Employee Retention

[ɛmˈplɔɪi | rəˈtɛn(t)ʃ(ə)n]
Definition:

These are business strategies and policies that encourage employees to stay within the business, rather than looking for alternative employment. Employee Retention is the ability of an organisation to maintain their employees; employers use different strategies to retain their employees, some strategies include a good offer for compensation and benefits, a safe and nice working environment and development opportunities. 

Employee retention is important firstly because it sustains productivity flow; employees need to feel like they are valued and will get rewarded for their hard work within the organisation. It also reduces the cost of employing new members of staff, and to rather develop the skills of employees they already have.

Part of speech:
noun
Use in a sentence:
Having employee retention is essential for each organization.
Employee Retention