RETENTION
Economic and demographic conditions in Australia and globally, including skills shortages and a shrinking labour market, compound the pressures on business to find and retain talent. In a tight labour market organisations often resort to short-term fixes such as offering higher salary packages to temporarily retain employees. These approaches however do not address the underlying causes of disengagement and these same employees eventually leave. The retention risk remains.
Where key talent play a role in the future of your organisation, risk of this nature drives volatility into your business forecasting - and ultimately, your bottom line.
At Chambers Brook, we believe that measuring what makes employees stay as opposed to counting those leaving is the key to improving retention. Understanding why some cohorts remain committed and productive whilst others leave or fall into the dead wood category can unlock hidden potential in an organisation.
Retention is inextricably linked to employee engagement, career development and the culture of the organisation.
What matters is not how many people leave - but who leaves, when, why and what's the value of the skills and knowledge they take with them.
Identifying 'why', can be the difference between success and failure.
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