Quick Answer: What Is Another Word For Retention?

How is retention rate defined?

Retention rate is the percentage of customers a business retains over a given period of time..

Is a high retention rate good?

High employee retention rates are good for your customers and your employees. While your customers benefit from the knowledge and expertise of more seasoned employees, your employees will benefit from deep bonds with their co-workers.

How do you calculate retention rate?

To calculate your employee retention rate, divide the number of employees on the last day of the given period by the number of employees on the first day. Then, multiply that number by 100 to convert it to a percentage.

What is opposite of retention?

Antonyms & Near Antonyms for retention. dispossession, relinquishment, surrendering, transferal.

What is the average customer retention rate?

20%According to Mixpanel’s 2017 Product Benchmarks report, for most industries, the average customer retention rate was below 20%. In the media or finance industries, retention over 25% is considered above average, and in the SaaS industry, retention above 35 is considered above average.

What is the difference between attrition and retention?

What is the difference between attrition and retention? A retention rate is the percentage of employees your business has retained over a specified time period. An attrition rate looks at the exact opposite or retention. The attrition rate shows the percentage of employees you lost and did not replace.

What is the opposite of customer retention?

Customer churnCustomer churn refers to a business losing customers or clients. It’s the opposite of customer retention.

Whats another word for holds?

What is another word for hold?gripbearclaspgraspclenchclutchcarryownpossesshave65 more rows

What does a retention mean?

1 : the act of continuing to possess, control, or hold moisture retention. 2 : the power or ability to keep or hold something memory retention. retention. noun. re·​ten·​tion | \ ri-ˈten-chən \

What is the opposite of retention rate?

In a nutshell, a retention rate is the percentage of employees your business has retained during a certain time period. Attrition, however, measures the exact opposite. … The attrition rate shows the percentage of employees you lost for one reason or another and did not replace.

What is poor retention?

In cases of poor retention policies, employees are just not bothered about the reputation of their office and avoid taking initiative to do something new. The employees who are there for a long time in the organization are trustworthy and the management can rely on them anytime.

What is a synonym for retention?

retention(n.) Synonyms: reservation, holding, keeping, retaining, detention.

What is the retention process?

The customer retention definition in marketing is the process of engaging existing customers to continue buying products or services from your business. It’s different from customer acquisition or lead generation because you’ve already converted the customer at least once.

What is a retention strategy?

Retention strategies refer to policies companies follow in order to retain employees and reduce turnover and attrition and ensure employee engagement. The main goal is to meet the expectations of employees without losing sight of the company’s goals to ensure maximum return on investment.

What is a good net retention rate?

Across all SaaS companies, the median Net Retention Rate is ~100%. Higher Annual Contract Value (ACV) products have a higher Net Retention Rates. For SaaS companies selling into small and medium businesses (SMBs), a good Net Retention Rate is 90%. For Enterprise SaaS, 125% is considered a good Net Retention Rate.