Employee turnover has always been expensive, and experts warn that the cost of employee attrition keeps rising. Tight labor markets, a strong economy, and increasingly collaborative jobs are just some of the explanations given for the high price of losing employees. While some of these “macro” factors are beyond an employer’s control, there is substantial research showing practices employers can implement that encourage employees to remain and grow with an organization. So, why do people quit? It is commonly thought that employees often leave their jobs because they do not like their boss, they perceive low opportunities for growth, or they are offered a better opportunity somewhere else. However, new research reveals that what really affects career decisions are employees’ sense of how they are doing compared to their peers or where these individuals thought they would be at a certain point in life. This course provides an overview of how to improve employee retention. Whether you are a sole practitioner with one or two employees or part of a much larger organization, this course will be valuable to you.
Learning Objectives
- Understand strategies to reduce employee burnout
- Understand how an employee’s sense of how they are doing affects retention
- Be familiar with ways to offer incentives and growth opportunities that reduce turnover
- Recognize career stages at which an employee is more likely to leave
Major Topics
- Why employee retention matters
- Management’s thoughts on turnover
- Techniques employers use to retain and grow their employees
- Aspects of employment that matter most to employees
- Factors that contribute to employee turnover in accounting and finance professions
