Staff or employee turnover is when workers leave an organisation and are replaced by new recruits. When staff leave, this turnover can have a negative impact on your business. This is especially the case if those leaving either are key to its success and continuity or do so because they think you have treated them unfairly, which could result in tribunal claims.
Therefore, retaining staff and treating them fairly has benefits for your business. Continuity and stability become part of your business' culture, and staff feel they belong to the organisation and take pride in their work. Skills and competencies are maintained in key business areas and productivity is often increased.
Staff turnover is a business risk, but you can minimise the ways in which it affects your business through a structured staff management programme.
This guide will help you manage staff turnover by providing examples of what makes an employee leave a business and a checklist of measures to help with staff retention. There is also guidance on how to measure and benchmark turnover and how to improve the management of leavers.