Employee retention is a major concern for today’s businesses. Turnover is expensive, both in terms of real cost and in terms of lost productivity. Finding and training a replacement can cost twice an employee’s salary; turnover can also lower the knowledge base in a company and decrease the performance and morale of the remaining employees. There are several steps a company can take to increase retention rates, but it really starts with the hiring process. By hiring selectively, a company can make sure it has the right human capital from the start. Companies should interview and test candidates carefully to ensure that they have the right skills for the job and that they will embrace the company’s culture. Training is another key factor in retaining employees. Offering avenues for employees to enhance their skills demonstrates that management values their continued contributions and their individual growth.