Understanding Employee Turnover & Retention

Reducing employee turnover, and thus increasing employee retention, is crucial for the success of any business. High turnover exposes businesses to new risks, like lowered engagement and morale, and it can drain valuable resources and time spent recruiting and hiring replacements. Businesses also lose productivity when skilled employees leave, and it can take weeks or months to train new employees to return to the baseline for productivity. Implementing effective retention strategies helps your team focus on their important tasks, projects, or long-term business objectives instead of constantly managing incoming employees. So how can managers and business owners become better equipped to develop retention strategies that lead to long-term success? 

In this course, you’ll get an in-depth look at employee turnover and retention. We’ll explore strategies to identify factors that cause attrition, predict turnover, and maintain retention within the team. You’ll learn about the true cost of high turnover, different approaches to addressing employee retention, and strategies for creating an environment that encourages engagement and loyalty. 

Learning Objectives 

• Identify key factors that contribute to employee turnover
• Analyze how high turnover affects an organization’s finances
• Recognize employees’ key needs
• Describe how employees can be incentivized to remain with the company