Labour turnover

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12 Terms

1

What is labour turnover

The percentage of staff who leave during a particular period

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2

what is staff retention

the percentage of staff who stay in the business

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3

Name three reasons businesses lose staff

retirement, maternity, unsuitability

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4

Why is managing labour turnover important

To ensure business success and retain employees

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5

Define employee retention

the ability of a business to convince employees to remain

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6

what is the formula for labour turnover

(employees leaving / average employed) x 100

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7

What is the formula for labour turnover

(Employees leaving / average employed) x 100

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8

What are the negatives of high staff turnover

  • Higher recruitment and training costs

  • Increased pressure on remaining staff

  • Disruption to productivity

  • Harder to maintain quality and service standards

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9

Name factors that affect staff turnover

  • Type of business (e.g., seasonal or temporary staff)

  • Pay and rewards

  • Working conditions

  • Promotion opportunities

  • Competitor actions

  • Quality of communication

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10

How do economic conditions affect staff turnover in a downturn?

Fewer job alternatives lead to lower turnover.

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11

What is labour mobility?

Transferability of staff skills and availability of other jobs.

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12

How can businesses improve staff turnover?

  • Effective recruitment and training

  • Provide competitive pay and incentives

  • Job enrichment

  • Reward staff loyalty (e.g., service awards, extra holidays)

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