To keep voluntary retention down, Kovach recommends that employers increase employee engagement, and they can do this by tying in employees with organizational success. For instance, an employer can form a taskforce made up of employees appointed to deliverables that are directly related to organizational goals. By being a part of this taskforce, it tells employees that they provide so much value that they are a necessary part of the employer attaining its objectives.

"When you put an employee on a taskforce, that person thinks, 'I'm high enough or valued enough to be part of this team,' and that's encouraging to most people. You have to find what makes your employees feel valued."

Creating development program is another way to encourage engagement, Kovach says. For some employees, leadership training is of interest while others are looking to improve their technical skills. But no matter the training program, employers should be sure employees have the chance to use these newly developed skills.

"Of course, the employer has to ensure that as it's developing all these skill sets it's not just creating a really sellable product that's going to leave for a competitor, so it's important to do career pathing and try and identify areas within the company where an employee's skills can be leveraged," Kovach says. "The opportunity may not be today; it maybe be next month, but a plan to use these skills should be in place."

Although voluntary retention is a large problem among employers, involuntary retention is still a concern, Kovach adds. The economy is still struggling, and employers have to find cuts from somewhere. While many employers are still losing talent because of employees choosing to move, the economy is also impacting employers' financial decisions.

"Labor is the biggest cost for businesses, and with the slow economic rebound, reductions in labor happen," Kovach says. "Employers have to consolidate departments and job functions, and with that come reductions."