Employee retention metrics are crucial for several reasons:
1. Cost Efficiency: High turnover rates can be costly due to recruitment, training, and lost productivity. 2. Employee Morale: Frequent departures can negatively affect the remaining employees' morale and productivity. 3. Customer Satisfaction: Consistent staff often leads to better customer service, as experienced employees are more skilled and knowledgeable. 4. Strategic Planning: Understanding retention helps in strategic planning for succession planning and growth.