Employee Retention and You

A challenge most employers face nowadays is the ability to keep their employees well long enough for at least a year or even for just six months. Retention of good employees is key to having a healthy term with your business, and ensuring the success rate and growth of it. Retaining is far more less costly than having to succumb to monthly hiring periods and training of the employees. Especially during these times where the new generation is known to be unable to last for at least six months at one work area.

It really matters, retaining your employees. Because it is very costly trying to train new employees, not to mention the money lost from time and mistakes spent and made by newbies.

Losing high-ranking and critical employees in your company is like wrenching the heart out of a dying man. Over the few years that will pass, more old employees will resign and the new generation will have to take over. But, can they assume the position as well as the older employees did?

One thing, it is unavoidable. Employees leaving the company is one thing that you cannot avoid. The least you can do is to find out why they want to leave. At least conduct an interview first before they leave. See if they were dissatisfied with the company, find out any hidden rot that had accumulated over the years. Check if there is something you can still do or offer to let the employee remain. You will certainly lose a big chunk of your company if you let a veteran leave that easily.

In any case, a good ego boost would help your cause. Just make sure that his target of dissatisfaction isn’t you or the company. If the other company is making a good offer, make him a better one. Treat it as an investment.