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Why is staff retention so important?

High retention reduces lost knowledge, hiring expenses, and missed revenue opportunities. It amplifies workers contributions, allowing you to make the most of the talent you have. And retention drives better performance and improved business outcomes over the long term while delighting your clients and customers.

What does retention mean in business?

What Is Retention? Customer retention refers to a companys or products ability to retain customers over time. If a company or product has high customer retention, it means that customers return to purchase or continue using a product or service.

What does it mean when an employee is retained?

Employee retention is the organizational goal of keeping productive and talented workers and reducing turnover by fostering a positive work atmosphere to promote engagement, showing appreciation to employees, providing competitive pay and benefits, and encouraging a healthy work-life balance.

What does retain mean in work?

Retention is defined as the process by which a company ensures that its employees dont quit their jobs. Every company and industry has a varying retention rate, which indicates the percentage of employees who remained with the organization during a fixed period.

What does it mean to be retained in office?

A judicial retention vote differs from a regular election in that voters are not asked to choose from a list of candidates the judges on the ballot do not have opponents. Rather, the voter chooses between electing the incumbent judge to a further term in office (i.e. voting in favor of retention) or voting against.

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