Labour Turnover Management and Organizational Cost Implications in the Fast-Moving Consumer Goods Sector in Ogun State

This study examines labour turnover management strategies and their cost implications in fast-moving consumer goods (FMCG) companies in Ogun State, South West Nigeria. High staff turnover in the FMCG sector generates substantial direct and indirect costs including recruitment, onboarding, and productivity gap expenses, placing ongoing financial strain on companies operating in a highly competitive market. A professional applied research design was employed, with data collected from HR managers and finance directors in eight FMCG companies through structured interviews and cost analysis frameworks. The Voluntary Turnover Model and Total Cost of Turnover methodology provide the analytical foundation. Findings indicate that average replacement cost per exiting employee in the sampled firms ranges from 50 to 120 percent of annual salary, a figure that most companies fail to accurately track in their HR cost accounting systems. The study finds that sales and distribution staff record the highest turnover rates, driven by intense competitor poaching, aggressive performance targets, and limited career progression pathways within organizations. Companies that deploy stay interviews, structured career development programs, and competitive variable pay schemes demonstrate significantly lower turnover rates and measurable cost savings. Recommendations include the integration of turnover cost accounting into HR reporting frameworks, development of evidence-based retention strategies, and industry benchmarking of voluntary attrition rates. This study offers practical guidance for FMCG HR directors, finance controllers, and business analysts in Southwest Nigeria. Keywords: labour turnover, organizational cost, FMCG sector, retention strategies, Ogun State