Employee turnover is a huge concern in certain industries and is one of the main reasons for sleepless nights among managers. Turnover is simply the superficial problem; the crux of the problem is much deeper. What really needs to be studied and analyzed is the reason behind the high turnover rate of an organization. There can be various reasons that may induce employees to switch jobs: lucrative offers by other companies, long working hours, stress at work, inadequate training and development, fewer growth opportunities, etc.
Understanding Employee Turnover
A high turnover rate obviously has serious side effects such as increased expenditures and efforts in hiring and training as well as a greater risk of information leakage.
As we have already discussed, there can be several reasons for a high turnover rate; the most alarming ones are what are commonly called “dysfunctional turnovers.” These refer to cases wherein talented and hardworking employees decide to leave the organization.
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