Employee retention and development

Retaining a skilled workforce can often times be a challenge for any organization. While several factors play key roles in retention, it is important that an organization understand the factors that contribute to their own retention issues. Each company, organization, or industry faces challenges, internally and externally, that determine how well they can retain their employees. The first step, as with most issues, is to determine the causes for voluntary employee separation. Employees leave organizations for varying reasons. Some may leave for better pay and benefits, advancement opportunities, or a poor organizational culture. This study examined the factors that were leading to high employee turnover at Company XYZ. Company XYZ is a pseudonym for a Midwestern company referenced in this study. Although the company had experienced a stable workforce prior to the 2008 Great Recession, they began experiencing high turnover from 2016 through March 2020. The study, conducted in March 2020, included a literature review of retention factors, an employee survey and analysis, and recommendations, was presented to management and ownership for their consideration.