What is Retention Strategy?

Retention strategies definition

Retention strategies refer to policies companies follow in order to retain employees and reduce turnover and attrition and ensure employee engagement.

The main goal is to meet the expectations of employees without losing sight of the company’s goals to ensure maximum return on investment.

Retention strategies

1. Investing in employees’ professional development

2. Establishing clear-cut expectations and policies

3. Offering benefits package

4. Creating a culture of open communication

5. Not overburdening employees

6. Providing employees with meaningful work

• Competency Modeling
• Performance Improvement
• Johari Window
• Virtual mentoring
• Job Requirements
• Learning Style
• Managed Service Provider (MSP)
• Bereavement Leave
• Career Summary
• Competency-Based Pay
• Bumping
• Availability analysis
• Protected Concerted Activity
• Recruitment Process Outsourcing (RPO)
• Early Return to Work program
• Pre-employment screening