How to improve your businesses retainment strategy in five steps
ompanies need top talent, and they need top talent to stay. But unfortunately, as the war for talent hots up, employee supply is limited and demand for the best talent increases. Today, workers have never had so many options. If they don't like a work environment or job, numerous companies are willing to offer them the surroundings, perks and culture that they seek. Whereas for businesses, this turnover can result in unfilled positions, overworked staff and reduced profits. Moreover, losing top talent is expensive. For example, to replace a manager making $40,000 a year can cost between $20,000 to $30,000 in recruiting and training expenses.