The Importance of Employee Retention

Johnson shared a post regarding strategies to retain employees. He mentioned it in a recent post the following:

Employers can implement various strategies for retention of employees such as offering competitive salaries, providing opportunities for career development, and fostering a positive work-life balance. Employee Retention Strategies

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While these are all true, it is also important for business owners to know the benefits as to why they should have these strategies.

Some of the benefits include better and improved efficiency, increased employee satisfaction, and a more positive company atmosphere. These along with the fact that company will save money from training and onboarding new talents. Remember that every individual has different learning curves. Imagine replacing the veteran to a newcomer is a big blow for the recruiter, the trainer and the coach. This means company expenses.

Conclusion:
If you are a business owner, make sure to take care of your people. If your people feel that they are not loved, that they are not getting the attention you need, they will express their intention to leave you sooner that you thought.

Employee retention can promote the reputation for the company. That is because companies that have higher rate of staff turnover tend to to be somehow questioned on it's bad image to the community.

Right, companies with high turnovers are questionable in the eyes of old, new and incoming employees. And even the neighboring companies would also raise brows as to why they have high attrition rates compared to these, that, companies.