A Comparative Study on-Employee Turnover and its Impact on Organization:With Special Reference to Tata Steel and Hindalco

Employees are important assets in any running of a business; without them the business would be unsuccessful. Employee turnover is the process of replacing one worker with another for any reason. A turnover rate is the percentage of employees that a company must replace within a given time period. This rate is a concern to most companies because employee turnover can be a costly expense, especially for lower-paying jobs, which typically have the highest turnover rates. Having an employee leave a company, either because of his or her choice or after being fired or otherwise let go, might require various administrative tasks to be performed and severance pay or other payments made to the employee. Replacing the employee might require such things as advertising the open position, using a so-called head hunter or other service to find potential job candidates, bringing in candidates for interviews and eventually training the new employee.