The term "employee retention" primarily refers to what?

Employee retention primarily refers to the organization's capability to keep its employees engaged and satisfied, thereby reducing turnover rates. When an organization successfully retains its employees, it fosters a stable workforce, which enhances productivity, minimizes the costs associated with recruiting and training new staff, and builds a strong institutional knowledge base. Retention strategies often involve creating a positive work environment, offering competitive salaries, and providing opportunities for professional development and career advancement. Thus, the focus here is on maintaining the workforce rather than only on hiring new employees, training them, or managing benefits.