What is Employee Turnover?
Employee turnover refers to a rate at which employees exit a company and are replaced by new ones. It may be either voluntary (resignations) or involuntary (terminations). A high turnover can be an indication of job satisfaction, management, or pay problems, and moderate turnover may introduce new skills and perceptions.
HR teams track turnover in order to detect problem areas and enhance retention strategies. Employee turnover is reduced, which saves recruitment expenses and maintains organizational knowledge and stability in the workplace, which ensures long-term business prosperity and increased engagement of employees.
Examples of Employee Turnover
1) Employee turnover was so high that it raised the cost of the company recruiting people.
2) When work culture was improved, it minimized the turnover rate of employees within the organization.
3) HR studies the turnover of employees in order to reinforce retention measures.
Synonyms
- Staff Attrition
- Workforce Turnover
- Employee Churn
- Staff Turnover Rate
- Employee Attrition
