HR Glossary

Retention Strategy

By October 20, 2019 October 22nd, 2019 No Comments

What is a Retention Strategy?  Definition below:

Retention strategy is a plan that organizations use to keep their top talent and reduce employee turnover.

It is extremely time consuming to find and hire the right employees.  With rising employee turnover rates, companies are looking into new retention strategies.

The key components to an effective retention strategy all focus on areas your company can control.  These often include the company culture, benefits, environment, and recognition programs.

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