Businesses are always looking to hire and retain great talent. However, a business’ growth and success are not always enough to retain its employees. On average, businesses lose 23% of all new employees within one year of joining. Some, more recent surveys, found the percentage to be even higher.
In fact, according to an Aberdeen Group study, 86% of new employees choose to stick with or leave the company within the first 6 months. This kind of turnover not only slows down performance but also inflates rehiring expenses. With the average cost to fill a position running into the thousands, retention has become an important problem for employers.
