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MBA 101 Strategic HRM, Turnover & Retention
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In this video we are going to be looking at Turnover and employee retention.
Retaining a positive and motivated staff is vital to an organization's success. High employee turnover increases expenses and has a negative effect on company morale. Implementing an employee retention program is an effective way of making sure key workers remain employed while maintaining job performance and productivity.
A company can significantly benefit from employee retention programs because of a direct effect on an employer’s bottom line. High turnover can be very expensive. According to the Society for Human Resources Management, “employee replacement costs can reach as high as 50 to 60 percent of an employee’s annual salary.” Strategies geared towards retaining good workers helps offset employee replacement costs and reduces the indirect costs such as decreased productivity and lost clients
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Follow me on Facebook @yesIcanandIwill
Follow me on Twitter @CanindianM
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Retaining a positive and motivated staff is vital to an organization's success. High employee turnover increases expenses and has a negative effect on company morale. Implementing an employee retention program is an effective way of making sure key workers remain employed while maintaining job performance and productivity.
A company can significantly benefit from employee retention programs because of a direct effect on an employer’s bottom line. High turnover can be very expensive. According to the Society for Human Resources Management, “employee replacement costs can reach as high as 50 to 60 percent of an employee’s annual salary.” Strategies geared towards retaining good workers helps offset employee replacement costs and reduces the indirect costs such as decreased productivity and lost clients
======================================================
======================================================
Follow me on Facebook @yesIcanandIwill
Follow me on Twitter @CanindianM
Follow me on Instagram @CanindianM
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