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How to Boost Employee Retention Rates

[ 0 ] May. 24, 2013 | SBO Editor

It’s important to do what you can to retain your experienced employees, who have valuable skills and can create a sense of continuity during ownership transitions, says Carole Spooner of Succession Services. She suggests tactics such as instituting a performance management system that lets employees know how they’ll be evaluated, providing opportunities for employees to develop new skills and offering flexibility in scheduling when possible, she writes. However, “retention initiatives are not substitutes for fair pay,” she cautions.

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Category: Features