Developing professional skills of your associates is a goal that many business owners and decision makers have. Attracting top talent is a challenge in and of itself, but retaining it is a whole different ball game. In this ever changing world in which we live in, top talent is seeking out growth: whether it's growing into a new role at the same company or expanding the same role at a different company, they will achieve it with or without you. In the last 50 years the workforce has changed drastically, one example of this is the average turnover rate. In 1950, companies experienced an estimated 4% turnover rate of their entire workforce; in today's modern world 18% is average. Some look at these figures and draw conclusions that people just don't want to work hard anymore. But is the increase in turnover rate really the fault of employees quitting when the #1 most frequently cited reason for quitting is inadequate pay? Considering that most companies no longer incentivize employees with pensions, barely keep pay consistent with inflation, and frequently remind employees that they are replaceable; people are no longer incentivized to remain employed by the same company for long periods of time. When the average person starts a new job at a new company, they can expect anywhere from a 5% - 20% pay increase. So how can we attract and keep top talent?
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