11.In addition to internal promotions and transfers, turnover can be classified in twelve primary ways.
12.Functional turnover is the departure of good performers.
13.Optimal turnover is the turnover level producing the highest long-term levels of productivity and business improvement.
14.Most turnover occurs during the first few months on the job.
15.Misconceptions about voluntary turnover can lead managers and organizations to utilize ineffective retention strategies or strategies that retain the wrong employees while chasing out the best talent.
16.Downsizing, layoffs, and terminations are the most common reasons for involuntary employee separations.
17.Employees who survive initial workforce reductions often perceive high job security.
18.A separation agreement is a legal agreement between an employer and employee that specifies the terms of any employment termination.
19.In most states, if an employment relationship is not covered by a formal contract, then it is governed by employment at will.
20.Reducing voluntary turnover among the best employees improves organizational effectiveness and efficiency.
21.Voluntary turnover is difficult to reduce unless we know what is causing it.
22.Retaining or losing an organization’s best employees can influence its strategic ability to maintain a competitive advantage.
23.Giving potential employees realistic job previews that communicate potentially undesirable as well as positive aspects of the job and organization during the recruiting process reflects honesty and fairness.
24.Succession management helps an organization best deploy talent to meet its business goals.
25.Replacement planning is identifying specific back-up candidates for specific senior management positions.