You finally hire an employee for the position that took months to fill. You spend weeks and months training this employee only to watch her leave after a year. This type of scenario puts the organization in a predicament because of the time and budget spent throughout this time.
In these situations, the HR team usually have some serious questions to answer, such as:
- Why did an employee leave?
- Why were they allowed to leave?
- How will the organization prevent it from happening again?
How to deal with low employee retention
According to Natural HR, compensation, incentives, and culture are the three things you should focus on to improve employee retention. Salaries should be fair, consistent, and in line with market expectations; incentives don’t always have to do with money (an unexpected half-day off before a major holiday means much more than money to many). Finally, the company culture should foster admiration for the company. Employees should be happy to come to work.
The more valued an employee feels, the more likely they are to generate loyalty and an emotional connection with the organization.