GENERAL KNOWLEDGE

Detailed explanation-1: -Labour turnover refers to the net departure of employees over a defined period of time. It can be divided into voluntary vs. involuntary and avoidable vs. unavoidable labour turnover.

Detailed explanation-2: -Labor turnover, also known as staffing turnover, refers to the ratio of a number of employees who leave a company through attrition, dismissal or resignation to the total number of employees on the payroll in that period. It’s used for measuring employee retention.

Detailed explanation-3: -Regardless of business type there are two main types of employee turnover: voluntary and involuntary. Within each of those categories, however, you’ll find various reasons for why a company might have employee turnover. While the term “turnover” sometimes has a negative connotation, not all turnover is bad.

Detailed explanation-4: -The four main causes of turnover are lack of growth and progression, inefficient management, inadequate compensation, and poor workplace culture. These reasons for staff leaving are present at many organizations around the world.

Detailed explanation-5: -Attrition is the departure of employees from the organization for any reason (voluntary or involuntary), including resignation, termination, death or retirement.