Employee turnover can stem from various reasons, including retirement, better career opportunities, impressive compensation packages, etc. If left unaddressed, it can have a devastating impact on the firms, leading to disrupted workflows, and loss of business opportunities, negatively impacting the firm’s bottom line.
Therefore, to prevent such instances, decision-makers must devise effective employee retention strategies that prioritize the firm’s objectives and the well-being of its workforce. This can elevate employees’ job satisfaction levels, leading to enhanced productivity, improved company loyalty, and higher profitability.
