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Labour Turnover is the rate at which labour leaves the organisation or the rate at which new labour joins the organisation. Labour Turnover is usually expressed in terms of percentage and is an important tool under the various processes of Labour Costing.
As said earlier, Labour Turnover is studied under Costing primarily. The other deprtment where it is studied is the Human Resource Department. Labour Turnover may or may not be in the favour of the company. The organisation may itself influence the Labour Turnover as dictated by its process of Man Power Planning.
The problems associated with Labour Turnover are very predictable. These however arise only where the Labour Turnover is unfavourable to the organisation. Some problems can be:
- Increase in cost of operation.
- Decrease in productivity as the new people have to be trained.
- Delay in production.
- Change in work environment.
- Changes in Human Resource Principles, etc.
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