It has been observed that to replace a former employee who has resigned or retired, the company has to spend 150% of the previous employee’s salary. In the light of the above statement, it is evident that employee retention and employee engagement are critical issues for the organisation to attend to. What strategies can the organisation use to retain its employees to reduce high labour turnover?

It has been observed that to replace a former employee who has resigned or retired, the company has to spend 150% of the previous employee’s salary. In the light of the above statement, it is evident that employee retention and employee engagement are critical issues for the organisation to attend to. What strategies can the organisation use to retain its employees to reduce high labour turnover?

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter11: Human Resource Management

Section11.3: Performance Management

Problem 1DQ: What are the challenges of a company developing a different competency model or performance...

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