The nature of some industries makes it hard for their companies to retain talent. The friction between offer and demand makes the #informationtechnology and #consulting markets very dynamic, with low average retention years. Meanwhile, more traditional industries such as #pharmaceutical or #construction usually retain their employees for longer periods of time.
According to the 2020 Retention Report from the Work Institute, every resignation can cost a company up to one-third of the worker’s annual salary. So, if businesses want to keep their employees, they should put money into giving them updated benefits and salaries.
