Facing significant talent pressures in an environment of unprecedented technological advancement, employers are challenged to recruit and retain the talent that will help them manage current opportunities and plot long-term growth and succession strategies. The fact is, 60% of organizations struggle to recruit cybersecurity talent, and more than half struggle to retain qualified people.1 A clear-eyed examination of the high cost of replacing top talent reveals significant short and long-term costs and should be enough to make most employers prioritize investment in their employee retention strategies.
A proactive approach to employee retention should emphasize upskilling, stay interviews and performance reviews. In this article, we’ll examine the true costs of losing top talent and how a “stay and grow” retention strategy can tap into the enormous potential of employees’ eagerness to learn new skills and reduce the financial, operational and cultural consequences of employee turnover.