Key Factors for Employee Retention Program

As the year comes to an end, we would like to highlight the major achievements of 2013 in the areas that we consider strategically important for Auriga and its clients in the long term.

Retention has been a buzzword for the last year or two. Highly motivated, loyal, and reliable employees are the pot of gold at the end of the rainbow for every business owner. Meanwhile, a recent North American engagement survey conducted by Gallup found that 70 per cent of the work force is actively or passively disengaged and only 41% of employees clearly understand what makes their employers’ brands unique. Combine this with the high costs of training and hiring; then factor in lost revenue, severance, lost productivity, and lost opportunities when replacing an employee (which takes from nearly three times an employee’s monthly salary to 20% of his annual salary); and it’s no wonder retention keeps business owners awake at night. In the IT industry—with its rapid day-to-day evolution, high demands in terms of employees’ education and mindset, and countless headhunters—the situation is even more of a nightmare. Continue reading