Employee retention refers to the ability of an organization to retain its employees over time. High retention rates are often indicative of a positive work environment and effective management practices. Conversely, high turnover rates can be costly and disruptive. Strategies to improve employee retention include providing competitive compensation, offering professional development opportunities, fostering a positive company culture, and ensuring work-life balance.

For instance, in the tech industry, companies might retain employees by offering flexible work arrangements, career growth opportunities, and a collaborative work environment. Regularly gathering and acting on employee feedback also helps in addressing issues before they lead to turnover.