Evaluate the Quality of Organizational Turnover
Focus on talent retention, not staff retention.
- Most organizations track overall turnover, many track total voluntary turnover, but too few track the quality of voluntary turnover, or the types of people who leave the organization. Without this information, metrics will not be useful in understanding or addressing turnover.
- There is a common misconception that a low overall turnover rate is always a good sign. However, low turnover can indicate a problem: for example, that poor performance isn’t being addressed. Low turnover can also be an issue if a lack of fresh hires is stifling innovation.
- The bottom line is that organizations cannot know unless they delve deeper into the metrics – and few organizations go beyond the overall rate.
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Critical Insight
- Measuring quality of turnover metrics can inform in a way that simply tracking turnover cannot. These metrics can guide the HR strategy, as well as executive discussions on turnover trends and analysis.
- For turnover data to be useful, track quality of turnover rates. Tracked rates should include high performance turnover, critical roles turnover, regrettable turnover, and low performance turnover.
- Track the various turnover rates in the Quality of Turnover Scorecard to capture how the organization is progressing on turnover goals.
- Don’t end with the numbers. Get behind the data to understand what’s causing turnover through information captured by exit surveys and exit interviews.
Impact and Result
- Proper turnover tracking, analysis, and corrective action result in turnover reduction and hefty cost savings. These savings include vacancy, separation, replacement, training, and orientation costs.
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