EMPLOYEE TURNOVER
Employee Turnover
Employee turnover or staff turnover refers to employees leaving an organization and the position is filled by new hires. This indicator is used by organizations to analyze the health of their workforce and the stability of their human resources. High turnover rates are disruptive and costly for businesses, affecting productivity, morale, and overall performance.
Types of Employee Turnover
- Voluntary turnover happens when an employee chooses to leave the company for reasons such as a better job offer, personal reasons, or dissatisfaction with the company.
- Involuntary turnover occurs when the company terminates an employee's employment, such as for poor performance, misconduct, or layoffs.
Causes of Employee Turnover
- Unsatisfactory compensation and benefits
- Unhealthy work-life balance
- Poor management
- Lack of opportunities for growth
- Lack of recognition and appreciation