Way better than correcting a quiz is going over common mistakes whole-group, giving a bit of time for students to review their quiz, and then giving an option to retake on broadly the same questions.

Way better than spending tons of time on corrections. The best way to remedy a mistake is to offer feedback, then give students a chance to try a similar problem.

You have to be careful about grade inflation. We offer retakes for quizzes but not for tests, which I think is a good policy.