@TechReport{iza:izadps:dp2322,
            	author={Siebert, W. Stanley and Zubanov, Nick and Chevalier, Arnaud and Viitanen, Tarja},
            	title={Labour Turnover and Labour Productivity in a Retail Organization},
            	year={2006},
	month={Sep},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={2322},
            	url={https://www.iza.org/index.php/publications/dp2322},
	abstract={We study the impact of labour turnover on labour productivity using a panel dataset of 347 shops belonging to a large UK clothing retailer over1995-1999. For the within-shop link – holding constant the shop’s permanent characteristics – we observe an inverted U-shape effect of labour turnover on productivity. The productivity-maximizing rates of FTE-adjusted quits and hires are each about 20% per year, improving productivity by 2.5% compared to the zero turnover level. We explain the difference between this optimal level of labour turnover and its observed average (quits and hires each around 10%) through the costs of hiring estimated at about £600 per hire. By contrast, between shops, there is a positive link between average rates of turnover and average productivity, suggesting that an unobservable management quality factor generates both high turnover and productivity, which we discuss. },
	keywords={matched employee-firm panel data;retailing;labour turnover;labour productivity},
            }