The analysis of the labour situation in a restricted labour market

Research into labour turnover can be traced back to the early nineteen-hundreds. Most of this early work was carried out in the United States of America. There have been many definitions of labour turnover rate but the one we shall use is: (Number of leavers in period under review / Average number of persons employed during the same period) × 100/1. The low level of unemployment in recent years has brought with it a high rate of labour turnover. This in turn has brought increased costs of production. These costs are wholly concealed in the accounts of the company.