What is employee retention?
The term employee retention refers to the level at which a business or other organisation is able to retain its employees in the workplace. In other words, every time someone leaves the employment of a business for whatever reason, this will affect the company’s employee retention rate. Most businesses, government departments and charities want to retain as many of their current workforce as possible because there are costs associated with replacing them. These are often down to the expenditure required to recruit a replacement as well as the training costs that might be involved when a new member of staff is taken on.