What is meant by employee retention and why it is Important?

Managing retention of hard working, motivated and positive workforce is very much needed for the success of any organisation. Problems in retaining an efficient employee can be the worst nightmare for an employer as it brings a whole new set of challenges to handle, on top of the daily activities for the businesses. With high employee turnover comes increased expenses and it also has a negative impact on the morale of an organisation.

Employee retention is defined as the ability of the organisation to retain its employees.  In other words, it can be considered as a process where the employees of the company are encouraged and motivated to remain in the organisation for a longer period of time. This helps in reducing the employee turnover, which in turn decreases the cost associated with recruitment and training of the new staff.

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