Is employee turnover always bad? Explore the myths and realities of how employee turnover affects your organization and how to manage turnover costs. Employers can’t control turnover, at least not 100 percent. However, employers can create a workplace culture that encourages retention of the best employees and, at the same time, lets disengaged employees move on (“good” turnover).
Ultimately, managing turnover is about creating a workplace culture that supports top performers financially, intellectually, and psychologically while at the same time providing a way to efficiently and fairly reduce the number of poor performers who compromise your organizational goals, mission, and values. Managing turnover is an ongoing process and shouldn’t be confined to quarterly or annual reviews of your organization’s metrics. Working on it continually throughout the year is the most strategic way to produce long-term business results.
Download this whitepaper to learn more about how PayScale’s business solutions can help your company manage employee turnover, retention, and accurately incentivize your workforce to meet lofty business objectives. PayScale’s people-centric compensation software and data products can also help your organization of any size build a robust holistic comp strategy. Power the possible with PayScale.