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In 2012, Jones Auto Repair noticed they were having an extremely high turnover of mechanics
After these changes, Jones Auto noticed a 80% increase in employee retention!
COST:
From Forbes:
"Employee retention may cost upwards of 50% of the employees salary in benefits and incentives"
References
Kappel, M. (2020, July 1). 4 Ways To Keep Employee Retention High In The Age Of Low Unemployment. Retrieved from Forbes.com: https://www.forbes.com/sites/mikekappel/2019/04/17/4-ways-to-keep-employee-retention-high-in-the-age-of-low-unemployment/#5c371fc519c0
Heathfield, S. M. (2020, July 1). What Is a Stay Interview with Employees in the Workplace? Retrieved from thebalancecareers.com: https://www.thebalancecareers.com/what-is-a-stay-interview-1917998#:~:text=The%20stay%20interview%20is%20an,thoughts%2C%20needs%2C%20and%20feelings
Genzorová, T. (2017). EMPLOYEE BENEFITS AS ONE OF FACTORS OF WORK MOTIVATION. CBU International Conference on Innovation in Science and Education, 448-449.