What retains talent?

From Infomoney Currently, a company's employees are one of its most valuable assets. Losing them can end up being an extremely costly expense.

In an interview with Bloomberg, Google's senior vice president of HR and author of the book "Work Rules!", stated that most companies don't know how to retain their best employees.

"People don't stay for the money," Bock said, noting that more than a third of Google's first 100 employees still work for the company.

He also mentioned the reasons why employees continue working at a place. Check it out:

1. The quality of the people they work with.
"That's why hiring is so important," he said. Google has high standards for everyone it hires. Regardless of the position a person will fill, each candidate is screened by their potential boss, potential colleagues, a hiring committee, and CEO Larry Page, according to Business Insider.

2. The feeling that your work is meaningful.
"People want more than just to make money," he said. "They want to do something that means something." Furthermore, giving employees a sense of purpose has benefits beyond simply retaining them. He cited research by Wharton professor Adam Grant, which found that when people are able to connect their work to something meaningful, their productivity increases up to fivefold.

Regarding the benefits that Google offers its employees, he says: "The secret of the benefits is that, in reality, they don't retain or even attract people." Bock believes that they are not something that prevents people from leaving the company.