Retaining Employees Is NOT a Simple Fix – but a Good Result

Online sources state that “Top talent doesn’t stick around because of trendy policies — it stays when every HR practice clicks together like a well-built machine.” Their thrust is that employers must take the long view to employee retention, and doing so literally pays off. Employers that have integrated systems for hiring, compensation and career advancement outperform those that have standalone policies – and do so dramatically. Other findings of their study are that pay is not a long-term retention asset, and lowering hiring standards actually has negative results over time. A key finding reveal that employees earn 3.4× more and stay 2.2× longer. Their deduction is that “culture isn’t a slogan — it’s a system built behind the scenes.” And it builds on itself: “Companies strong in retaining older workers and growing leaders internally are 55 percentage points more likely to retain talent overall.”