They say that change is good—however this isn’t always the case for organizations. For organizations, change could mean losing a valuable worker and having to spend a hefty amount of time and money to find another. There are two main types of employee turnover: voluntary and involuntary. The former refers to a worker that chooses to leave upon their own decision, while the latter refers to situations where a worker is removed from the position based on a factor outside of their control—this includes sickness or death, as well as layoffs and firings.
Involuntary employee turnover is a topic of itself, but our focus here is voluntary employee turnover. What causes it, how can it be prevented, and how does it affect your organization?
There are 4 main reasons why employees are subject to voluntary employee turnover:
- They find higher pay elsewhere
- They’re not engaged
- They’re bored
- They’re poorly managed
By understanding what causes employees to leave, you can do something to keep it from happening as often.
It is common knowledge that employee turnover comes at a high price. It is important to know how it will directly affect your company in particular, both financially and morale-wise. Turnover can easily diminish morale and productivity because others have to pick up the slack of the missing employee. This will only lead to more employees that are lacking in engagement or looking for a better situation elsewhere.
From a financial standpoint, an ideal way to keep tabs on how turnover affects your organization’s monetary status is by using Talexes’ employee turnover calculator.
Employee turnover is a costly, time consuming ordeal. Knowing why it is such a common occurrence, as well as how it affects your organization financially, can help you keep it from becoming a serious organizational issue.
Employees are also less likely to leave their job if they’ve found the right job fit. Make that happen with a Talexes employee assessment today!
