The Benefit of (Some) Turnover
Employers, given their preference, would love to keep most employees around indefinitely-to have their top performers spend their entire careers with the company. Not only would that tenure demonstrate dedication...
Employers, given their preference, would love to keep most employees around indefinitely—to have their top performers spend their entire careers with the company. Not only would that tenure demonstrate dedication and commitment to the company, but it would also reduce the time, effort, and cost of recruiting and onboarding new staff and help retain institutional knowledge.
Very few companies would say they crave a high turnover rate for their employees. But some turnover isn’t necessarily a bad thing. In fact, some argue it can be beneficial to have a certain amount of employee churn.
The Positives of Churn
“New research shows that bringing fresh faces into an organization—or even colleagues you don’t usually work with—is a boon for creativity,” writes Bryan Lufkin in an article for BBC Worklife.
“Shaking up your team just the right amount can transform an echo chamber that limits your potential into a force for innovation that takes your work to new heights—or, for Doctor Who fans, even a new dimension of space and time,” Lufkin adds.
Lufkin points out several potential benefits for bringing in new staff, including fresh, new perspectives and new insights. Companies, like individuals, can get set in their ways if they go too long without exposure to new ideas and methods.
Another benefit to bringing on new team members is broader industry experience. Of course, companies shouldn’t seek to hire staff from competitors in order to steal trade secrets or get the inside scoop, but having staff that are familiar with an industry from a perspective that goes beyond the inner workings of a single organization can be a huge benefit to any organization.
Finding the Right Balance
To be certain, every company has a fixed amount of resources it can dedicate to hiring staff. While there are times in which companies are expanding teams, often hiring a new team member means replacing an existing one.
This doesn’t mean, however, that bringing in a fresh perspective requires kicking an old dog to the curb. Companies can rely on natural turnover to create openings. The broader point is that losing a team member and finding and onboarding a replacement isn’t necessarily a terrible proposition.