Replacing employees can be expensive, plain, and simple. Regardless of business size, industry reports show the total cost of losing an employee can range from 1.5-2X the employee’s annual salary. This is why you need a tool belt of solid employee retention strategies.
And while there still will be some employee turnover, Solutions At Work has put together a list of 9 strategic employee retention tactics that will help you re-engage and keep your top performers.
- Find why people are leaving (and then fix it)
- Create a world-class onboarding process
- Tie employee work to greater company initiatives
- Ensure managers give positive feedback
- Communicate the shared vision
- Perform regular compensation analyses
- Offer learning and development opportunities
- Stay on top of trends
- Say farewell, well