09. Retention

Cost of Turnover

Can range from 100% to 300% of an employee’s annual salary.

Turnover Risk Factors

Likely indicators that predict if an employee is likely to leave.

Employee Behaviors

Such as drop in performance and absenteeism, indicating potential turnover.

Dissatisfaction Signals

Complaints and disengagement that may predict turnover.

External Signals

Job offers and increased networking that indicate potential employee departure.

Impact of Departure

Consequences of an employee leaving, including business disruption and team morale.

Warning Signs of High Turnover Risk

Drop in performance, increased absenteeism, isolation from the team.

Leadership Quality

A key driver of employee turnover related to the quality of management and leadership.

Psychological Contract

An unwritten set of expectations between employer and employee.

Exit Interviews

A tool to gather feedback on why employees leave the company.

Employee Surveys

Regular assessments of job satisfaction and intentions to leave.

Multiple Regression Analysis

Quantitative method to link factors to turnover risk.

Employer Branding

Enhancing the company’s image to attract and retain talent.

Flexible Work Arrangements

Policies promoting work-life balance through flexible hours or remote work.

Retention Strategies

Targeted actions implemented to retain employees based on turnover analysis.

Career Growth Opportunities

New challenges offered to employees to address dissatisfaction and promote retention.

Manager-Level Turnover

High turnover in specific teams linked to management issues.

Organizational-Level Turnover

Widespread turnover across multiple departments within a company.

Long-Term Strategy for Success

A holistic approach to reducing turnover and improving retention.

Data-Driven Retention Strategies

Using data and feedback to develop effective retention policies.

Individual-Level Turnover

Concerns addressed through direct intervention for specific employees.