Retaining Employees is Cheaper Than Hiring New Ones [Infographic]

If you think that hiring new employees will give you back the lost productivity when the tough economic times have passed, you are kidding yourself.

Employee retention is the key to keeping above water in a downturn; loyalty and morale is always higher when an employer invests in the existing workforce.

Recruitment, hiring and training are often an unavoidable facts of life, but keeping your current employees happy can be the secret to higher productivity and lower turnover.

Why replace, when you can inspire–and retain?

According to this infographic by Mindflash.com, retraining existing human resources will be more effective—and less expensive.

Infographic after the jump…

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