Employee turnover poses a significant challenge for human resource managers, impacting organizational performance, productivity, and profitability. This paper delves into the causes, consequences, and potential strategies for managing employee turnover. Using an electronic questionnaire distributed to HR representatives in Slovakia, the study examines various factors contributing to turnover, including job dissatisfaction, compensation, and career growth opportunities. A multiple regression analysis was conducted to explore the relationships between these variables and turnover rates. The findings highlight the critical role of proactive engagement by HR managers in mitigating turnover, especially by addressing factors such as workplace culture and work-life balance. Furthermore, the study discusses both the direct and indirect costs of turnover, including the loss of institutional knowledge and its effect on employee morale. The results underscore the importance of adopting data-driven strategies to anticipate turnover and improve employee retention. Ultimately, organizations must focus on creating supportive work environments to reduce the negative impact of turnover while leveraging it as an opportunity for bringing in new talent and enhancing diversity.