Retention Strategy definition

Retention strategies are policies and plans that organisations follow to reduce employee turnover and attrition and ensure employees are engaged and productive long-term. The key challenge for businesses is ensuring a retention strategy aligns with business goals to ensure maximum return on investment. Corporate social responsibility is a key growth area of retention strategies – employees may be more likely to remain with an employer that shows a commitment to the local community or the environment. At the same time, CSR is increasingly aligning with the bottom line as consumers increasingly do business with companies that display strong social responsibility policies.