Regardless of what industry you’re in, your people are your most valuable resource. Which is why turnover is such a major problem. To be successful and remain competitive, you must ensure that your most talented employees are engaged and retained. To do this, start by considering how your employees are compensated. While salaries are certainly important, consider other forms of compensation including health insurance, vacation policies, or 401(k) contributions. Also, ensure your employees feel recognized for their contributions toward the success of the organization. This can be informal or formal. It’s crucial to provide career development opportunities for employees—if they feel stagnant in their positions, they will likely look for growth elsewhere. Promote a healthy work-life balance, and make sure your employees have the right tools and resources they need to be successful in their roles. Finally, open lines of communication and encourage two-way feedback.