Figuring out how to retain the best employees remains a top priority for every business owner. This shouldn’t be a surprise: according to a study by the Center for American Progress, the typical cost of turnover is 21 percent of an employee’s annual salary.
Retention has become even more of a hot-button issue as Americans’ attitudes toward changing jobs begin to shift. The Bureau of Labor Statistics reports that workers born between 1957 and 1964 held an average of 11.7 jobs between the ages of 18 and 48, staying at each job for around 4.4 years. But a startling trend