8 Proven Employee Retention Strategies in 2022
By Neya Abdi | NVIE
Date: January 28, 2021
Last updated: Dec 30, 2021 Sparkbay.com. Employee turnover is expensive. Here are the top reasons employees leave and research-backed strategies to make them stay.
Wouldn't it be nice if the word turnover only referred to a small pie?
The reality for HR leaders isn't so sweet.
47% of HR professionals said employee retention was the top talent management challenge they faced, closely followed by recruitment at 36%.
It's no surprise that these two are linked: It's much less expensive to retain a productive employee than it is to recruit one.
But what can you do?
It'd be nice to increase everyone's salary, but that isn't happening anytime soon.
And those competitors with the money to lure away your best candidates aren't making things any easier.
The average compensation increase for an employee who takes another job is 15%. And chances are slim those workers will get that kind of pay bump in their current role without a promotion.
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