What Kinds of Problems Do You See When Agile Teams Churn Team Members a Lot?

A while ago I did some analysis that talked about both the positive and negative impacts of churning Team members. Since that analysis I’ve seen that:

Adding or subtracting 1 or 2 Team members will result in an average reduction of 24% in velocity for the next 3 Sprints

So what are the impacts on a people and Teams if they are subject to high churn?

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