By Simone Allan, director of Mondo Search and an EO Sydney member
Retaining talent is important. I have personally worked in the recruitment industry in Australia for close to 20 years and have found that staff retention may be difficult yet it plays a vital part in the long term success of any business.
Losing a new staff member is not only disruptive however it is also costly. The cost to replace a staff member can be approximately 50-100% of their annual salary. Take control by making retention a strategic issue and addressing the five W’s: