If bosses are offering help with grocery bills, retaining employees must be tough
In current tight labour markets, staff retention is critical. Retaining a valued employee is cheaper than replacing one who has resigned. Putting a price on staff retention is difficult, though. An employee’s goodwill towards their employer is intangible and, while a human resources director can always spell out the cost of replacing an employee, it is not always possible to prove how much they have saved the business by keeping another.
A little-reported transaction last week highlighted the worth companies put on employee engagement and how profitable the business of helping employers with staff retention has become.
Reward Gateway, a UK-based employee engagement platform whose software is used by clients including Samsung, Heineken, Marks & Spencer and Vodafone, agreed to a takeover by the