Employers should prioritize retention over hiring, study suggests
When people say they want career progression, and opportunities, what they mostly mean is they want more money. Unfortunately, most companies have fallen into the trap where if someone has a title of X they can only make up to Y, regardless of how good they are at their job or how long they've done it. When that happens then the name of the game is getting a promotion in order to keep making more money. That creates a perverse incentive, and the result is political bullshit that is typically misaligned with the company's interests which further drives away your high performers.End the perverse incentives. Pay your people well if they're doing a good job, regardless of how long they've been doing the same job or what their title is. Reward seniority and loyalty. Suddenly, you'll find that employee retention goes through the roof, and you don't have to worry about hiring new people all the time.