The Link Between Voluntary Turnover And An Organization

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.

As the global business environment becomes increasingly competitive, more and more organisations are targeting human resources as a means of strategically gaining competitive advantage. Strategic human resource management (SHRM) is a constantly evolving process which is concerned with providing a strategic framework that supports an organisation’s long term business goals. The logic behind this is that organisations are using new innovative technologies to provide qualitative low- cost solutions, and are trying to manage their human assets more effectively (Wright,

As employee turnover increase, it is the role of the HR manager to keep that from happening, by being more engaged with employers, Richard P. Finnegan introduced this in his book ‘The Rethinking Retention in Good Times and Bad, Breakthrough Ideas for Keeping Your Best Workers’. Mr. Finnegan spoke of the ten principles he believe will decrease the employee turnover, in addition to improving HR and employer’s relationship, he conducted research through surveys, and through experience.

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

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

Employee turnover and the retention of valued employees are major problems facing business in the U.S. The average turnover rate is hovering at 15%. The costs associated with that turnover can be high - generally 25 percent of the individual's annual salary. Unemployment in the United States is at a 24-year low. Employee loyalty is down. Never before has it been so critical to focus on strategies for keeping good employees. However finding a solution to high turnover is not easy.

Employee Retention: Employees subject to an employer restructuring process may become stressed or distrustful of their employer, its management and their coworkers. Restructuring may cause sudden departures of coworkers and management. Human Resources Management is responsible for convincing remaining employees to stay with the organization. Employee retention efforts may include bonuses, employee training, internal promotion opportunities and improving workplace policies and procedures. Although restructuring resulting from falling profits are unlikely to provide salary increases, such restructuring may provide employees with incentives such as additional time off, flexible work schedules or on-site amenities. Human Resources Management is accountable for researching, recommending and implementing employee retention strategies during restructuring.

Turnover is when employees leave an organization either to seeking higher pay elsewhere or for any other reasons (Allen 1). Turnover in an organization is an important aspect that can affect the operations of a business. It has been proven over time to be one of the most expensive and one of the most difficult challenges that can face an organization. As such, Human Resource managers and other top management teams in every industry must pay attention to issues related to employee turnover. Turnover has also drawn the attention of academicians who develop an interest to do more research about it. The paper will focus on the effects of turnover on a business organization.

Employee retention refers to policies and practices organizations used to prevent valuable employees from leaving their jobs (Ahlrichs, 2000).Knowing employee perception and appraising their retention factors are very important to an organization‘s achievement. Conversely, each employee in an organization constructs his or her own understanding of an event and assumptions (Argyris and Schon, 1978). It is the understanding of the situation that provokes an action (Weick, 1979; 1995).

Employee turnover is one of the main challenges facing the hospitality industry all over the world. An increase in turnover gives the restaurant’s heads of human resource department an added task of recruiting and training staff. This strains the restaurant’s finances and affects the net income the restaurant collects. In the case study, the vice president of human resources, Terry Dickson, wants to come up with a solution to the high turnover problem. Consultations are very important to ensure that the selection system made satisfies all the parties involved. The purpose of this paper is to explore the cause of the high turnover, the responsibility

In today’s competitive environment, a company’s success increasingly depends on its ability to hire high-quality employees and to maximise their contributions to the firm. Among the items in a manager’s toolkit, human resource management (HRM) is increasingly being viewed as a key to sustainable competitive advantage, surpassing product and process technology, protected and regulated markets, access to financial resources, and economies of scale (Pfeffer, 1994). Nishii et al (2008) also expressed that the perceived reasons why management chooses a set of HR practices are linked to employee satisfaction, commitment, and on-the-job behaviour.

As Employers, they face enormous challenges when they consider the increasing difficulty of finding skilled people, a more demanding younger workforce, and a growing population of older workers heading toward retirement. Money and benefits are important, but studies show most employees leave for other reasons. Obviously, a certain degree of turnover is unavoidable, but with a small amount of effort organizations can make a major difference. For a company to develop a retention strategy, employers must

In many organisations, voluntary turnover can cause many problems and setbacks. (reference). Managing and adjusting to voluntary turnover needs to be continuously assessed and re-evaluated (reference). Voluntary turnover can be a problem because of reasons XYZ (reference) and causes outcome (reference). This essay will argue that in order to maintain stability and productivity within a firm, specific strategies need to be implemented to manage voluntary turnover productively.

The current global business environment is proving to be shaky especially due to the ripple effects of globalization. Both local and international businesses are increasingly feeling the pressure to grow initial investments in order to fulfill the needs of stakeholders. Even as these businesses continue to make adjustment to measure up to the international standard thresholds, the area of human resources continues to readjust itself in accordance with current market demands. Clarke et al (2010) documented that the field of human resource has for a long time been considered the epicenter of any economy’s development processes. The highly competitive business environment coupled with highly deteriorating on social conditions that have weighed-in on the employees thus causing high turnover in the banking institutions. Various definitions of employee turnover have cropped, however, according to Griffeth (2004), employee turnover is considered to be the ratio of the total headcount of members that have left an organization within a specified period divided by the standard number of employees during the period under consideration. It has widely been interpreted as a measure of general effectiveness of human resources in that a high turnover translates to low effectiveness and vice versa. Employee turnover is a big problem prevalent in many institutions and is mostly associated with actions taken by organizations to reduce expenses and

Within this essay an in depth analysis will be conducted on the difference between Human Resource Management and Strategic Human Resource Management using contemporary perspectives. Human Resource Management (HRM) is the process of managing human resources in a systematic way. It is a practice devised to maximise the performance of employees and is concerned with the application of management principles to manage organisational personnel while paying attention to the policies and systems of the entity (Delaney & Huselid, 1996). Strategic Human Resource Management (SHRM) is a function of management which entails development of policies, programmes and practices related to human resources, which are aligned with business strategy so as to achieve the strategic objectives of the organisation (Patrick M. Wright, 1992). Its primary purpose is to improve the performance of the business and maintain a culture that encourages innovation and works continuously to gain competitive advantage. In this essay the Resource-Based View, High Performance Management and High Commitment Management perspectives of Strategic Human Resource Management and Traditional and Collaborative