Just like tip #18, it is far easier and less expensive to keep existing employees than to find new ones. Not only do new employees cost you training dollars and lost opportunity as he gets up to speed, but losing an employee creates a vacuum of company knowledge. All of the company information learned by that employee is hard to retain and losing key employees can cause a ripple effect throughout an organization.
There are many things you can do to reduce employee turnover. Try techniques such as spending on professional development, creating an organization wide succession plan, or praising your employees.