Turnover refers to the rate at which employees leave a job and new employees are hired for the same job. High turnover rates can lead to inconsistency within a company, poor productivity, and a lost sense of unity within a company. Likewise, having a low turnover can reverse these negative effects. In many cases, regular employee evaluations can decrease overall turnover rates.
Well, the benefits of low turnover are decreased cost. Obviously the indirect costs, which are the replacement costs for a new employee, or the direct costs that it has to take care of an employee are things that you're going to reduce by hiring the right people, matching them to their job and expecting from that more longevity as far as say, performance of the essential functions.