Retention is a critical issue for long term success, and something that seems harder and harder to come by these days. The general rule of thumb is that employers will spend the equivalent of six to nine months of an employee’s salary in order to find and train their replacement. Not only is this extremely expensive, it’s extremely time consuming. The key is to retain your best talent.
The market is fierce for top talent and your competitors are both outside and inside your industry. You need a creative, comprehensive plan for retaining your people of all ages, backgrounds, skill sets and experiences. The alternative is having to constantly invest time and money constantly replacing people.
The Talent Magnet Institute will help you plan and execute a solid retention plan. Our expertise can help alleviate the multi-faceted, often overwhelming, feat of knowing where to start and how to continue.
- Providing meaningful work to all employees
- Aligning each employee to the ‘why’ of your organization
- Clear, open and regular communication
- Providing personal and professional growth opportunities
- Welcoming feedback and allowing employees’ voices to be heard