{"id":4693,"date":"2018-06-12T13:58:17","date_gmt":"2018-06-12T13:58:17","guid":{"rendered":"https:\/\/www.walkme.com\/blog\/?p=4693"},"modified":"2018-06-12T13:58:17","modified_gmt":"2018-06-12T13:58:17","slug":"employee-retention","status":"publish","type":"post","link":"https:\/\/www.walkme.com\/blog\/employee-retention\/","title":{"rendered":"6 Stats to Kick-Start Your Employee Retention Strategy"},"content":{"rendered":"A <\/span>shrinking candidate pool<\/span><\/a> and increased competition for top-notch talent are driving many companies to boost recruiting efforts. But, doing so without paying equal attention to employee retention is a costly mistake.<\/span>\r\n\r\nCompanies must adopt a data-driven strategy to maintain a high-quality workforce and compete with other employers. Only then can they identify the right steps to boost employee retention.<\/a><\/span>\r\n

Discover the tool that helps you retain your top talent and boost productivity.<\/a><\/h3>\r\n

The cost of poor employee retention<\/h2>\r\nBy most estimates, replacing an employee costs companies at least 30% of his or her annual salary. Multiply this by the total number of employees departing each year, and you\u2019ll quickly see how low employee retention puts a massive strain on your bottom line. <\/span>\r\n\r\nIn addition to the financial consequences, high turnover also has a dramatic impact on employee morale, engagement, and your ability to attract high-quality talent. <\/span>\r\n\r\nIt can even drive more employees to quit. After all, employees will be unlikely to plan a long-term career at a company where the average tenure is just a year or two, or maybe less.<\/span>\r\n\r\n\"employee\r\n\r\nBut identifying strategies to improve retention and reduce turnover is easier said than done. The first step is to answer a few key questions:<\/span>\r\n