If you wait until an exit interview to find out why a valuable employee has decided to move on, you’ve missed a golden opportunity — not just to keep a productive member of your team but to identify and fix issues within your organization before you lose others.
Employee retention is a critical issue as companies compete for talent in a tight economy. The costs of employee turnover are increasingly high — as much as 2.5 times an employee’s salary depending on the role. And there are other “soft costs”: lowered productivity, decreased engagement, training costs and cultural impact.
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