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Subject Code : | BSBHRM513 | Country : | Australia |
Review current data on staff turnover and demographics
Studying demographics, current trends, issues and reasons of staff turnover highlights different conditions, which can be used to update the organisation's human resources policies, promote the level of job satisfaction and aid in controlling the employee turnover rate. Analysing the relevant data may also help in retaining the talented employees within the organisation and prevent them from leaving and seeking for employment in other organisations.
Staff Turnover
A simple explanation of the term turnover, with regard to workforce planning, is when employees leave an organisation and have to be replaced. Employee or staff turnover is a ratio comparison of the number of employees a company must replace in a given time period to the average number of total employees. There is a vast array of reasons for leaving an organisation. Some employees move to other organisations, pursue studies or retire. Both employers and employees play a role in the turnover rate of any organisation. Wages, company benefits, employee attendance and job performance are all factors that have significant impacts on employee turnover.
Employee or staff turnover is an inevitable occurrence in any organisation. It can be both beneficial and challenging. A very high level of staff turnover can be expensive particularly in lower paying job roles, for which the employee turnover rate is highest. On the other hand, it can help revive the organisation by bringing in new talents with fresh and innovative ideas and perspective
Types Of Turnover
There are two general types of turnover:
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