The article emphasizes the critical importance of employee retention strategies, highlighting the financial implications of turnover costs. With over 50% of companies lacking a formal retention plan and contrasting customer retention techniques with inadequate employee programs, it stresses the need for personalized recognition. The author's personal experience with a resignation highlights the consequences of undervaluing employees. By utilizing thoughtful approaches, such as recognizing employee anniversaries in a meaningful way, companies can boost retention, demonstrating that investing in staff is crucial for long-term success.
Over 50% of companies lack a formal strategy to retain employees after recruitment.
Companies have sophisticated customer retention strategies, but employee retention programs often get overlooked.
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