What is talent retention?
Talent retention is the iterative process of keeping productive employees with an organisation for as long as possible. Retaining top-performing employees is the backbone of a successful organisation, as it facilitates consistently high productivity and decreases costs associated with hiring. The opposite of talent retention is talent turnover, in which top performers voluntarily choose to leave an organisation to work elsewhere. Talent retention and talent turnover are often viewed as highly interrelated, as factors of an organisation can either persuade an employee to stay or convince an employee to quit. Though many factors influence talent retention, compensation and benefits are a common example, as a competitive package can be why an employee chooses to stay and a below-average compensation package can convince an employee to leave for a higher-paying job.
