An organisations health is oftentimes reflected in its employee retention rate
. Employee retention refers to the period during which a given individual works with a particular company. A companys employee retention rate is calculated by taking the aggregate of all individual employee retention periods. Employees are likely to stay on in a company where they are consistently achieving satisfactory levels of career growth and are provided the opportunity to do interesting and enjoyable work. In a scenario where this is happening, ergo a companys employee retention rate is high; it is more than likely that the company in question will be one that is successful.
If one were to apply this logic backwards, it would be safe to say that companies that wish to be successful need to ensure that they have a high employee retention rate. This can only be achieved by creating a scenario where employees are happy and wish to continue their association with the organisation. There are many strategies that can be implemented in order to achieve this and this is where HR consultants come into the picture. HR consultants have the necessary experience to implement policies that will increase the employee retention rate of your business or organisation.
Quantum Human Resource Consulting is a firm that is based in the South Melbourne area. Quantum provides a vast array of HR solutions and services to small and medium size businesses. For more information about how Quantum can help you and your organisation, please stop by the company website at www.quantumhr.com.au