A robust plan that organisations create to reduce turnover/attrition and increase employee engagement. This involves strategic actions to keep employees motivated and focused so that they stay with an organisation longer.
Something that is often overlooked is the importance of providing employees with meaningful work. Touching base regularly with employees to explore what motivates them will help shed light on areas that need improvement and chart a roadmap for the future. Focusing on retention strategies is well worth the time and investment because it also provides a detailed understanding of what aspects of culture a company wants to focus on, right from the hiring stage, all the way up to an exit interview.