The Importance of Employee Retention

In the present job market, employee retention has become increasingly important to firms. Companies must discover strategies to retain their present talent given the rising costs of recruiting and training new employees. In addition to being expensive, having a high employee turnover rate can be bad for the business's output, morale, and reputation. So, in order to remain competitive in the market, organizations must place a high focus on retaining outstanding employees. 

Employee Retention


Retaining great talent is crucial to a company's success in addition to the cost savings tied to staff retention. A study by the Society for Human Resource Management (SHRM) found that it can cost a business up to 50% of an employee's salary to replace them.

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