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Employee Retention in 2024: Key Trends and Strategies

December 14, 2023

Employee Retention and “Navigating the Employee Turnover Tsunami!”

That’s the challenge operation leaders face in 2024. With an average annual workforce loss rate of 18% in most companies, and an alarming 50-60% in contact centers and BPOs, the stakes have never been higher​​. (Source)

Why are Employees Jumping Ship? It’s not just about the paycheck. The reasons range from poor pre-boarding experiences, job shock, inadequate training, lack of motivation, burnout, to unclear career paths​​.

The High Cost of Goodbyes: Replacing an employee can cost a staggering $10k to $20k per agent. Beyond the financial strain, companies face low morale, increased workloads leading to burnout, and a brain drain​​.


2024 Retention Toolkit:

Employee Retention

  • Transparent Job Descriptions: It begins with setting realistic expectations – an accurate job description can prevent job shock.

  • Engaging Pre-boarding: Early engagement can reduce the risk of first-day ghosting.

  • Goal Alignment: Clear expectations and insights help employees stay on track.

  • Culture of Learning: Microlearning keeps skills sharp and minds engaged.

  • Effective Coaching: Time-efficient coaching backed by data analysis enhances development.

  • Visible Career Paths: Mapping out clear career trajectories can curb voluntary attrition.

  • Holistic Management: Addressing workloads and wellness checks can prevent burnout.

  • Gamifying Performance: Applying game mechanics in the workplace spurs motivation and engagement​​. Find out More!



Employee retention in 2024 is more than a HR issue; it’s a strategic imperative. The future demands innovative strategies to not just retain, but to foster a thriving workforce. It’s time to turn the workplace into a bastion of growth, engagement, and fulfillment.


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