In an era where it is increasingly difficult to find and hire top talent, it is even more crucial to hold on to your best people. One of the problems is that far too many companies believe that salary is the only contributor to employee well-being and satisfaction; the truth is that while money is a big motivator, ultimately other factors – such a good boss, flexible working practices and other non-tangible welfare benefits – all contribute to employee happiness.
To create a winning employee retention strategy, companies should be looking at adopting a holistic approach that involves taking a grounds-up approach by identifying the key factors affecting employee turnover and retention, and taking the appropriate actions to correct them. After all, having the right retention strategy will not only benefit your employees but also ultimately enrich the business.
Here’s an infographic from the team at Ajilon that looks at how you can create a winning employee retention strategy:
[Infographic credit: Ajilon]