An Employee Retention Risk Matrix is a tool used by companies to assess and analyze the risk of losing key employees. With the help of this matrix, employers can spot trends in employee departures, identify areas for improvement, and provide educational resources or incentives to ensure employees stay with the organization. By taking into account factors such as job level, salary level, experience, tenure, and performance, employers can create an effective employee retention strategy to mitigate risks and improve employee engagement. The matrix serves as an essential element in any successful HR plan, and should be updated regularly to reflect changing business needs.