What is a retention strategy?
Retention strategies make a reference to policies that organisations follow in insurance to retain employees and decrease the turnover and attrition and make sure there is employee engagement.
The key goal here is to complete the expectation of employees/ workers without losing sight of the organisation's goals and objectives. And to ensure there is maximum return on investment.
Some retention strategies can be the following:
- Investing in employees’/workers professional development
- Clarifying clear-cut expectations and policies
- Offering benefits package to employees
- Building a culture of open communication
- Not overburdening the employees
- Giving the employees with meaningful work