Employee retention is an organization's ability to keep its employees. It is characterized by low regrettable turnover and long tenure.
The intensifying war for talent and recent trends like the Great Resignation make retaining employees a strategic priority in organizations.
Employee retention can be expessed by a statistic, the employee retention rate, which is the percentage of employees that remain in an organization for a fixed time period.
Due to the high costs of staff turnover and its impact on employee engagement and performance, high employee retention rates are generally associated with increased productivity and maximized profits.