Employee Retention

What is an Employee Retention?

Employee retention is the capability of a company to forestall employee turnover along the way.

Employee retention is a vital part of human capital management programs in today’s corporate world.

Here are some of the common reasons for employee turnover:

• Personal reasons like relocation, medical issues, and more
• No work-life balance 
• Lack of interest in the job 
• Poor relations with team members 
• No growth/upskilling opportunities 
• No salary hike/ promotion

If employers notice a high employee turnover rate, then any of the aforementioned reasons can be the problem.

That being said, take a look at the top eight benefits of prioritizing employee retention:

• Cuts down costs 
• Improves hiring and training process 
• Boosts the overall efficiency 
• Enhances employee morale 
• Improves engagement among employees 
• Facilities better customer experience 
• Strengthens the company culture 
• Increases the profits

The employer who aces the employee retention game not just improves overall business performance but also the bottom line.

Also, See: Employment History