Effective strategies to minimize turnover costs include:
Enhancing Employee Engagement: Engaged employees are less likely to leave. Invest in building a positive company culture. Offering Competitive Compensation: Ensure that your compensation packages are competitive within the industry. Providing Career Development Opportunities: Offer training and development programs to help employees grow within the company. Implementing a Robust Onboarding Process: A comprehensive onboarding process can help new hires integrate quickly and effectively. Conducting Exit Interviews: Understand why employees are leaving and address any recurring issues.