How to Predict Employee Turnover
Published: 24 August 2022
Principle 6 is about being able to reasonably predict turnover and minimise time to hire.
Staff turnover is inevitable but what we are trying to achieve through principle 6 is to use the information we have, to predict this, and reduce both the time and cost of turnover.
When considering the monetary impacts of turnover, such as training and recruitment expenses just to name a couple, turnover can directly impact the bottom line. On the non-monetary side, unexpected turnover can cause a decrease in productivity while you’re trying to replace a new starter and this can flow through to the training phase of your new starter. Unexpected turnover can also place additional resourcing and workload pressure on the rest of your team.
By effectively implementing a lot of our previously mentioned principles, you put yourself in a good position to be able to reasonably predict turnover. Some tools mentioned in our past principles that can feed into this include:
- Having career development conversations to understand an employees future ambitions and whether they align to the organisation’s mission
- Monitoring performance and role alignment
- Measuring employee engagement and happiness and monitoring trends
Being able to foresee turnover can help you with workforce planning which in turn can help you minimise the cost and disruption.
If you’d like to know more about Employment Innovations and how we can help you improve your current HR process, please get in touch and we’ll be happy to help.
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