Staff or staff turnover refers to the number of employees who leave a given organization and are substituted with new ones.
Back when I worked at Groupon Dubai, we would lose at least one person a week. It was terrible knowing that you might be let go or even worse, forced to resign so simply!
Management must have felt it established an attitude of hard effort in the workforce but was this high employee turnover rather useful or damaging to the general team morale? Continue reading to explore some of the implications of high and low employee turnover.
Fear Versus Security
Having a high staff turnover in a firm instills anxiety in the workers that work there and decreases their general morale. They know that it’s easy for the organization to replace them if need be.
On the other side, low staff turnover shows that the firm loves its employees and appreciates their work, which in turn makes workers more secure about their employment and more productive.
High Cost Of High Turnover
High personnel turnover equals greater costs for a firm. As my employer once explained to me, a firm spends a lot of money hiring and training new workers. Companies with minimal staff turnover spend more time interviewing potential workers to make sure they’re absolutely suited for the roles they are interviewing for before making a final selection.
Achieving A Low Turnover
So how can a corporation achieve and sustain a low personnel turnover? Studies demonstrate that good compensation and greater communication between management and its employees considerably minimizes employee turnover by enabling people to work for longer periods of time at a firm. Finally, being able to advance and get promoted in a firm also minimizes employee turnover.
To put it in a nutshell, it makes sense for organizations to have a low staff turnover for various reasons, including cheaper expenses, improved employee morale, and increased productivity.
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