Employee 's Lack Of Job Satisfaction Essay

1637 Words7 Pages
A hole is left the absence of an employee either by termination or quitting by choice (Kaur & Vijay, 2016). High employee turnover leaves more holes the employer has to address and becomes expensive (Likhitkar & Verma, 2015). An average cost of $3, 328 to search, hire and train the replacement for a $10 per hour employee (Sadler & Evans, 2016). A median turnover rate of 67% for part-time employees is roughly half of the cost if not more (Oviedo-Garcia & Vega-Vazquez, 2014). Most companies are adopting the impersonalizing contact, online application process, and pre-employment skills test, while ignoring the impact of high turnover rates (Nguyen, Nica, & Bose, 2015). Research suggests an employee’s lack of job satisfaction in part due to a shortage of incentives for front line managers (Chang & Zhang, 2016). Additionally, Millennial employees look for challenging environments, which a contribution or suggestion is valued (Cravens, Oliver, & Oishi, 2015). According to Bloomberg, the retail sector is experiencing staff turnover rate of roughly 5% per month. In following the trend, Wal-Mart would lose 60% of employees on average (Mayer & Noiseux, 2015). Employees site multiple reasons for leaving voluntarily or termination due to lack of job training, and employee recognition Lieb & Lieb, 2013). Companies currently have less than stellar strategies retaining employees resulting in the high turnover rates, which affect profitability (Das, 2015). Problem Statement The
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