There are two main reasons:

• the cost of employee turnover
• loss of key competencies (human capital)

Potential Costs of an Exiting Employee