What is one talent retention strategy that small and medium-scale businesses are using?

SMEs have a turnover rate of 12.0%, which is higher than the overall average rate of 10.6%. Therefore, it is important to develop at least one retention strategy. SMEs frequently find it challenging to implement salary increments or offer incentives due to limited budgets, but a well-structured certified training program can compensate for this.

Employees that envision that their organization has a bright future will stay. On the contrary, 25% of employees indicated that a lack of career development opportunities motivated them to seek alternative offers. Enabling employees to get training during working hours and to gain new skills helps your business to grow, it is also effective to retain talents with high aspirations and wish to excel in their industry.