Employee Retention of New Hires: Best Practices

Even with the economy turning down, employee retention is important.  The cost of hiring, training, and supervising new employees is substantial.  If a person leaves before the company recoups all of these costs, then turnover is a significant cost.  It’s only going to get worse in the coming decade, when baby boomer retirements match new entrants to the labor force.

The Aberdeen Group has just released a new survey of best practices (free, but registration required) for retention of new hires.  Their key points:

The report was based on a very broad survey, covering different industries and different size companies, including large corporations and small businesses.  Every senior executive should address employee retention, and browsing this report is a good way to get started.