Review on Employee Turnover
Employee Turnover If you lose something valuable that belongs to you, it results in a total loss. Similarly, losing a valuable employee whether in a product oriented or service oriented organization can be a significant loss to the company. It is essential to gain a comprehensive understanding of employee turnover, including its causes, consequences, and strategies managers can use to reduce it. Managers must recognize employees as key contributors to the organization's success. Employee turnover falls into two main categories as voluntary and involuntary . Voluntary turnover occurs when an employee chooses to leave, while involuntary turnover refers to cases where an employee is terminated. Voluntary turnover occurs when an employee leaves for reasons such as finding a new job opportunity, experiencing health issues, choosing to care for family, migrating to another country, or starting their own business. Involuntary turnover includes employee terminations due to specif...