Turnover is one of the HR metrics that we have been measuring forever...and ever. The problem is that turnover all by itself really doesn't mean anything. What does your leadership team do with, "Our quarterly turnover rate is 28.6%?"
The questions then become:
- What caused the turnover?
- How do we stop the turnover?
- How much is the turnover costing us?
- How much will fixing turnover cost us?
- Was the turnover good or bad for the company?
- Are we at risk for losing our high performers or our high potentials?
- Which managers have the most/least turnover and why?
- Is there differences in turnover among generations? If so, why?
- Is there differences in turnover among managers? If so, why?
- Is there differences in turnover among departments? If so, why?
- The local economy
- The traits of the job
- How often employees have been promoted
- Pay increase frequency