The Advantages of Worker’s Turnover
Though it may seem contrary to intuition, employee turnover can often be beneficial for businesses that operate with a large workforce. Businesses commonly recognize employee turnover as a problem to be remedied - often by any means necessary - to ensure high levels of efficiency and company morale. But when viewed in a different light, employee turnover can be an advantageous factor in the growth of a business.
One advantage of employee turnover is the natural influx of creative ideas and fresh perspectives that new employees bring with them. When businesses are composed of the same employees year after year, the workplace might become stagnant; introducing new ideas can be a breath of fresh air and a great opportunity to further grow the business. Additionally, periodic new hiring can help ensure businesses remain at the top of their game right alongside the ever-evolving technological advancements of the modern workplace.
Another key advantage of employee turnover is an increase in operational savings. By employing a smaller population of internal staff, businesses can reduce overhead costs like salaries, bonuses, so-called ‘exit packages’ and more. An ideal workplace is comprised of the maximum number of quality workers required to effectively achieve efficiency - any additional employees becomes an added expense that is not always necessary for quality results.
Finally, employee turnover can lead to increased productivity, which is arguably the most desirable advantage for all businesses. By replacing long time employees with motivated new recruits, businesses gain a significantly higher return on their financially invested labor, allowing them to focus on areas of innovation or efficiency, rather than employee motivation. Additionally, all employees learn and grow in different ways; it is possible that a new hire could better improve their skills, offering greater value to their respective department than a less qualified, yet longer tenured employee.
In summary, having a high rate of employee turnover can be an advantage rather than a disadvantage. Workplaces are more creative when different ideas are encouraged and potentially retained, costs are reduced through the elimination of redundant positions, and productivity increases when quality personnel are hired. All of this together makes for a successful business.
