{"id":3902,"date":"2020-02-12T19:39:32","date_gmt":"2020-02-12T19:39:32","guid":{"rendered":"http:\/\/www.big5assessments.com\/blog\/?p=3902"},"modified":"2022-04-25T11:29:31","modified_gmt":"2022-04-25T10:29:31","slug":"what-is-employee-turnover","status":"publish","type":"post","link":"https:\/\/www.big5assessments.com\/blog\/employee-turnover\/what-is-employee-turnover\/","title":{"rendered":"What is Employee Turnover?"},"content":{"rendered":"\n<p>\u2018Employee turnover\u2019 and \u2018retention\u2019 are phrases you will\nhear a lot in the world of employment. But what do they actually mean? This\nblog post will help you to understand what employee turnover is and how it can\nimpact your company. <\/p>\n\n\n\n<p><strong>Definition<\/strong><\/p>\n\n\n\n<p>Employee turnover refers to the number or percentage of\nemployees who leave a company within a given time period (usually a year). This\ninformation can be broken down further in order to provide a more detailed\ninsight into potential improvements a company might choose to make. If a large\nnumber of staff are choosing to leave a company, then more research needs to be\ncompleted in order to ascertain why and rectify any issues that are causing the\nturnover. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.big5assessments.com\/blog\/wp-content\/uploads\/2020\/02\/Screen-Shot-2020-02-12-at-18.46.29.png\" alt=\"\" class=\"wp-image-3913\" width=\"267\" height=\"268\" srcset=\"https:\/\/www.big5assessments.com\/blog\/wp-content\/uploads\/2020\/02\/Screen-Shot-2020-02-12-at-18.46.29.png 406w, https:\/\/www.big5assessments.com\/blog\/wp-content\/uploads\/2020\/02\/Screen-Shot-2020-02-12-at-18.46.29-150x150.png 150w, https:\/\/www.big5assessments.com\/blog\/wp-content\/uploads\/2020\/02\/Screen-Shot-2020-02-12-at-18.46.29-300x300.png 300w\" sizes=\"(max-width: 267px) 100vw, 267px\" \/><\/figure><\/div>\n\n\n\n<p><strong>Why Is Employee Turnover Important?<\/strong><\/p>\n\n\n\n<p>It is important to take employee turnover into account when\nrunning a company for many different reasons. Firstly, hiring staff costs\nmoney. That is pretty simple; the recruitment process can be quite costly for\ncompanies and if they are not retaining the staff they have hired, then the\nmoney spent on recruitment has been essentially wasted. 80% of employee\nturnover is as a result of bad hiring decisions. <\/p>\n\n\n\n<p>It is costly to replace staff who choose to leave a company.\nWith senior level staff it can cost approximately 150% of their annual salary.\nClearly, this money could be put to better use if employee turnover is\ndecreased. <\/p>\n\n\n\n<p><strong>Summary<\/strong><\/p>\n\n\n\n<p>Overall, high employee turnover can be detrimental to a\ncompany and therefore having an understanding of what employee turnover means\ncan benefit the running of a company. Employee turnover should be taken into\naccount when running a company in order to be cost-effective and ensure that\nthe staff hired are correct for the position. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2018Employee turnover\u2019 and \u2018retention\u2019 are phrases you will hear a lot in the world of employment. But what do they actually mean? This blog post will help you to understand what employee turnover is and how it can impact your company. Definition Employee turnover refers to the number or percentage of employees who leave a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[33],"class_list":["post-3902","post","type-post","status-publish","format-standard","hentry","category-employee-turnover","tag-employee-turnover"],"_links":{"self":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts\/3902"}],"collection":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/comments?post=3902"}],"version-history":[{"count":2,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts\/3902\/revisions"}],"predecessor-version":[{"id":3914,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts\/3902\/revisions\/3914"}],"wp:attachment":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/media?parent=3902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/categories?post=3902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/tags?post=3902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}