Do you have some pretty amazing employees that you’d hate to see leave? Do you know how to get them to stay? Employee retention should be a top priority, but it can be challenging for a company. It’s crucial to know what steps to take toward success. The more you know about the importance of employee retention, the better!
Employee turnover plays an important role in keeping a company healthy. High turnover rates lead to high losses that can ruin a business. Turnover stems from a multitude of reasons so, prevent the bad from happening and watch what good can follow.
Pay attention! Complacency at work leads to less innovation, less trust and less loyalty within your organization. Are you encouraging change? Do you reward failure? Is turnover on the rise? Are you making decisions based on intuition and information? Or, only to relieve a sense of anxiety?
Employee turnover is an important issue to monitor in the workplace. Understanding how often employees end their relationships with your organization and why people are leaving are vital to managing employee retention. Most of the reasons for employee turnover are not personal, but you can do a lot to learn from the past and lay a better foundation for the future.
Employee turnover is the percentage of workers who leave your organization, the employment relationship ends and they are replaced by someone new. Attrition is different. This generally refers to the end of the employment relationship due to retirement or job elimination or employee death. When attrition occurs, the position is not filled with a new employee.
Almost exactly one year ago, I started in my position at TeamBonding. Coming from a job in financial services and still being fresh out of college, working in the corporate events industry was a big (and welcome) change for me. From the start, I knew that this position was going to be a great way to understand the responsibilities of a cross-functional marketing and sales role, and also give me the chance to be a part of a tight-knit team.