Employee turnover refers to the number or percentage of workers who leave an organization and are replaced by new employees.
Employee turnover is an important way to measure both the effectiveness of the human resources management system and the overall management of an organization or program.
High employee turnover increases the expenses and also has a negative impact on the organization’s morale.
Implementation of an employee retention program is important.
Formula to calculate employee turnover.
In a certain month, a company has an average of 250 employees but 15 employees decided to leave. Calculate the employee turnover of the company.
Therefore, the employee turnover of the company is 6%.