Employee retention refers to an organization’s tactics for reducing employee turnover and the processes it implements to keep its most valuable employees. Today’s companies and HR departments face a major challenge: employee retention. People quit their employment for a variety of reasons.
Employers’ primary aim in a corporate context is to reduce employee turnover, which reduces training expenses, recruiting costs, and the loss of talent and organizational expertise.
Employers may increase retention rates and lower the costs associated with high turnover by applying lessons learnt from important organizational behavior principles. This isn’t always the case, though. Employers might pursue “positive turnover,” in which they try to keep only those workers who are good achievers.
Companies that are more responsible for the environment and sustainability policies can attract and keep personnel in today’s environmentally concerned culture. Employees want to work for firms that are ecologically conscious.