Attracting and retaining employees is a top challenge for entrepreneurs, with hiring the right talent and retaining existing staff ranking high.
Replacing staff is costly, with estimates ranging from $4,700 to three to four times the position's salary. Retaining employees saves money and boosts morale.
Active listening is key to combatting high turnover rates. Employers who fail to listen to employee concerns risk losing top performers and frontline employees.
Active listening involves showing interest, engagement, and care, beyond just understanding the words spoken by others.
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