Imagine a business as a big merry-go-round. 🎠 Now, picture the employees as the passengers. Labour turnover measures how often passengers (or employees) get on and off during one full ride (or year).

✨ Quick Definition: Movement of employees in and out of a business over a period of time (mostly a year). It helps us see if a business is more like a calm boat ride or a stormy sea! 🌊

Labour Turnover (%) =
(number of staff leaving over a year ÷ average number of staff employed in a year) x 100

• The Bad News

  • High turnover usually means unhappy workers. 😟

  • It signals other employees that "Hey, something's wrong here!"

  • Constantly hiring? 💸 Expenses go up! Training isn't free, you know.

  • Newbies on the team? They might take a while to adjust, so productivity dips.

    Real-world Example: Imagine a football team where players keep changing every match. Would they play well together immediately? Probably not!

• The Not-so-bad News

  • High turnover can happen when the economy is booming and people jump for better jobs. 🚀
  • Young employees sometimes switch jobs like they switch clothes. It's not always the company's fault!

• The Good News

  • Fresh faces bring fresh ideas! 🎉

  • If a lazy worker leaves, it's like taking out the trash. The team might even throw a party!

    Real-world Example: Remember when you got that new classmate who had all these exciting stories? Fresh energy, right?