Employee turnover, refers to the number or percentage of workers who leave your business or organisation and are replaced by new employees.
Some staff turnover is inevitable however high rates of staff turnover can be costly and have huge impacts on your business.
Measuring employee turnover can be helpful to employers that want to understand the reasons for turnover, factor in the cost to hire when forecasting and budgeting, and implement strategies to reduce staff turnover rates.
Whether you’re looking for ways to reduce turnover, or recognise existing talent within your organisation and want to ensure you can retain valued employees, we can help.
We will work with you to identify the key individuals of whom retention is vital to the business. It is important to acknowledge and ensure adequate reward is made to those who are most instrumental in the success of the business. This is not always most effective through additional financial reward and Cornerstone can help you identify and implement alternative methods of reward to help reduce your staff turnover rates.