What is Employee Turnover?
Employee turnover is the process of replacing workers who leave an organization with new hires. It is a normal part of the employment process, but high levels of turnover can be disruptive and costly for an organization.
There are several reasons why employees may leave an organization, including:
- Better job opportunities elsewhere
- Dissatisfaction with pay or benefits
- Poor fit with the organization's culture or values
- Lack of advancement or development opportunities
- Poor working conditions or relationship with the supervisor
The costs of employee turnover can include the direct costs of recruiting and training new hires, as well as indirect costs such as reduced productivity and the loss of institutional knowledge. High levels of employee turnover can also have negative effects on customer service and employee morale.
To reduce employee turnover, organizations may try to improve working conditions, offer competitive pay and benefits, provide opportunities for growth and development, and foster a positive company culture. It can also be helpful to regularly assess employee satisfaction and engagement and to address any issues that may be contributing to turnover.