Conducting exit interviews. Improving the openness of communication between management and employees. Expanding or improving training and development opportunities. When retention is above average in comparison to the competition, organizations tend to experience greater customer satisfaction, employee productivity, and profitability. Today's workers have different priorities.
Young people are less likely to spend their entire careers at one organization than in the past.
Retention is a lead indicator that does not show its impact for months or even years. Organizations are more likely to focus their attention on more immediate needs instead of the long-term retention of employees. Although compensation matters, employees are more concerned with the level of fulfillment they get from their jobs. They also feel that working with an understanding supervisor or manager in a cooperative and trusting work environment is important. Employees care about their work and how it fits into their lives.