Hi friends, I am working in a manufacturing company, I want to know the following- 1) What is labour turnover? 2) What is the method of calculation of labour turnover? and 3) Monetary effect of it.
From India, Bangalore
turnover is attrition. pls refer to one of the prev articles in citehr for the same. well costs are definitley immense: advertise/ hrie a new recruit, train etc... surya
From India, Delhi
There are various types of turnover analysis... if you are interested i can help you with the same...
As far as your question of costs is concerned, you may consider the following:
1. Hiring costs (including direct and indirect costs)
2. Training costs (you will have to train the recruit)
3. Costs due to productivity loss (the new recruit may not be as efficient as the old hand)
4. Costs due to quality (the new recruit will make mistakes too)

You may find this attachment on labour turnover useful

Attached Files
File Type: pdf MEASUREMENT OF LABOUR TURNOVER.pdf (20.5 KB, 813 views)

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