The Issue Of Knowledge Loss From Departing Employees

On the other hand, the success of the company is in large part due to the hard work of the staff who would lose their employment. In addition, it must be determined who would perform the work of the dismissed employees and if the company would be able to function without them. Moreover, the morale and productivity

“ The success of a company in the 21st century will be determined by the extent to which its leaders can develop intellectual capital through knowledge creation and sharing on a global basis,” (Ichijo and Nonaka,

When an employee leaves the company of his or her own volition, it is called voluntary turnover. In this essay, I will discuss why voluntary turnover is a problem for many organisations and how to retain employees.

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

The effect of mismanaged LAYOFFs on the remaining workforce and the effects, lack of management preparation, the human condition, and lack of mitigation strategies. We think that the problem with this article is that not enough managers or HR personal, know how to let a person go from their employment effectively. They sometimes don't realize the impact that it has on the other employees morals. Also, that sometimes companies don't take a closer look to make sure downsizing will be the answer to cutting costs like they think that it will. Every HR or manager should be let go in their lifetime so

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’

Nevertheless, these methods cannot predict employees’ turnover. Morrell et al. (2001) discuss about two key concepts: voluntary and involuntary turnover. Voluntary turnover relates to the employee’s decision to leave such as illness or personal reasons. While, involuntary turnover relates to company related problems such as the need to cut costs or to downsize. Even if organisations develop means to identify the characteristics that influence turnover, neither of these two types can be successfully foreseen during the recruitment process. As a result, employers need to secure long term employment since a labour turnover will have a high cost both in terms of recruitment and selection and in terms of training sessions meant to enhance the employees’ soft skills. (Beardwell and Claydon, 2010).

It is difficult to fully calculate the cost of turnover; however, industry experts often quote 25% of the average employee salary as a conservative estimate (Nobscot Corporation, 2016). The direct costs of employee turnover include advertising, recruiting, hiring and training costs. Although there is a significant financial impact to an organization the cost is based only on replacing an individual employee. Turnover can also have indirect costs, such as workplace productivity loss, workflow efficiency and the loss of organizational knowledge. When an employee leaves, they take with them valuable knowledge about the organization, the customers, the current projects and past history, sometimes taking this information to competitors (Nobscot Corporation, 2016). Not retaining the adequate numbers of employees could also lead to over-burdening employees, low employee morale, poor customer service, and more safety concerns (Jones & Gates,

This report aims to evaluate reasons for high employee turnover rates and introduce effective counter measures to combat losses. I researched a number of peer journals, scholarly reports, and organizational reviews to complete my analysis. I was able to ascertain a few key elements that have proven to be desirable for employees on all levels and develop a clear understanding of elements that push employees away from an organization. This report uses the data I collected to suggest why employees leave and how to keep them.

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.

To get sustainable competitive advantage, the significant role of knowledge management has been explored. Knowledge management causes companies’ core competencies to become stronger. Therefore, competitive advantage has been more sustainable. Knowledge management is perceived as the development of organizing the intangible asset of a firm. The economic and production level of a company relies more on its brainpower, human capital and invisible competences than its physical assets. The function of each business relies upon the knowledge of its human capital.

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

In as much as it is possible that a turnover occurrence might result to improved degree of job performance, this impact is more commonly negative at the collective levels. Therefore, the reason for this is that losing a member causes disruptions in their collective state and processes (Hale, Ployhart & Shepherd, 2016). The turnover event might cause disruptions in the sacred or tacit knowledge and needs members to commit extra focus to learning new knowledge regarding replacements. Moreover, turnover

In terms of assessment of overall performance, a learning organization assesses its performance through learning histories, their creativity and innovativeness, the extent of their long-term goal achievement and share accountability for the performance. A traditional organization only care about numbers. Performance is assessed through how much profit is made, was the target achieved, and is there too many employees. These are short-term effects which may make the organization efficient but does not necessarily help it grow and improve. The organization is rigid and feels ‘stiff’.

RETENTION OF EMPLOYEES: Employee retention is one of the most widely researched topics in organizational analysis. Employee retention is a practice or method or whatever organization does to have and retain skilled employees (Dochy et al, 2009) . Retention is considered as all around module of an organization’s human resource strategies. It commences with the recruiting of right people and continues with practicing programs to keep them engaged and committed to the organization (Freyermuth, 2004). Despite various past researches, there is still a lot of confusion about the factors responsible for employee turnover. Among those factors are the external factors( the labor market), institutional factors ( such as physical working conditions, pay, job skill, supervision and so on); employee’s personal characteristics( such as intelligence and aptitude, personal history, sex, interests, age, length of service and so on )( Knowles, 1964)