What are the various costs involved in Labour Turnover?

Following costs are involved when a worker leaves a firm:

(i) Training costs,

(ii) The wage of new workers is more than what he produces,

(iii) Scrap and waste rates are higher for new workers,

(iv) Higher accident rates for new workers,

(v) Loss of production during the gap period when an old employee leaves and a new employee joins,

(vi) Production equipment’s not fully utilised till the new worker is trained,

(vii) Overtime payments to meet delivery dates.