Improving employee retention is important in every industry, but it's rarely an easy matter. In this guest post, Alison Brattle shares her top tips for improving staff retention.
Several factors including industry competition, changing demands of customers and clients, economic instability, and advancing technology affect employee retention.
In economically uncertain times, budgetary concerns and workforce morale come into play too. Unlikely as it may seem, economic instability can actually result in more people voluntarily leaving their jobs, particularly in manager-level positions.
This kind of attrition has a significant impact on businesses, and it’s important to take steps to both improve employee retention, and minimize the impact of losing key staff members if this does occur.
So, what can be done by businesses to improve staff retention levels?
Why Do People Leave?
First, it’s critical to understand exactly why employees leave their jobs. For most people, reasons for leaving fall into one of three main areas: