Employee retention is critical to your company’s survival in the saturated, competitive international job market.
Moreover, retention is one of the biggest challenges businesses face today. The number of people quitting their jobs voluntarily is expected to reach 1 in 3 by 2023. This sobering projection reflects decade-on-decade increases in churn rates.
As a result of employee turnover, employers are left with many costs to shoulder. These range from dampened team morale to lost productivity to recruiting costs. These costs accumulate to a staggering $1 trillion for the U.S. economy each year.