Employee Turnover Rate is a key HR metric that measures the percentage of employees leaving an organization over a specific period. It directly impacts business stability, workforce productivity, and recruitment costs, making it crucial for industries like manufacturing, retail, logistics, and facility management. A high turnover rate can indicate job dissatisfaction, poor work conditions, or lack of career growth, while a low turnover rate reflects employee retention and workplace satisfaction.

For businesses managing contract workers, gig employees, and blue-collar workforce, tracking and analyzing turnover rate helps in identifying workforce challenges, improving engagement, and reducing hiring expenses. Companies leverage HR analytics, exit interviews, and workforce management tools to monitor attrition trends, implement retention strategies, and optimize hiring processes. By offering competitive compensation, career development opportunities, and a supportive work culture, organizations can effectively lower turnover rates and enhance workforce stability.