An escalating competition for workers and a shrinking talent pool are coming together, giving employees the advantage in the job market and costing employers thousands of dollars per employee in turnover.

“Employers are missing the mark on improving retention for two main reasons,” says Danny Nelms, president of Work Institute, a HR consulting firm specializing in employee engagement and retention. “First, employers are not taking steps to understand their unique workforce; and second, they are not using exit interview methodologies that are dependable in revealing the real reasons employees leave.”

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