Mentoring your way to improved retention

|Canadian HR Reporter|Last Updated: 09/08/2003

Supporting employee career development is gaining popularity in the drive to reduce turnover. And mentoring programs are a cost-effective strategy that also keeps skilled employees motivated, loyal and committed to the corporate cause.

Mentoring is a leading strategy companies can use to retain employees, explains Rey Carr, president of Peer Resources Inc., a not-for-profit company that helps businesses and other groups establish mentoring programs.

“It is a much cheaper solution than the cost of replacing a worker at two times their salary plus lost productivity, lost revenue, comprised customer service and reduced employee morale.”