Replacing employees is expensive, plain and simple. Regardless of the business size, industry studies show the total cost of losing an employee can range from 1.5 to 2 times the employee’s annual salary. This is why you need to have solid employee retention strategies. Whilst there may not be a silver bullet to fight employee turnover, we’ve put together a list of employee retention strategies that will help you re-engage and keep your top performers.

1. Find why people are leaving and then fix it

2. Create a world-class onboarding process

3. Link employee work to greater company initiatives

4. Ensure managers give positive feedback

5. Communicate the shared vision

6. Perform regular compensation analyses

7. Offer learning and development opportunities

8. Stay on top of trends

9. Say farewell, well