LABOUR TURNOVER- part I Meaning MONIKA KANSAL, Kamla lohtia S.D.College, Ludhiana,Punjab

Second Major Element of Cost Most difficult to control (Not being inanimate like material) Most perishable Once lost cannot be recouped, so leads to increase in labour cost Importance of Labour

Second Major Element

of Cost

Most difficult to

control (Not being

inanimate like

material)

Most perishable

Once lost cannot be recouped,

so leads to increase in labour cost

Definition of Labour / Employee turnover Number of employees leaving over a period of time as a percentage of average number of employees employed during that period of time .

Number of employees leaving over a period of time as a percentage of average number of employees employed during that period of time .

What is attrition rate The action or process of gradually wearing down through sustained attack or pressure. (Concise Oxford Dictionary) The reduction in numbers usually as result of resignation , Retirement or death.

Why labour turnover Personal reasons (family responsibilities ,old age, accidents, Death, dislike for the job, moving to better place, roving nature )

Personal reasons (family responsibilities ,old age, accidents, Death, dislike for the job, moving to better place, roving nature )

Disliking for the job

For avoidable and unavoidable causes See labour turnover Part II on the same site http://www.slideshare.net/monikakansal/labour-turnover-remedies