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Questions and Answers
Employee turnover can be categorized into ______ (workers leaving on their own) and involuntary (layoffs or terminations).
voluntary
To calculate employee turnover rate, divide the number of employees who left by the average total employees, then multiply by 100. The average turnover rate in the US in August 2022 was 3.9%, with a total annual ______ turnover rate of 32.7% in 2021.
voluntary
Factors contributing to turnover include pay, benefits, lack of career advancement, burnout, poor ______, and feeling unappreciated.
onboarding
Offering competitive compensation, benefits like HRAs, and employee ______ can help lower turnover rates and retain employees.
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Employee turnover can be categorized into voluntary (workers leaving on their own) and ______ (layoffs or terminations).
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Study Notes
- Employee turnover can be categorized into voluntary (workers leaving on their own) and involuntary (layoffs or terminations).
- To calculate employee turnover rate, divide the number of employees who left by the average total employees, then multiply by 100.
- The average turnover rate in the US in August 2022 was 3.9%, with a total annual voluntary turnover rate of 32.7% in 2021.
- Factors contributing to turnover include pay, benefits, lack of career advancement, burnout, poor onboarding, and feeling unappreciated.
- Offering competitive compensation, benefits like HRAs, and employee stipends can help lower turnover rates and retain employees.
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Description
Learn about the different types of employee turnover, how to calculate the turnover rate, and factors that contribute to employees leaving a company. Discover strategies such as competitive compensation, benefits, and employee stipends to reduce turnover rates and improve retention.
