What's employee turnover? Give an example or two. How could a company prevent that?

I'm taking a business class and i don't quite understand the term. Thanks for the information.

Employee Turnover = Means that you hire people, and then they quit working for some reason such as the work environment, pay, benefits, work conditions, management issues.

Turnover hurts the bottom line of a business.

Why? Because you have to go through the process of recruting and the employment hiring cycle again. You need to train the team member, then get them on board with the new company so they can be productive in their functional area.

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How can a company PREVENT turnover?

It's simple:

"Team Member Engagement"

This means treating your employees as a "Competitive Advantage" communicating with them about the benefits of being their team member. By engaging the employee the team member becomes MORE productive and loyal to the employer. Thus reducing TURNOVER and the need to recruit, and train new employees (Team Members) over and over again....

When you have ENGAGED team members you have ENGAGED customers.

Create ways to REWARD and RECOGNIZE team member achievements and performance to let them know you notice and care about them.

This equates to increased Sales, Profits, Revenue and a better customer experience and customer and team member loyalty.

It's a WIN-WIN scenario for everyone.

Here is a good book to read on this topic:

"GOOD TO GREAT!"

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Hope this helps you! Have a great weeka ahead! :-) Source(s): Ways to ENGAGE TEAM MEMBERS and REDUCE TURNOVER in the workplace...

It's simple, employee turnover is a term used to call employees who have been hired ,worked for awhile, then left the job. then more are hired and so on.
Employee turnover is how often employees leave the job and have to be replaced.

Restaurants seem to have a high turnover in this area.

Companies can try to lesson this by providing clear job descriptions, doing a better job in the selection process, have sufficient and clear training for the new employees, create a good working environment with decent pay and benefits.

There are times though, that a company has done all those things and there is still high turnover. That could be because of the type of work or the type of person that particular job attracts.
employee turnover is how many times you have to fill a position every year. it costs the company money because they have to train every new person.
A company could prevent it with better pay, advancement, benefits, offer something to keep people and prevent them from looking.
Ever notice how when you go to McDonald's and you keep seeing new faces there? That's Employee Turnover. Some quit. they need to be replaced so the company hires new people. To stop it all a company needs to do is treat their employees better. Better benefits. More pay. That kind of thing.
Employee turnover is when employees leave the company on their own.

This mainly can be prevented by paying employees better salaries and offering better benefits.

I used to work at a meat packing plant (as an engineer). They would hire hourly employees daily. The production work was hard, and the pay was minimum wage. Some employees would go on break and never come back.