Employee Retention Strategies to Retain Top Talent
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