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Why is it important to focus on Employee Retention?
Home » Human Resources » Employee Retention » Why is it important to focus on Employee Retention?Employees are internal customers. You work hard to keep your customers or clients happy, right? So it makes sense that you also work hard to keep your internal customers, or employees, happy, too. Because without happy personnel who enjoy their jobs and the workplace you provide, there’s no way your external clients will be happy.
That said, you’re probably thinking that money’s the answer. If so, you’re only partly right. According to the National Study of the Changing Workforce, published by the Families and Work Institute, earnings and benefits have only a 2 percent impact on job satisfaction. Surprised? In fact, job quality and workplace support have a combined 70 percent impact. And job quality and workplace support are two areas you can improve without spending a fortune.
When your employees are satisfied, your company is more likely to save money on such things as lost productivity, absenteeism, and turnover. Your customers will receive better care and more consistent care, because they’ll be working with the same people for a longer time period, instead of getting used to new employees all of the time. A long-lasting, satisfied group of employees also enjoys higher morale and even a more competitive edge, considering employees often deflect to competing companies. You want to keep them happy—and employed by you!
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