Employee retention is the ability of a business to retain its staff members. Employee retention can be represented by a simple statistic, for example, a retention rate of 80 percent usually indicates that an organisation kept 80 percent of its employees in a given period. However, many consider employee retention as relating to the efforts by which employers attempt to retain employees in their workforce. In this sense, retention becomes the strategies rather than the outcome.
For more information on how you can make great efforts to retain staff as an employer, check out this short video from Inspire Financial.
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