Retention Rate And Laber Turnover

Question 1

Formula for labour turnover

Answer 1

Number of employees leaving during period/ average number employed during period x 100

Question 2

Problems with high staff turnover

Answer 2

.Higher costs - more recruitment and training costs
.increased pressure on remaining staff
. Disruption to production

Question 3

Factors that affect staff turnover

Answer 3

Type of business- some have seasonal staff turnover
Pay and rewards
Working conditions
Opportunities for promotion
Competitor actions

Question 4

Ways to improve staff turnover

Answer 4

Effective recruitment and training
Provide competitive pay
Job enrichment
Reward staff loyalty eg extra holiday