5 Best Practices for Employee Promotion: The Benefits, Types, and Tips to Do
loyal to the company. They may also stop looking for new employment opportunities because your company gives them a reason to stay. Remember: a study conducted by Employee Benefits News has shown that losing an employee can cost your company a significant amount, precisely 33% of their yearly salary. This means that when an employee resigns, you're losing their skills, time, and a considerable amount of funding. Improve workplace morale and productivity. By embracing employee recognition initiatives, like internal