Human Resources Management
“In a human resources context, turnover or labor turnover is the rate at which an employer gains and loses employees. Simple ways to describe it are "how long employees tend to stay" or "the rate of traffic through the revolving door." Turnover is measured for individual companies and for their industry as a whole. If an employer is said to have a high turnover relative to its competitors, it means that employees of that company have a shorter average tenure than those of other companies in the same industry. High turnover can be harmful to a company 's productivity if skilled workers are often leaving and the worker population contains a high percentage of novice workers.”(Wikipedia,Jan,2009) Turnover occurs when employees leave an organization and have to be replaced. With today 's baby boomer generation beginning to retire from the labor market, many companies are finding it increasingly difficult to retain employees. Turnover is becoming a serious problem in today 's corporate environment. The employment culture is changing as well. It is now relatively common to change jobs every few years, rather than grow with one company throughout the employment life as was once commonplace. In addition, employees are increasingly demanding a balance between work and family life.
Types of Employee Turnover
Turnover is classified in a number of ways. Each of the following classifications can be used, and the various types are not mutually exclusive: * Involuntary Turnover
Employees are terminated for poor performance or work rule violations * Voluntary Turnover
Employees leave by choice
Involuntary turnover is triggered by organizational policies, work rules, and performance standards that are not met by employees. Voluntary turnover can be caused by many factors, including career opportunities, pay, supervision, geography, and personal/family
References: Dr.John Sullivan, Not All Employee Turnover Is Bad — Celebrate “Losing the Losers” retried from http://www.ere.net/2009/04/06/not-all-employee-turnover-is-bad-celebrate-losing-the-losers/ Linda Banks, Reduce Employee Turnover: How to encourage your employees to stay retrieved from Nov 28,2010 http://www.suite101.com/content/reduce-employee-turnover-a20445 Wikipedia founder Jimmy Wales, Turnover(employment) retrieved from Nov 28,2010 http://en.wikipedia.org/wiki/Turnover_(employment) http://www.missouribusiness.net http://www.referenceforbusiness.com