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One major factor that could have a negative influence on the successful outcome of a project is employee turnover, which represents the risk of key personnel leaving the project.
Companies make large investments for their employees’ training, development and exert a great desire to retain top-performing employees.
There are two main factors which determine nowadays recruitment to become mass recruitment, no matter the area or the specialization. On the one hand, there is the globalization factor, which forces corporations into a process of fast development and growth from all points of view, including the number of employees operating within them.
Better is the adjective by which most of us lead our lives: better homes, better cars, better lifestyle and, more than often, better jobs. Such is the case that, while employees continuously aim to improve their careers, sometimes by changing jobs, companies strive to come up with solutions to reduce voluntary turnover. Employee retention rate has been and remains one of the most intense battles fought by executives and HR departments.
Employee turnover represents a process that consists in the actions taken to replace one employee with another, no matter the reason for which this change is necessary. Related to this specific process, it is essential that the employee turnover rate is viewed as a key performance indicator, as it reveals the percentage of employees that an organization had to replace within a given time frame.
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