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Employee turnover can bring a mixed bag of positive and negative impacts. Although some turnover brings interruption to ongoing projects and costly recruiting, sometimes it’s beneficial for revitalizing or fine-tuning your workforce. In either case, it’s critical that you prepare for turnover so you can be proactive in taking the steps needed to retain your top talent.
Workforce turnover presents a dilemma to all companies around the world. Some estimate that the cost of losing and replacing a single employee can equal more than twice that employee's salary, with costs increasing further based on the departing employee’s seniority. Be proactive with your talent retention and workforce planning efforts and explore information regarding voluntary and involuntary turnover across six career levels for over 100 markets.
Published: November 2018
Next Release: November 2019
File format(s): Online, PDF, Excel
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Did you know that the average involuntary turnover rate in Sri Lanka is by far the lowest in the Asia Pacific region?
* Online includes access for up to 5 users; additional users may be added for a fee. Includes Excel download files; does not include PDF. Two updates per year, including early access for select markets in April and a full update in November.
** Must purchase Global PDF.
Single market (country) reports are available upon request; please contact your local Client Services team to place an order.
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Middle East and Africa
HR and other leaders routinely seek to benchmark turnover costs, often using standard “rule-of-thumb” estimates. However, such estimates can be misleading because of the way they are calculated. This article looks at the costs and potential benefits of turnover, uses case studies to demonstrate variation in impact, and discusses how employers can more effectively assess the impact of turnover in their own workforces.
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