A study on voluntary turnover and organisational performance with training and education: focusing on small and medium-sized enterprises

This study aimed to empirically examine the relationship between investment in vocational training, voluntary turnover rates, and organisational performance, focusing on small and medium-sized enterprises (SMEs). Using firm panel data, we tested the effect of the independent variable, training costs per employee, on the dependent variables of voluntary turnover rates and an indicator of organisational performance (revenue per employee) through a fixed-effects model. First, we found a statistically insignificant relationship between training costs per employee and the voluntary turnover rate. Second, we observed a statistically significant relationship between training costs per employee and revenue per employee. Additionally, in companies with fewer than 300 employees, a statistically significant effect on the voluntary turnover rate was noted, but no significant effect was found on revenue per employee.