Employer Branding
Retention
Enhance talent retention by gaining deeper insights into the underlying indicators behind their turnover intentions, such as their desire for internal or external mobility and their search for other job opportunities.
Why is it important to survey employees on retention?
- The average turnover rate in Europe stands at 11.7% (source: Eurostat).
- Replacing an employee incurs costs equivalent to around 6 to 9 months’ salary (source: SHRM).
Staff turnover comes with various costs, including financial losses, the departure of valuable talent and knowledge, a decline in the quality and stability of customer services, disruptions to team dynamics, an increase in counterproductive behavior, reduced appeal for the organization, and challenges in recruiting new talent. When should retention be measured?
- Once a year to monitor changes in the retention rate (recommended)
- After a period of major organisational changes (new strategy, reorganisation, etc.) to measure the impact on employee retention.
What are the benefits?
For the employer
- Retaining key employees, preventing their departure
- Maintaining in-house expertise and know-how
- Helping to ensure work continuity
- Enhancing team performance
- Reducing the cost of recruiting and training new staff
- Improving the perception of the employer brand
- Improving the quality and stability of services offered to customers
For employees
- Improving feelings of self-worth, recognition and job security among employees
- Contributing to a better work-life balance
Retain your best talents with Balencio
Choose one of our ready-made modules, customize it as needed
Determine the target groups of employees to be surveyed
Balencio questions them and follows up if necessary
Employees receive their results and support options
You get a global, anonymized overview of your results
You can identify your action points at a glance
Track results over time and compare them with the benchmark
