From the course: Supply Chain and Operations Management Tips

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Manage employee turnover

Manage employee turnover

From the course: Supply Chain and Operations Management Tips

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Manage employee turnover

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- When employees leave your company, it's called attrition or turnover. And while every employee will move on sooner or later, understanding the dynamics of turnover in your business can provide useful management insights. Let's look at how to calculate employee turnover and how this metric can you help you manage your operations more effectively. It's common to think about employee turnover in two main categories, voluntary and involuntary. Voluntary turnover is when people leave because they want to. It could be that they've accepted a new job, are retiring, or they're taking time off to be with their family. Involuntary turnover is when the company terminates an employee or eliminates their position. Both kinds of turnover cost money and can impact the efficiency of your operations. For example, if you're replacing an employee, you'll need to spend time and money posting the position, interviewing candidates, and training their replacement. And even if you aren't replacing them…

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