Turnover is the voluntary and involuntary permanent withdrawal from an organization.
A high turnover rate results in increased recruiting, selection, and training costs.
Costs estimated at about $15,000 per employee.
All organizations have some turnover and the “right” people leaving—the marginal employees—positive creating opportunity for promotions, and adding new/fresh ideas.
But turnover often involves the loss of people the organization doesn’t want to lose.