Why Your Business Needs an Employee Retention Strategy
Keeping great people is no longer just a “nice to have” – it’s a business necessity.
Australia’s skills shortage, intense competition for talent, and the transparency of today’s job market mean that without a clear employee retention strategy, your business risks losing productivity, morale, and profitability.
Here’s why retention matters — and how online platforms such as Brownie Points can give you the edge.
- The Skills Shortage Is Real
According to the National Skills Commission, 286 occupations faced shortages in 2024, up from 153 in 2023. This is especially severe in fields like healthcare, engineering, hospitality and financial services. When top performers leave, replacing them is harder, slower, and more expensive than ever.
- Engagement Drives Retention
Engaged employees are 87% less likely to leave. Engagement isn’t just about doing the job – it’s about feeling connected, respected, and valued.
- Attracting Talent Is Tough
In today’s job market, candidates research potential employers thoroughly. They read reviews, check social media, and look for signs of a healthy workplace culture.
If your company doesn’t have a reputation for valuing staff, attracting top talent becomes a challenge.
- Boost Job Satisfaction
Job satisfaction is shaped by pay, relationships, environment, and work-life balance. High satisfaction strongly predicts higher retention.
- Save Time and Money
Replacing employees costs far more than a salary – there’s recruitment, onboarding, and lost productivity. Morale also takes a hit when workloads shift to cover vacancies.
Final Word
An employee retention strategy isn’t optional – it’s essential for productivity, competitiveness, and growth.
Brownie Points is proven to give you the tools to build a culture of recognition that keeps people engaged, loyal, and motivated.
In a world where employees have more choices than ever, showing you value them isn’t just smart – it’s vital for your business success.
Tony Delaney, CEO Brownie Points
