Talent retention is important. Oxford Economics found that due to the loss of productivity, staff turnover can cost around £25,000 a year. This isn’t limited to big companies either; SMEs face this whopping cost if they fail to implement retention strategies too. But what can businesses do to combat employee turnover?
Firstly, we must shift our paradigm beyond thinking a job is enough to retain talent. We must move from a reactive to a proactive approach by thinking about it strategies before hiring. Internal marketing can help.
What is Internal Marketing?
In a theoretical sense, internal marketing is a holistic approach