Employee retention refers to an organization's ability to keep its employees over time. High retention rates are often indicative of a positive work environment, effective management, and employee satisfaction. Companies that prioritize retention can save on recruitment and training costs while fostering a more experienced workforce.
To improve employee retention, organizations can implement various strategies such as offering competitive salaries, providing opportunities for career advancement, and promoting a healthy work-life balance. Engaging employees through recognition programs and regular feedback can also enhance their commitment to the company, ultimately leading to a more stable and productive workforce.