Managing Employee Retention and Turnover Essay

In this paper Team C has discussed the issue of poor employee retention concluding in a high employee turnover rate. This is an issue that can be common among some companies and that is a great example of

Retaining employees is one way the turnover rate can decrease, Branham (2000), focuses on retaining valuable employees by incorporating four key elements. The first key elements is, “be a company that people want to work for”. There are many companies that have been labeled as, “employers of choice”. These employers all have something in common, which is how they value their employers (Branham, 2000). They treat their employees with respect and like family. With being an “employer of choice,” people are the most valuable asset; not just customers but employees too. Many companies go above and beyond for their customers, but not for their employees, yet they wonder why they are losing valuable talent.

The retention of employees basically refers to different procedures and practices that help retain employee for a much longer period of time. The following issues should be taken under consideration if they want their employees retained for a longer time period: management, communication, salaries, decision making, perks, career development, recruitment, understanding and appreciation (Belanger and Caron, 2005).

There are two types of turnover, voluntary turnover happens when the employee makes the decision to leave and involuntary turnover is when employees has no choice in their termination (Schmitz, 2012). Every month or sooner managers experience some of their exceedingly qualified employees leave the company. After realizing that their company is becoming less profitable is when they begin to wonder why and brainstorm on ways to retain them. In Information Technology, “the cost of recruiting new staff is high and the loss of continuity when staff leave can also be very expensive” (Bott, 2005, p. 111). In IT, human resources strive to maintain their highly skilled employees while employees’

This paper shall establish a plan for Quality Improvement (QI) activities in an establishment like a therapeutic massage clinic such as the Relax Station. I have been a massage therapist since 1996. My training was in Florida, where I graduated in 1996 with 650 credit hours. I am certified from the school I attended, and am insured by one of the biggest associations for massage therapy, Associated Bodywork and Massage Professionals, (ABMP). I have worked as an employee and a contract worker for massage establishments. I am a contract worker now, but, used to work for Relax Station in Ann Arbor, MI, as an employee. The Relax Station has a problem with keeping staff, and the turnover is high.

In the globalized and changed competitive business world, it is important responsibility to deal with employee turnover for any organization. Effective and efficient management of employee turnover is an essential task to achieve the organizational overhead goals. Significant amount of research has been undertaken to understand the major causes of employee's turnover and retentions mechanisms that organizations should develop, especially in the field of healthcare.

Workforce turnover is a complex and important issue amongst today's organisations. It is perhaps one of the most often cited cause of increased cost and decreased productivity. No wonder people management has become an important frontier to extract and create more value from company assets. On comprehending the articles, it has become evident that organisations have moved beyond the traditional approach of only investing in core business activities, to invest in employee retention strategies. Many organisations, for example St. George Bank

The work I have submitted is my own effort. I certify that all the material in this Dissertation, which is not my own work, has been identified and acknowledged. No materials are included for which a degree has been previously conferred upon me.

Training and Development is imperative to the organization’s progress. Training helps addressing employee weaknesses and builds a reliable and skilled workforce. This will improve the employees’ performance and boost their self confidence, and innovation. By acquiring the needed knowledge and skills, employees can perform more efficiently and increase the overall productivity of the organization.

Employee retention has always been an important focus for human resource managers. Once a company has invested time and money to recruit and train a good employee, it is in their own best interest to retain that employee, to further develop and motivate him so that he continues to provide value to the organization. But, employers must also recognize and tend to what is in the best interest of their employees, if they intend to keep them. When a company overlooks the needs of its employees and focuses only on the needs of the organization, turnover often results. Excessive turnover in an organization is a prime indicator that something is not right in the employee environment. We will look at

The work I have submitted is my own effort. I certify that all the material in this Dissertation, which is not my own work, has been identified and acknowledged. No materials are included for which a degree has been previously conferred upon me.

Knowledgeable and well trained employees are needed in every organization. It is important employees are able to perform all the tasks needed in order to reach the organizations needs and achieve the set goals. As times change, employees may stay behind in skills or may even lack training when it comes to new systems, technology or other procedures that the company may need in order to better performance. That is when the importance of training is more evident. An organization has a large responsibility for their success which is why training, development, and career development is

Failure to retain key employees is costly to a company’s bottom line and risks the loss of experienced individuals to competitors. Ramlall (2004) emphasizes that in a highly competitive labor market, there is extensive evidence that organizations regardless of size, technological advances, market focus and other factors still face retention challenges. Therefore understanding the implication of employee turnover is imperative to the organizations overall strategies.

Even though employee retention starts with attracting potential employees, today’s society has placed a new and greater demand for skilled and educated employees as new hires for their companies. These employees, however, are starting to become harder and harder to find. So

2. The second reason for high rates of hospitality staff turnover include deficiency of plentiful doles such as company provided health insurance, retirement benefits, vacation pay, sick leave, additional schooling or exercise programs and other peripheral benefits which are so often perks of other industries. Since the labor pool for a large portion of hospitality jobs is so poor and turnover is so high, a majority of hospitality companies are unwilling to capitalize in programs which would