Personnel Turnover
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In today's organizations, in which human capabilities are the key source for competitive advantage, retaining talent has become critical. Turnover, a voluntary or involuntary withdrawal from the organization, exists in all organizations. The cost of turnover in U.S. organizations is estimated in billions of dollars per year. This high cost is primarily due to the need to recruit, select, and train new organizational members as replacements for those who depart. Turnover may interrupt the efficient management of the organization when experienced and knowledgeable employees leave and take with them essential know-how that cannot be easily replaced and can be used by the organization's competitors. Despite its negative consequences, turnover has some positive aspects. It creates an opportunity to replace ineffective employees with more highly skilled ...
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