Why is Managing Retention Risk Important?
Employee turnover can be a costly problem for any organization. It impacts everything from morale and productivity to overall reputation. That’s why managing retention risk is a crucial part of any long-term plan.
So, what is retention risk? It refers to the possibility that employees will leave an organization, leading to instability and a loss of institutional knowledge. Companies that don’t address retention risk are more likely to see those negative consequences.
This article will explore the factors that contribute to retention risk, methods for figuring out who is most at risk of leaving, and effective strategies for keeping valuable employees on board. We’ll also look at industry insights and best practices that can help you create a plan to manage retention risk at your organization.