Talent Retention
One of the greatest challenges facing companies today is retaining top talent. The yearly expense to an organization of replacing an employee (including separation, replacement, training and lost performance costs) can be as much as that employee’s salary for a year. Turnover also erodes morale among those who stay and harms customer retention.
AIR helps organizations understand how turnover is affecting their business and how they can gain from retention strategies to help them keep their valued employees. Because reasons for turnover vary by industry and profession, AIR’s approach is to do comprehensive analyses of a client’s retention issues, and then suggest solutions that are unique to that client’s specific needs. Our analyses address multiple factors including:
- Compensation and benefits
- Supervisor - subordinate relations
- Organizational culture
- Two-way communication
- Corporate identity/prestige, and
- Working conditions
All of these factors may play a role in determining employee retention, but the relative importance of each depends upon the organization. This is why we tailor our analytic instruments, including individual interviews, focus groups, surveys, and benchmarking, for each unique enterprise. To offer the most comprehensive solution to our clients’ retention needs, we will offer our own solutions or suggest services provided by our strategic partners. The ultimate desired result is a reduction in turnover and a stronger, more satisfied workforce.