Staff Retention - GCSE Business Definition

Staff retention refers to the ability of a business to keep its employees and reduce the rate at which employees leave the business. It involves implementing strategies to motivate and engage staff, ensuring they feel valued and satisfied in their roles. Effective staff retention can save a business money, as hiring and training new employees can be expensive and time-consuming.

By maintaining a stable workforce, businesses can improve productivity and foster a positive workplace culture. In GCSE Business, staff retention is a key part of businesses successfully managing their human resources to achieve long-term success.