Retaining needed employees is a hot topic in today's market place. Concerns may focus on employee morale, reducing costs, improving customer service, reducing absenteeism, increasing productivity or avoiding costly legal fees. But paying attention to employee turnover contributes to solving problems in any of these areas.

The U.S. Department of Labor estimates that employee turnover can cost between $20,000 and $30,000 per incident. To roughly figure specific employee recruitment costs, figure one-third of an employee's annual salary, according to the International Telework Association & Council.

What is employee retention? Study these 15 parts for a comprehensive understanding of what this challenge means.

ELEMENTS OF RETENTION
1	Innovative compensation and benefits package
2	Effective rewards and recognition
3	Performance management aligning employee goals with business goals
4	Strategies for increasing employee satisfaction
5	Measures for drives of employee satisfaction
6	Career planning
7	Work/life strategy
8	Building new hire commitments
9	Competency-based strategies
10	Employee needs
11	Mentoring program
12	Defined role of corporate culture
13	Use of coaching for career development
14	An employee strategy to support growth and loyalty
15	Merger and acquisition retention strategy

Source: Saratoga Institute, 1997