Business & Management Studies

Abstract

Employee attrition has become a major concern for businesses worldwide. The cost of losing talented and experienced employees can have significant negative impacts on company productivity, morale, and finances. While traditional approaches to addressing attrition such as financial incentives or employee perks have been proven ineffective, a new approach called the "Retention Revolution" is emerging. This approach focuses on building a culture of retention through employee engagement, development, and well-being. This article highlights the key factors that influence employee retention and explores how businesses can adopt this new approach to address employee attrition. By prioritizing employee engagement, development, and well-being, companies can reduce attrition and create a supportive and fulfilling work environment, leading to greater productivity and success in the long term.