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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What is Employee Turnover?
What is Employee Turnover?  

What is Employee Turnover?



 
 

Employee Turnover (aka "staff turnover", "personnel turnover", "labor turnover") is a ratio comparison between the number of workers an organization must replace in a certain period of time and the average number of total workers available on the last day of the previous reporting period. Employee turnover occurs when workers decide on leaving their places of employment voluntarily. Such workers should be replaced; otherwise, the organization gets lack of workforce. Note that employee turnover does not reflect any redundancies; only natural turnover (such as termination, resignations, retirement etc.) is included.

There can be some essential reasons for a worker to decide on job leaving. These reasons are:

  • The worker has no required skills and knowledge to adequately do the job
  • Insufficient salary rate
  • Inappropriate organizational/corporate culture
  • Workload or hard working conditions causing employee burnout
  • Personality and relationships with colleagues and senior management

If one or several of the reasons occurs, there’s a high probability that the worker will decide on leaving current job place and start looking for the environment that will satisfy the worker’s needs. All the reasons for employee turnover are explained by Maslow's hierarchy of needs. This hierarchy reflects the structure of human needs. In case at least one of the needs is not fulfilled, an employee is likely to search for a better place of employment.

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