Define: Retention

Business, Legal & Accounting Glossary

Definition: Retention


Quick Summary of Retention


The ability to keep repeat customers buying your product or services.



What is the dictionary definition of Retention?

Dictionary Definition


The continued possession, use, or control of something.

  • The act of retaining or something retained
  • The act or power of remembering things
  • A memory; what is retained in the mind
  • The act of withholding; restraint; reserve.
  • A place of custody or confinement.
  • The right to withhold a debt, or of retaining property until a debt due to the person claiming the right is duly paid; a lien.
  • That which contains something, as a tablet; a means of preserving impressions.

Advertisement



Full Definition of Retention


The condition of retaining (keeping) something.

 


Advertisement



Examples of Retention in a sentence


Successful companies need to foster a safe and rewarding working environment so that employee retention remains at a high level.
With so many products being recalled, the company is concerned about retention.
They provide a very good repair and replacement service, which has contributed to their high retention rate.
“You may be able to memorise the facts in the short-term, but how well is your retention of those facts over the long-term?”


Synonyms For Retention


keeping, holding, withholding, retaining, maintenance


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/retention/
Modern Language Association (MLA):
Retention. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 05, 2020 https://payrollheaven.com/define/retention/.
Chicago Manual of Style (CMS):
Retention. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/retention/ (accessed: April 05, 2020).
American Psychological Association (APA):
Retention. PayrollHeaven.com. Retrieved April 05, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/retention/

Definition Sources


Definitions for Retention are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 15th February, 2020