Employee Retention Meaning | What is Employee Retention? | UBS
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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

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