WMBA6401 Week 4 Discussion Latest 2022 November
WMBA6401 / WMBA 6401 / MHRM6401 / MHRM 6401 / MGMT6401 / MGMT 6401
WMBA6401 Human Resource Analytics
Week 4 Discussion
Understanding Turnover Metrics
Turnover impacts every other metric including recruiting, operating cost, and organizational effectiveness which make it a good metric to examine more closely. It is fairly easy to compute (although there are a few variations of the formula). The results can affect the company’s focus and changes can save the company from the high costs that come with employee replacement. It should be noted that not all turnover is bad turnover. Some employees leave voluntarily for reasons that have nothing to do with the company. Some employees may be terminated or leave because they are discouraged with a job that is not a good fit. In those cases the company’s turnover is not a reflection of an unhealthy organization, but rather a reflection of other circumstances. It is important to look at all available turnover data to determine what is causing the turnover and how the organization should respond moving forward.
Post by Day 3 a cohesive and scholarly response, based on and supported by your required readings, media, and research this week, that addresses the following:
Explain why companies need turnover statistics.
Identify specific metrics companies should use when evaluating their employee turnover and retention rates.
Identify the areas outside of HR where turnover can have a negative impact.
Explain how turnover and retention metrics can be used as a strategic planning tool.
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