However, it is also used to describe another area that is also equally important – staff turnover. The term turnover is likely already familiar to businesses across the UK referring to the amount of money they have taken in a particular business, not the net profit. This is where the term employee turnover comes in, but what exactly is employee turnover? We’ll look at what this term means and how it affects employees and business owners alike.
If you have a lot of employees leaving and new ones coming in, this can damage morale and your profits. However, you need to ensure you keep talented staff for long periods of time. To do this, employers often think investing in the recruitment stage is the most vital.
What can you do to reduce staff turnover?Įnsuring your business has the best talent available is important for long-term success.Consequences of a high employee turnover rate.
