According to LinkedIn’s Workplace Learning report, 93 per cent of companies are concerned about employee retention.
Employee retention is a top priority for organizations, according to the report, which surveyed 1,200 talent acquisition decision-makers worldwide. Furthermore, 94 per cent of recruiters believe that employee retention has a significant impact on the company’s bottom line, according to the report. It identifies the most in-demand soft and technical skills and emphasizes the significance of proactively focusing on employee development.
Employee turnover, according to the report, has a high financial and productivity cost. Loss of valuable employees can result in a loss of knowledge, skills, and experience, which can have an impact on a company’s performance and growth. As a result, companies must take steps to retain their employees, such as offering professional development opportunities, competitive salaries and benefits, and creating a positive work environment.
According to the report, businesses should conduct exit interviews with departing employees to determine the reasons for their departure and take appropriate measures to address any issues. Companies can gain valuable insights into their employees’ needs and preferences in this manner, which can help improve employee retention in the long run.
It then emphasizes the importance of employee retention for businesses, emphasizing the need for companies to focus on retaining their top talent by providing professional development opportunities, competitive salaries and benefits, and a positive work environment.
The sources for this piece include an article in TechRepublic.