Employee Turnover is the natural process of employees leaving a company and needing to be replaced. There are multiple causes for employee turnover such as new career opportunity, relocation, education, or someone simply deciding to leave the workforce. Companies can encounter two types of employee turnover: voluntary is when employees voluntarily leave their work on their own terms, and involuntary, which can be caused by layoffs or company downsizing. Employee Turnover also refers to the amount of time employees stays with an organization.
An employee turnover rate can be calculated by dividing the number of employees who left the organization by the number of employees at the beginning of the period.
Turnover is inevitable and every company experiences it. One way to decrease employee turnover is to make sure your new hires are onboarded correctly, as a good onboarding process could extend the life of your new hire. To learn more about the Onboarding options provided by ApplicantPro, visit our Onboarding page.
Check out ApplicantPro
Take a look around at our simple yet powerful hiring software. It will help you increase your applicant pool, reduce your time-to-fill, and make you look like a rock star!Start your free trial