Why does employee turnover matter to a company? What are some of the reasons why employees leave and what might entice the desirable potential boomerang employee to return?

Question

What will be an ideal response?

Answer 1

Feedback: Employee turnover is expensive. Business leaders appropriate considerable resources trying to minimize employee turnover. Despite best efforts, valued employees still leave the organization. It is an inevitable part of working life. So, what can be done about it? This study in Personnel Psychology indicates that understanding the reasons why employees leave might be beneficial in luring them back. Boomerang employees are appealing because the training and socialization required for them is quite less than that of other newly hired employees. The implications of this research are that not all employee turnover is bad. In fact, if business leaders understand the motives for departure, turnover may create opportunities to bring valued employees back. This research underscores the essential need for an exit-interview process with all departing employees. Understanding why employees leave could save your organization money in the long run by broadening the pool of potential hires for future job openings. However, this is not to suggest that you should give up trying to retain valued employees from the start. Maintaining and fostering employee satisfaction remains crucial for reducing turnover caused by dissatisfaction. As a manager, take the initiative to monitor and address employee satisfaction levels so you can prevent your top talent from leaving in the first place. Understanding why employees leave is essential information for company recruiting strategies. Employees are more likely to return and be productive assets if they leave for reasons other than dissatisfaction. Because unhappy employees are more likely to leave and never return, you should monitor and address employee satisfaction levels on an ongoing basis. Rehiring former employees can save money and time. Make sure your company has exit interviews and alumni programs that track potential boomerang employees.