What is 'retention strategy'?

A retention strategy refers to the deliberate plans and actions implemented by an organization to keep its employees engaged and reduce turnover. These strategies are essential in maintaining a stable workforce, which in turn can lead to higher productivity, improved morale, and lower recruitment costs. By focusing on factors like job satisfaction, benefits, professional development, and work-life balance, retention strategies create an environment where employees feel valued and want to remain with the company over the long term.

The other choices highlight important aspects of human resource management but do not specifically define what a retention strategy is. Onboarding techniques focus on the initial integration of new hires into the company, aiming at making them comfortable and productive from the start. Recruitment strategies are concerned with attracting suitable talent to fill vacant positions, which happens before retention becomes necessary. Methods for enhancing workplace safety are aimed at protecting employees and can be a factor in retention but do not encapsulate the broader approach needed to keep employees engaged and committed to the organization.