What are the costs and benefits of voluntary turnover? Which of these are most likely to vary according to type of job? Give examples for staffing organizations.
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Turnover: Costs and Benefits
The cost of compensation is likely to vary as per the type of job of an individual. If the job is of strategic importance to the organization, the remuneration will be high; on the other hand, if the job is of a lower level and of less importance for the organization, the compensation paid will be relatively less. Another cost that will vary as per the type of job is the cost of losing an effective employee because if the job is a technical one and requires a specific set of skills and technical expertise, the cost will be high and vice versa. This is known as the separation cost.
Besides, the training and replacement cost will also be borne by the ...
The solution addresses employee turnover, training and compensation costs in a discussion about the advantages and disadvantages of voluntary turnover. This solution is 468 Words with two APA references.