Research Paper on the Attrition Rate in Financial Shared Services Organization

3. Why is it important for HR management to transform from being primarily administrative and operational to becoming a more strategic contributor?

* Better two-way communication with employee. Do the employee satisfaction survey once a year before somebody is trying to quit.

The aspects of business success that Jones (2012) chooses to study are that of customer retention and employee satisfaction. Being able to minimize the loss of customers correlates to improved financial

Rationale: Literature shows the relationship between turnover, job satisfaction, and organization commitment (Devi, Amalraj, & Devi, 2013). As discussed earlier, satisfied people stay more with their company. High turnover rate is a big issue in healthcare industry (Devi, Amalraj, & Devi, 2013) especially with a tight labor market, and aging population (Abrams, 2002).

Loosing valuable resources due to low morale, lack of development, and trust creates unexpected costs to ACC. The company actually spends an upwards of 60% depending on the resigned employee’s salary to train a new resource (Catalyst, 2015). Just last year ACC’s turnover rate was at 11%. Customer complaints have also increased because productivity has declined. The results

Consulting Group – Team D has performed a series of analysis on behalf of the top management of Ballard Integrated Managed Services, Inc (BIMS). These tasks were the result of an emerging trend of attrition and employee dissatisfaction within their organization. The initial actions taken involved data collection that were presented in the form of an internal employee survey. The data collection analysis revealed our hypothesis and we set out to prove that the increase in employee turnover was due to low employee morale and poor employee performance.

Employee retention efforts may include, constantly communicating with employees, and paying attention to surviving employees. As an example of a strategic Human Resource plan to hold on to skilled employees, an alternative work arrangement such as telecommuting might be offered to a worker.

The researchers have chosen the call center industries in the Philippines to best suit their subject matter about employee turnover rate and benefits. There are certain reports and data that shows the high turnover rate over call center industries locally. Turnover rate in the country’s call center has gotten so worse that it has hit 60 to 80 percent, according to the Call Center Association of the Philippines (CCAP) (AURELIO A. PENA, Davao Today March 20, 2008, http://www.gmanetwork.com/news/story/85640/news/specialreports/rp-call-centers-reel-from-world-s-highest-turnover, viewed: 8/20/2012). Globally, it is an accepted norm in the industry to have a 30 to 40 per cent turnover. Both Australia and India call centers have turnover rates of only six to 10 percent. Top government officials are alarmed that an emerging industry that has generated around 2 billion US dollars in annual revenues is reeling from a worsening turnover crisis.

All over the globe retaining employees is a most critical factor for the organisations. High employee turnover is more common in private sector as compared to public. In construction industry, to reduce employee turnover and to improve the productivity of an organisation, organisations have to be aware of the reasons why an employees quit the organisation?. Employee turnover can be explained as the expenses, in term of money, time, and quality of work, that an organisation bear while replacing an employee. If an organisation fails to satisfy the needs of its employees then it is obvious that the employees will look forward to fulfill their necessities. This chapter discuss the reasons why employees quit their jobs.

Explain the remaining employees the reason for turnover and motivate them and offer benefits so that they is no further

Building a loyal customer base is a primary goal for companies of all sizes around the world. The benefits of having a customer retention department were assessed during this research. To achieve this goal, companies need a systems infrastructure that provides detailed information on each customer’s activities and allows them to proactively analyze and anticipate customer dissatisfaction. Well-trained and empowered agents can retain the vast majority of their customers. The challenge is to give agents the support, information and flexibility they need to get the job done, while having a management team in place to

The turnover of key employees will mean loss in productivity, loss of customers, damaged morale, damaged organization image, destabilized business and incurring costs associated with separation, hiring and training, all which will affect the organization's overall performance. Powerful leaders know that the success of their company is built on the quality of their people (Cheryl Cran, http://www.cherylcran.com/). Thus retaining top or key performers is critical to the long term health and success of the business.

Taking their people (employee) further by keeping the dynamic staffing need across the company remained significant task for their human resource team.

This research paper is an examination of literature surrounding the topic of employee turnover. I will attempt to show the relationship between benefits and trends in employee turnover. Evidence supports the fact that there is a statistical relationship between this correlation

As a business management, strategist discuss and advice on how to deal with this Issue.