How Costly Is Turnover? Evidence from Retail
利用零售团队的日销售数据和提前通知要求，估计了员工流动成本，发现10%的流动率上升仅相当于工资上涨0.6%的成本，这得益于配套人事政策减少了缺岗情况。
We estimate turnover costs in small retail sales teams using daily sales data and an advance notice requirement to address endogeneity concerns. In addition to short-staffing and onboarding costs, we identify two less familiar sources of turnover costs: incumbent workers’ recruitment activities and reductions in team morale after a departure is announced. Our estimates of total turnover costs are relatively modest, however: 10% higher turnover is about as costly as a 0.6% wage increase. We attribute these low costs to a set of complementary personnel policies that ensure that only 25% of departures result in a short-staffing spell.