What is retainment?

Retention is the ability of an organization to retain its most valuable assets, including employees, customers, and partners. Retention is becoming increasingly important in today's competitive business environment, as businesses are looking for ways to maintain and grow their market share. Employee retention measures the length of time employees stay with a company, while customer retention measures the percentage of customers who continue to do business with the company over time. Retention strategies typically include a combination of incentives, career development opportunities, and employee engagement programs aimed at increasing employee satisfaction and loyalty, and delivering an excellent customer experience that keeps customers coming back. High retention rates can lead to improved productivity, lower recruitment costs, and increased profitability.