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What is labour turnover
The percentage of staff who leave during a particular period
what is staff retention
the percentage of staff who stay in the business
Name three reasons businesses lose staff
retirement, maternity, unsuitability
Why is managing labour turnover important
To ensure business success and retain employees
Define employee retention
the ability of a business to convince employees to remain
what is the formula for labour turnover
(employees leaving / average employed) x 100
What is the formula for labour turnover
(Employees leaving / average employed) x 100
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
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
How do economic conditions affect staff turnover in a downturn?
Fewer job alternatives lead to lower turnover.
What is labour mobility?
Transferability of staff skills and availability of other jobs.
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)
Note 
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