THE ALCHEMIST ABOUT TOWN

People stuff

What is an appropriate benchmark for employee turnover?  

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It is common practice to benchmark businesses against other businesses in the same sector, with further comparison on company size and location.
Employee turnover, or attrition, rates are a metric that almost any company can get its hands on.
Focusing on some magic number, we think that we can understand what is going on under the surface, even though every organisation is different. And that is the issue.

The reasons for high or low turnover can be varied and contradictory so, for me, a good employer benchmarks firstly with itself. Staff may not leave because there is a very happy working place or maybe because they are complacent,overpaid and unemployable anywhere else.
Or they might leave for reasons totally unrelated to your company.

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You should know the state of play much better than a spreadsheet and should know instinctively whether your turnover percentage is manifestation of a good work environment or of a underlying issue.

If your people practices are in order, you will find the level of attrition that is right for your company and the people who leave will be the ones you are comfortable to replace.