preview

Turnover Is A Word That Most Common Is Better Job Opportunity Or More Competitive Pay?

Better Essays
Turnover is a word that most people in the workforce are familiar with. It can be involuntary, which generally means termination of an employee, or it can be voluntary, which means an employee has made the decision to leave, whether it be something life altering such as moving out of area, or maybe they found a better job offer. One goal of a Human Resource department is to reduce both types of turnover. Turnover costs the company time, money, and productivity, so reducing these costs is important. The first thing to look at is what causes this turnover, and then create approaches to reduce these causes in the future. Let’s begin by looking at the top reasons why employees resign, or the voluntary turnover. One of the most common is…show more content…
• Lack of proper compensation.
• Insufficient time off.
• Change in management.
• Outdated machinery and equipment. • Unrealistic goals.
• Lack of management support.
• The need to be challenged.
• Lack of a joyful environment.
• Lack of a clear pathway to success. Forbes.com also lists their top reasons why your best employees will resign. This includes no vision, no connection to the big picture, no empathy, no motivation, no future, and no fun [Efron, Web]. Looking across these few sources, we see the biggest issues being lack of compensation, motivation, appreciation, growth and development, and the work environment. A Human Resource department must find ways to reduce these issues. As I stated before, the issue of compensation is difficult if there is a better job offer on the table. When it comes to wage structures, it is important to have a wage and job evaluation system in place to avoid the issue of workers seeing someone paid more for the same work [bizfilings.com]. However, when competitive pay is difficult to offer, you must try to compensate in different areas such as attractive benefits, maybe flex-time, or possibly performance bonuses. Throughout this research, I will refer to my experience in a call center environment as a means of looking at how the most common information relates to my call center supervisory experience. From this experience, compensation is something I hear representatives speak about on
Get Access