5 Strategies to Reduce Employee Turnover

Employee turnover costs far more than most companies realise. Industry estimates suggest that replacing a mid-level employee costs between 50% and 200% of their annual salary. Here are five strategies that consistently deliver results. First, invest in onboarding. Second, provide clear career pathways. Third, train your managers. Fourth, conduct stay interviews. Fifth, review your total compensation package annually against market benchmarks. The common thread across all five strategies is intentionality. Retention does not happen by accident.