Often asked: What does retention mean?

What do u mean by retention?

1: the act of continuing to possess, control, or hold moisture retention. 2: the power or ability to keep or hold something memory retention. retention. noun.

What is an example of retention?

Retention is the act or condition of keeping or containing something. An example of retention is a dam holding back a river. An example of retention is someone being held in a rehabilitation center. An example of retention is memory.

What does retention mean in business?

Retention is defined as the process by which a company ensures that its employees don’t quit their jobs. Every company and industry has a varying retention rate, which indicates the percentage of employees who remained with the organization during a fixed period.

What does retention mean in a job?

Employee retention refers to the ability of an organization to retain its employees. In a business setting, the goal of employers is usually to decrease employee turnover, thereby decreasing training costs, recruitment costs and loss of talent and organisational knowledge.

What is the difference between retain and retention?

In context|obsolete|lang=en terms the difference between retention and retain. is that retention is (obsolete) a place of custody or confinement while retain is (obsolete) to belong; to pertain.

What is a retention process?

The customer retention definition in marketing is the process of engaging existing customers to continue buying products or services from your business. It’s different from customer acquisition or lead generation because you’ve already converted the customer at least once.

Why is retention important?

Retention of a positive and motivated employee is very important for the organization’s success. Increases Morale − Employees who enjoy what they do and the atmosphere in which they work are more likely to remain employed with their organization over a longer period of time.

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What is a retention department?

And that’s why cable and satellite companies created a department to try and keep you happy: The customer retention department. As the name implies, it’s the department that is called on to keep customers who are thinking of dropping service.

What does retention factor tell you?

However, in column chromatography, the retention factor or capacity factor (k) is defined as the ratio of time an analyte is retained in the stationary phase to the time it is retained in the mobile phase, which is inversely proportional to the retardation factor.

What’s another word for retention?

What is another word for retention?

custody maintenance
preservation retaining
confinement detainment
detention holding
reservation withholding

What is the employee retention rate?

An organization’s employee retention rate refers to its ability to retain employees over a period of time. Internally, it also refers to the organization’s efforts to engage and retain its team members. The rate of turnover at a company refers to the percentage of employees who leave over a given period of time.

What is customer retention examples?

One of the most common customer retention examples is rewarding consumers for doing business with a brand. Rewards programs encourage customers to return by giving them discounts, exclusive access, or special offers. Starbucks has one of the most popular and praised customer rewards programs.

What are the employee retention strategies?

Retention strategies

  • Investing in employees‘ professional development.
  • Establishing clear-cut expectations and policies.
  • Offering benefits package.
  • Creating a culture of open communication.
  • Not overburdening employees.
  • Providing employees with meaningful work.
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What is retention risk?

Risk retention is an individual or organization’s decision to take responsibility for a particular risk it faces, as opposed to transferring the risk over to an insurance company by purchasing insurance. Risks they choose not to retain are transferred out via a reinsurance policy.

What is employee retention and why is it important?

Having a high retention rate means keeping staff members long-term, resulting in less time and resources required for training new staff and having the loyalty needed to run a business. Consider the amount of time, resources, and money that goes into training a new employee.

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