Employee retention, it seems, isn’t just a nice idea—it’s good business. But it’s also clearly going to require a plan if you want to keep your best employees long-term.
Employee turnover is expensive. How expensive? According to a review of 30 case studies taken from the 11 most-relevant research papers on the costs of employee turnover done by the Center for American Progress, it costs businesses about one-fifth of a worker’s salary to replace that worker.