Casual Employee Meeting

Employee Retention: The Unsung Hero of Great Company Culture

In the current economic climate, there’s a lot of talk about recruitment marketing and talent acquisition – what it takes to find great candidates, stay on top key trends in recruiting, and how to make sense of HR and recruiting statistics. These topics are pertinent and timely – they’re the shiny object that draws your attention.

[Related: 7 Things Your Competitors Can Teach You About Staff Retention]

Meanwhile, you’ve got some high-performing, dedicated staff members who might start catching a glimpse of shiny opportunities elsewhere if you don’t actively nurture employee retention.

Because the reality is this: it pays to retain good people. It’s good for your bottom line, your reputation as a recruiter, your company culture – and the list goes on.

Conversely, losing trusted employees is expensive in more ways than one, so it’s worth making the necessary investments to retain them.

[Related: How to Ensure Superstar Employees Don’t Get Bored and Resign]

In order to better understand what factors contribute to whether an employee changes jobs, Glassdoor Economic Research analyzed more than 5,000 job transitions listed on resumes shared anonymously on Glassdoor. In our just-published Employee Retention Playbook, we’ll share the most significant factors that contribute to whether an employee stays or leaves, and what you can do about it.

You’ll get a deep understanding of the cost of losing employees, plus the factors that matter for retention. You’ll also learn how to master these critical aspects of employee retention:

  • Create a company culture that makes good people want to stay
  • Invest in employee development so good people grow and advance
  • Keep compensation and benefits competitive
  • Adjust benchmarks for your specific industry

Given the high costs of losing trusted employees, it’s worth making the necessary investments to retain them. By focusing on the proven factors of company culture, employee development, and compensation while keeping industry norms in mind, you’ll be well on your way to improving your retention rate and recruiting more employees who stay. In addition, using Glassdoor as a feedback and candidate communication tool will allow you to promote a positive culture that focuses on employee development and rewards them appropriately.

[Related: 6 Tips on Creating a Winning Culture from Best Places to Work Winners]