Recruiting, selecting, orienting and then placing employees in jobs do not ensure success. In most cases, there remain some gaps between employee knowledge and skill and job demand. The gap must be filled through training and development programs. Employee turnovers cannot be eliminated. But given the high costs involved and the impact on productivity and customer service, a well thought-out program design to retain employees can easily pay for itself. It is surprising to learn that it will cost at least 150% of a person’s base salary to replace him or her. This study empirically evaluated the causes of turnover in Bangladesh, broadly categorized them under six Employee Development (ED) practices; Realistic job information during selection process and orientation, work family balance, career development, compensation, job analysis, and supervisor support and assessed their likely impact on the Employee Turnover in the Bangladeshi Banks and IT Companies. This is concluded from the fact that employee development practices can affect turnover by their influences over employee skills and motivation.