Retention with a focus on inclusivity
High turnover rates cost organizations a lot of time and money. Between recruitment and training, it costs on average over $4,000 to replace a single employee.
So, how do you get good employees to stay?
No matter your industry, inclusion should be a key ingredient of your strategy. An inclusive culture lays a foundation for long-term retention. When employees are heard, have a sense of belonging, and are motivated to contribute their strengths, they have a stronger loyalty to their team and their employer.
A retention strategy should aim to foster connection, provide opportunities for growth and advancement, and manage issues. Ultimately, the goal is to show your employees that they are valued.
Many good employees leave because of a bad manager or team dynamics. Therefore, it is also important to train managers and leaders to keep their team happy, engaged, and productive to promote retention.
The resources below focus on inclusive retention strategies and the needs of each equity-deserving group.