Retain Employees in 5 Easy Ways Through eLearning

Employee retention has now become a prominent issue in large organizations. There is no dearth of good opportunities for qualified candidates and getting the best candidate onboard is a mammoth task in itself. What lies beyond this effort is retaining them. Attracting talent and getting them to stay is a big challenge for organizations today. The stats reveal that it costs 150% of a mid-level employee’s annual salary to replace them. And the cost increases with seniority. Hence, employee retention turns out to be of great importance. The below graph shows the Cost to Value of an employee in an organization. From the above graph, it is quite clear that if an employee quits the company soon after joining it, it can prove to be very expensive for the organization as the organization is back to square one and the entire process of recruitment-onboarding-training will have to be redone. Such increasing attrition rates lead to reduced profitability of the company as a lot of time and effort goes into hiring new candidates at a high frequency.

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