{"id":96619,"date":"2023-03-23T01:57:23","date_gmt":"2023-03-22T23:57:23","guid":{"rendered":"https:\/\/factorialhr.com\/blog\/?p=96619"},"modified":"2024-01-02T12:05:17","modified_gmt":"2024-01-02T10:05:17","slug":"employee-tenure","status":"publish","type":"post","link":"https:\/\/factorialhr.com\/blog\/employee-tenure\/","title":{"rendered":"Employee tenure: What is it and what are the benefits?"},"content":{"rendered":"

For some time now, many employers have found it tough to get employees to stick around. While voluntary turnovers have slowed somewhat since the so-called \u201cGreat Resignation\u201d, many companies are dealing with the after-effects, like skill gaps and training new employees. All of which can be expensive and time-consuming. Others are taking measures to retain top talent, such as beefing up <\/span>benefits and compensation<\/span><\/a> packages and implementing employee tenure programs.<\/span><\/p>\n

According to a recent <\/span>Forbes article<\/span><\/a>, voluntary quits rate and employee turnover tend to point to things to come, rather than indicate things that have already happened. Although we know that high levels of job switching have taken their toll on employers, we haven\u2019t yet felt the full consequences of the Great Resignation.<\/span> If you are a small business owner or work in HR, you know that with employee turnover, prevention is much better than cure. And, in light of this, employee tenure might be a good way to boost retention. <\/span>But what is employee tenure? And what are its pros and cons?\u00a0<\/span><\/p>\n

In this article, we\u2019ll explore the topic and lay out some of the benefits and drawbacks of having tenured employees. Additionally, we\u2019ll include resources like average employee tenure rates per industry to use as a reference.<\/span><\/p>\n

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