IT Employment

Improving Employee Retention by Developing Talent

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Executive Summary

The costs of recruiting and hiring employees, and low retention of valued employees, are major expenses for most organizations. It is possible to identify these general cost categories and to reach the undeniable conclusion that total costs associated with hiring employees to replace workers who leave an organization is substantial. This paper examines the problems associated with high employee turnover, and viable solutions to correct them and an exploration of how organizations may become smarter and more creative in ways of retaining their employees, and as a result become more competitive and more profitable.

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