Talent Retention in a Digital World – “Turnover is Killing Us”
It’s expensive to attract, train, and replace employees: the Bureau of National Affairs estimates that turnover costs U.S. businesses over $11 billion annually. It costs between 50—60% of an employee’s annual salary to replace them, with total costs as high as 150—200%, depending on their position in the company – and it will take an average of 52 days to do it.
Progressive companies are implementing programs to retain and attract valuable talent by building positive cultures (it takes more than a free lunch and a ping-pong table).
Today’s employees say that the culture of the company where their contributions are recognized outweigh compensation and benefits (all other things being equal).
You can’t change the specific duties that jobs entail, but you can help create a culture where employees are better engaged and more committed through positive feedback and recognition for performance.
This white paper discusses three key strategies to attract and retain key talent.
Download the white paper now.