Successful HR leaders recognize that, while a competitive wage is a necessary component of a satisfied employee’s compensation package, wages alone are generally not sufficient to prevent attrition. As wages continue to grow and turnover ticks up to 25 percent (from 24.4 percent in Q4 2015) according to the ADP Research Institute®Workforce Vitality Report, many CHROs are looking for wage-independent retention strategies.
According to the Marshall University School of Management, factors of employee retention are often a function of an employee continuance commitment, or an employee’s commitment to their current employer. That simple concept can be explored and cultivated within your organization to keep your employees in a number of ways.
