Do you have a healthy employee turnover rate?
Employee Turnover is the percentage of employees who leave an organization during a specific period, usually including dismissals, voluntary resignations, and retirements.
You can reach some conclusions once you compare your rate with your industry or location average. If, for example, your turnover rate is higher than your industry average, it probably means your management practices are not as effective as they could be. You’ll probably want to identify and address some internal issues.
Although managers and employers dread turnover, a turnover rate of zero is unrealistic. People will inevitably leave at some point to retire, relocate, or because of changing circumstances in their lives. As strange as it may sound, you can have a ‘healthy’ turnover rate. Keep an eye on your rates, ensuring they stay within healthy industry and location ranges.
Employee turnover rates can uncover hidden problems within organizations. A high turnover rate is a warning sign you shouldn’t ignore.
You want to uncover hidden problems within an organization and proactively act to retain good people.