As the end of the year approaches, many managers are eager to promote high-performing workers who have invested in their company and achieved great wins. Promotions have long been a way to celebrate successes and reward employees for a job well done, but recent data from ADP suggest a different reality. According to their September 2023 report, 29% of employees leave their job within one month of receiving a promotion. This data shows that promotions no longer guarantee higher retention rates of employees – but it doesn’t mean that anyone you promote is bound to leave. There are many steps that employers and managers can take to retain top talent while cultivating their growth.
