Five Best Practices to Retain High-Quality Employees

Sponsored by Kronos Incorporated
Tags: Customer Service, Employee Training, Retail - General
Type: White Paper
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The cost of hiring and training a new employee can range from 25 percent to 200 percent of a departing employee's annual compensation. While most managers believe that pay is the main reason employees leave, studies show that dissatisfaction with working conditions is a far more common reason for employees to find new work. There are strategies retailers can use to decrease turnover, however, including:

  • Giving employees the tools they need to succeed
  • Providing growth and development opportunities
  • Instilling a positive culture