What Is Employee Retention?
Employee Retention refers to the set of efforts and policies designed to reduce turnover by creating a workplace environment that makes employees want to stay.
It can also be defined as the ability of an organization to retain its employees.
Why is having high employee retention important?
To have a high Employee Retention rate means that you are keeping staff members long-term. This means that you will need to spend less time and resources in finding new candidates for any vacant positions, and on training new employees.
Usually, having long-term employees translates also into employee engagement and productivity, since it shows them that they are valuable to the organization and that they have a place to develop professionally within the company.