Workforce Retention: Strategies for Strengthening - Webinar By ComplianceOnline (HR Training)
Venue: Online Event
|Event Date/Time: May 10, 2011||End Date/Time: May 10, 2011|
Retention is costly in many ways. The obvious costs are associated with hiring and include recruiting costs, training costs, overtime pay or hiring temporary employees to complete the work, and lost productivity. Other costs may be lower employee morale, increased stress and absenteeism, lost working relationships and knowledge and a loss of loyalty and teamwork.
Other consequences may involve lower customer service and satisfaction and the actual loss of customers due to the break in their relationship with the company or because they may follow the leaving employee. Also high turnover can negatively affect a companyâ€™s image and discourage others from either working there or using the companyâ€™s services or products. All in all, it is a disruptive event.
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