Quick look: Retaining top talent is essential for business success. This article explores five proven employee retention strategies and how a professional employer organization (PEO) can help small and medium-sized companies build a workplace that supports, engages, and keeps staff long-term.
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People are the foundation of every business, and retaining them can lead to higher profitability, greater institutional knowledge, and a stronger company culture.
Conversely, turnover is costly; hiring someone new can cost nearly $5,000, and it takes an average of 44 and 60 days to fill non-executive and executive positives, respectively.
As workplace expectations shift, keeping talent requires a mix of measuring staff satisfaction, adapting to changing preferences, and delivering a positive employee experience.
Here, we dive into today’s most effective employee retention strategies, how a PEO can help you put them into action, and why there’s never been a better time to invest in a workplace where employees want to stay.
The time is now to prioritize employee retention
Turnover rates are lower than in recent years, with the current sustained period of low attrition referred to as “the Big Stay.” Per the Bureau of Labor Statistics (BLS), in April 2025, the national quit rate was 2.1%, while just over a year prior, it reached 3.4%.
Despite fewer employees departing, it’s an ideal time for employers to hone their staff retention strategies and prepare for the eventual uptick in resignations. Deloitte’s 2025 Gen Z and Millennial Survey found that 31% of Gen Z workers,