Understand the ripple effects that result from employee turnover.
As an HR professional, you understand that employee turnover is only natural. Just as new grads enter the job market, their seasoned counterparts are entering retirement. But what about the movement of employees between companies during the tenure of their employment lifecycle? Sure, some of these moves make sense due to a change in life plans, an altered career or perhaps a lack of fit. The truth of the matter, however, is that a good chunk of employee churn is unwanted. Or – as we say at Click – regrettable. And in order to appreciate that regrettable attrition, you must first understand how it’s hurting you.
While the short- and long-term costs of employee churn vary by industry, role and organization, there are a few overlapping results that affect the masses. Once you’ve uncovered the true impact, you’ll realize it’s no longer a stat to gloss over, but rather one to target head-on.