There are various causes of voluntary turnover. Voluntary TurnoverĪs the name states, this kind of job rotation occurs when an employee voluntarily leaves the company. There are two distinct types of employee turnover, voluntary rotation, and involuntary rotation. When there are vacancies that frequently need to be filled, it is said that there is a high turnover rate. HR professionals can calculate employee turnover by department, by position, or by any category of their choosing. However, the turnover rate should not be confused with the attrition rate, which reflects unreplaced employee departure. They might include resignation, termination, health reasons, or retirement. Generally, the turnover rate is calculated with workforce data over the course of a year.Īs many HR professionals know, the reasons for employee departure are countless. It is one of the most important HR KPIs, as it reflects the overall health and stability of your company. The turnover rate reflects the number of employees hired to replace those who have left over a certain period. This article will help you to diagnose the causes of turnover and develop a working strategy for your organization.
Often, turnover is a symptom of underlying dysfunction in the company culture. Thankfully, there are strategies that HR can adopt to manage employee turnover. In April 2021, more workers left their jobs than any single month in almost a century. Over the past year, many companies have experienced a record amount of employee resignations.
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For this reason, it is important to understand how to calculate the turnover rate of your company and recognize some of the causes of high turnover. While turnover is a normal part of any organization, excessive talent loss can do serious damage.
As “a small leak will sink a great ship,” a high turnover rate can bring down a great workforce.
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