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Scott Galloway: Do This In Your 20s To Make Millions In Your 30s
My First Million
The Importance of Employee Retention
Employee retention is crucial for the success of a small business as finding and keeping good employees is vital. Retention is the key to preventing employees from leaving for companies like Google due to significant switching costs. Creating an environment where employees want to stay is the responsibility of the entrepreneur or CEO. Studies show that the number one source and lever for retention is not compensation or culture, but rather whether an employee has a friend at work.
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