Why Finance Should Play a Role in Improving Your Employee Retention Rate in 2022

Financial professionals are uniquely qualified to collaborate with CEOs and HR managers to secure and retain the talent that their companies need today through more competitive benefits and investments in employees.

• Focus on employee engagement to increase retention and satisfaction while enhancing your reputation to attract top talent.
• In 2021, the US saw the highest number of voluntary turnover in 20 years.
• The cost of turnover is 1.5-2X employee salary.
• Areas where CFO can improve employee retention:
  • Compensation strategy
  • Benefit options and evaluating vendor proposals.
  • Learning and development (L&D) program options.
  • Negotiate wellness plan benefits and rewards.
  • Create dashboards for retention KPIs and provide benchmarking against prior year or industry standards.
  • Tax credits for new retirement plans

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