In the marketing world, it’s well understood that building happy and loyal brand advocates is the key to ensuring a healthy stream of returning customers.
In the recruitment space, many companies fail to recognize the lessons inherent in customer loyalty schemes. And according to The Bureau of National Affair, that lack of recognition is costing U.S. businesses an estimated $11 billion in lost revenue — every single year.
This situation is what we call “employee turnover”, or the number of employees who leave an organization and need replacing.
