Employee Retention (October 2, 2007)
According to Watson Wyatt Worldwide study, companies with highly committed employees tend to post sharply higher shareholder returns. Even though most companies do a good job recruiting employees, there is still some work to do about employee retention because it is expensive to replace employees. Two of the most important ingredients for running a successful business are hiring the most qualified person and showing caring and compassion. A trusting and respectful relationship is one of the most powerful drivers of employee commitment and is essential for building not only employee loyalty but also loyalty in our personal relationships.