Staff Retention
As difficult as it is for companies to locate and hire new technical talent, many are starting to find that it’s even more difficult to keep the people that they already have. Those eye-popping salaries that other companies offer are hard to resist, especially when coupled with bonuses and other benefits that your company may not be able to offer.
Staff retention is critical for business operations. It’s expensive to recruit and train replacements, and when people leave they take their knowledge and experience with them. This is the sort of thing that can derail projects for months or more, compounding already expensive replacement costs that, according to Gallup,[37] can range anywhere from 50 to 200 percent of the salary of ...
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