Imagine a business as a big merry-go-round. ๐ 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).
โจ 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! ๐
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. ๐
It signals other employees that "Hey, something's wrong here!"
Constantly hiring? ๐ธ 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
The Good News
Fresh faces bring fresh ideas! ๐
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?
Dive deeper and gain exclusive access to premium files of Business Management SL. Subscribe now and get closer to that 45 ๐
Imagine a business as a big merry-go-round. ๐ 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).
โจ 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! ๐
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. ๐
It signals other employees that "Hey, something's wrong here!"
Constantly hiring? ๐ธ 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
The Good News
Fresh faces bring fresh ideas! ๐
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?
Dive deeper and gain exclusive access to premium files of Business Management SL. Subscribe now and get closer to that 45 ๐