Why is turnover of such great concern to organizations

Turnover, also referred to as employees’ turnover or labor turnover, is the rate at which an organization gains and loses workers. In other words, it is a measure of how long workers tend to stay in an organization. The rate for individual firms is measured and then compared with competitors in order to draw informed … a firm has a high rate of labor turnover, then it means that the organization has a short average tenure. That means that employees quit jobs at an extremely alarming rate. However, when the rate is low the implication is that workers take long before quitting jobs, a phenomenon that is highly desirable. Turnover is of concern to an organization because it affects the firm in several ways ranging from cost of production to quality of products. As such, the…

            To start with, cost of production need to be regulated for a firm to maximize profit. However, the cost of production may continue escalating on dairy basis if there is no checking of labor turnover. With high staff turnover, both real and opportunity costs are bound to keep rising constantly. Real costs refer to a hefty amount of time and money spent …. in recruitment and training. On the other hand, opportunity costs are the cost incurred by the firm when it is losing productivity. When labor turnover is high, the firm incurs these costs because it has to keep on recruiting and training new workers. In addition, high labor turnover will imply that, at times, the firm may lack sufficient staffs to maintain its normal production level. The cost of maintaining low productivity is incurred in the form of lost customers due to lack of enough products to supply. Both costs…

            Labor turnover has an impact on the quality of products produced. It must be noted that employees have a direct connection with quality level of products in a firm. This is because as employees stay for a considerable amount of time they gain experience which helps them to produce high quality products. Therefore, when rate of staff turnover is high employees do not have time to gain expertise in production hence compromising quality. Production of low quality products reduces the competitive advantage of a firm. As such firms must consider turnover as one of …

             Turnover in an organization should be regulated by all means. Therefore, a firm cannot afford to ignore the need to keep this factor in check.  Factors such as unreasonable supervision and poor working conditions need to be considered so as to control high…

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