Staff turnover is a term that is used to represent the number of people in a given workforce who leave a firm’s employment for any reason in a given period. It is also known as employee turnover. Staff turnover is relevant when an employee needs to be replaced. So, if someone retires but their job doesn’t need someone else to step into it from the current workforce or to be recruited from outside, then this comes under the staff attrition. Most companies measure their turnover rates over the course of a year but quarterly, monthly and even weekly indices are just as valid depending on the sector.
Why is the rate of staff turnover important to employers?
What can employers do to reduce their staff turnover rate?
What challenges does a high staff turnover rate present companies with?
How can WorkBuzz help companies to improve staff turnover rates?