Hello l would value thoughts and published research on conceptual differences between employee turnover and employee retention. Specifically, by addressing an organisations turnover does not correlate to high employee retention, thanks.
Hi Britt,
I guess it depends on how you define the terms (as always). Retention is about holding onto the people you have but how do you calculate it? If you have 100 employees and laid off 9 of them and 1 quit, was your retention rate 99% or was it 90%? Now, what if you hired 10 at the start of the year and those who left, left at the end of the year (so you went from 100 to 110 to 100)? How does that change your math? Reasonable people can disagree on this.
Turnover is normally broken down into voluntary and non-voluntary, and those were the 1 and 9 I listed above, respectively. What about if an employee dies? What if someone reached the company-specified retirement age? What if someone was transferred to another unit or another child firm within the same umbrella company? All of these need to be defined before you can nail down the math and until you can nail down the math, you have a blurry definition of the concept (in this case).
Addressing employee turnover does not, necessarily, mean the organization has high retention because that would depend on how effective the issue was addressed (for example, poor execution).
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