With employee turnover costing businesses an average of $30,680 per employee annually, it’s important for employers to focus on career advancement, employee recognition and strong leadership to help manage retention, says Keka DasGupta, board chair at non-profit organization CERIC.

A business strategy that recognizes people want to evolve in their work can also help the employer evolve, she notes, adding employees need to see what their potential futures could be within a company or they may look elsewhere.

“We often talk about in an annual review, but I remember when I joined IKEA Canada [early in my career], that company was ahead of its time [because it asked right away] where I wanted to go within the company. We were told, ‘If you want to work in our global headquarters in Sweden one day, tell us.’ So there was this big picture thinking and we need that dialogue to be part of our everyday culture if we want to create internal........

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