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Difference Between Turnover And Retention
This summary was generated by AI from multiple online sources. Find the source links used for this summary under "Based on sources".
Learn more about Bing search results hereOrganizing and summarizing search results for youTurnover and retention are almost opposite terms. The difference between the two can be grouped by the following categories:- Purpose: Turnover measures workforce movement, while retention estimates workforce stability.
- Time frame: Turnover is usually measured per year, while retention is measured over a longer period of time.
- Calculation: Turnover includes new hires, while retention does not.
It is important to note that employee retention refers to keeping existing employees while turnover focuses on replacing departing ones. Another difference between retention and turnover is money. Replacing a worker who quits costs you an extra $15,000 compared to retaining the original employee on staff.
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Mar 3, 2024 · Retention and turnover are important HR metrics. Retention refers to the ability of a company to retain its employees, while turnover measures the rate at which employees leave.
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