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The Impact Of Voluntary Staff Turnover At Organizations And Demonstrate How Retention Strategies Can Be Implemented

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Voluntary Turnover – How To Slow The Revolving Door HRMT 2237 Justin Purslowe 20927999 1/1/2015 The purpose of this essay is to show the detrimental effects of voluntary staff turnover to organizations and demonstrate how retention strategies can be implemented to retain talented and motivated employees. This essay draws on knowledge from empirical studies, to analyze the types of turnover and possible solutions for organizations in the future. Table of Contents Introduction – Why Is Turnover a Problem? 2 Empirical Evidence - Employee Turnover 3 Addressing Recruitment and Selections Processes 5 Strategic HRM and internal business development 6 Effectively managing a changing workforce demographic 7 Executive Summary 8 Appendices 9 Bibliography 10 Introduction – Why Is Turnover a Problem? Employee turnover remains a problem associated with great costs and disruptions to organizations, and there are various indirect costs that tend to be overlooked as they are hard to quantify. HR practitioners are faced with a number of types of turnover that interrelate within organisations, stemming from functional and dysfunctional origins (Bishop et al 1994). The old goal of HR practitioners to minimise overall employee turnover needs to be replaced by a new goal: to influence who leaves and when. If managing employee retention in the past was comparable to tending a dam that keeps a reservoir in place, today it is more like managing a river - the
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