Employee Turnover Analysis and Strategies for Retention: A Report

This report examines the critical issue of employee turnover, exploring its background, definition, and various solutions. The introduction highlights the impact of employees leaving organizations due to dissatisfaction or other reasons, distinguishing between voluntary and involuntary turnover. The main body delves into the problem's background, emphasizing the importance of employee retention for business growth. It defines employee turnover, including its types and impact on business operations, such as reduced productivity and increased costs. The report then generates solutions to mitigate turnover, such as reducing boredom, providing flexibility, offering rewards, and implementing effective hiring practices. Each solution is evaluated, considering the pros and cons of flexibility and rewards. The report concludes with an implementation and action plan, including steps, responsible parties, resources needed, and expected outcomes to improve retention rates. This comprehensive analysis provides valuable insights for businesses aiming to address and minimize employee turnover.

Solution application

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Background of the problem ........................................................................................................1
Definition of the problem ............................................................................................................2
Solution generation of employer turnover rate............................................................................3
Solution evaluation of employee turnover .................................................................................4
Implementation and action plan .................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Employee turnover is the term that is related to leaving an organization by employee that
is related to some problems. Employee leave business as it is not satisfied with working
environment or any other reason (Hom & et. al., 2017). It comprises of two types voluntary and
involuntary. Cause of employee turnover is due to lack of work and dissatisfaction of employee
towards company.
Report will include problem background, definition and solution generation and
evaluation. Furthermore, it include implementation and action plan.
MAIN BODY
Background of the problem
Employee turnover is the part of human resource management that help in reducing this
problem from the company. It is important in reducing this problem from the company that help
in future growth and bring opportunities in the future. In earlier days employees do not take into
consideration every aspect of company that help in satisfying needs and demands of employee.
Now a days employees are more worried about their jobs and work they have to perform while
doing work in the company. There are many factors that affect employee turnover in business
due to lack of satisfaction, working hours etc (Frederiksen, 2017). As employees are getting
more and more experience they are able to take self decision in their own way that facilitate in
deciding either job is suitable for them or not. On the other hand, employees that are providing
different aspect in business are running it till the future. In past days employee turnover is not
much as they do not have much knowledge regarding policies and procedures that are adopted by
the company for the future.
It is important in gaining into different account that is useful for business. If there is less
employee turnover then company will be able to create more opportunities. There are different
segments that are mainly focus on employee turnover and enabling in utilizing proper resources
for the future. Different HR practices are taken into consideration that help in providing differen
perspective in the company (Ugoani, 2016). It is important in maintaining employee turnover
that create problem for utilizing various changes in the organization. Earlier employee turnover
is less as compared to present scenario. Employee turnover is providing various segment to
employee that facilitate in providing various aspect that is important for it in the future. For the
purpose of reducing employee turnover retention of company will be improved so that it is
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providing different company that will be helpful for the future. It is important in providing
various aspect to the company in reducing employee turnover in certain business situation. There
are different factors that will be affect employee turnover that is helpful in gaining different
perspective. Employee turnover is the major problem that occur in every business as employees
are not satisfied with working environment that will be useful for handling operations in
business.
Definition of the problem
Employee turnover means leaving organization by employees or replacing an employee
to new one. It is measured by taking percentage rate as turnover rate to employees as that of
present employees working in an organization. Turnover rate include percentage of employee
that are leaving work at a certain period of time. There are two types of employee turnover that
include voluntary and involuntary. Voluntary turnover refers to an approach of leaving a
business by resigning from the company (Guha & Chakrabarti, 2016). On the other hand,
involuntary means when employer decide to discharge employee from the premises. It is having
a greater impact on business operations as employees are leaving company so there are not
employees to manage work that help in creating problem in business. Another impact is that
there is no growth and opportunities in business.
High employee turnover will be harmful as this is having an impact on productivity of
workers as well as on company. If there is excessive turnover then will lead to more cost to the
company as they have to hire more employees in business. Employee turnover will reduced that
help in gaining more profit and sustainability in company. It is important for development of
employee in business so for that proper training and development is being provided that help in
enhancing operations. Employee can be motivated by offering them incentives, bonuses, rewards
etc. so that they can retain in the company for longer duration. It is also having an impact on
performance as of there are less employees working then it affect performance of employees.
There are different aspect that create various perspective for the future (Nelissen, Forrier &
Verbruggen, 2017). Employee help in enhancing growth and bring new ideas and creativity that
provide growth for future perspective in business. Retention of employee is necessary as it help
in bringing various perspective for the future. Through turnover rate there problem arises that
lead to create different perspective for business. There are different changes that have been made
to enhance growth and bringing more opportunities for the future. It is important in enhancing
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retention of employee that will be providing various aspect and changing scenario for business. It
is important in enhancing various aspects that enhancing business as utilizing them for the future.
It is having positive effect on business that generate more employee and developing skills and
knowledge for running business operations. In case employees are not satisfied with their job
then leave business and that create problem for them.
Solution generation of employer turnover rate
Employee Turnover remains the big issues for the various company in today's world.
These are given below better solution to reduce the high employee turnover(Reina .& et.al.,
2018).
Reduce Boredom
Even if the employees of an organisation are well satisfied with their jobs but as the
same time they will feels a little boredom ,especially in the case when they are under utilised but
they are going through the lethargy phase eventually. For that it is always make sure that the
employees are always busy in something. They have always something to do. For engaging
them organisation managers can give a training course of something creative related to their
work. also they provide a course which help them to create personal skills,soft skills , as it is
beneficial for company also(Li & Zhao, 2017). Another good way to reduce their boredom is to
human resource manager can enables them to play some games timely so they will a little relax
from their busy schedule. This will helps them to interact with their colleagues more better and
also maintains the relationship.
Provide flexibility
Organisation provides freedom to complete their work according to their own hours. It
includes the location from where employees want to work from especially females workers ,who
have to manage their professional as well as take care of their personal life. so it is hard for them
to manage work from office(Han, Bonn .& Cho, 2016). Work from home saves their money and
also saves their vital time.
Give them rewards
offer employees more quirky benefits .if an organisation unable to pay the better salary then
they provide quirky benefits such as discounted health check-up ,provide unlimited number of
holidays and also compensatory amount of money which is more than daily wage of a employee.
it helps them to being loyal towards the organisation and also helps them to build the trust.
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Hire wisely
Hiring the right people plays a very major role in the employee turnover(Reina .& et.al., 2018).
As it is one of the hardest thing that a Human resource e professional have to do as it is an
exactly a part of process that can reduce the unwanted turnover. So HR Professional hire the
employees more wisely as it is a right saying right people for right job. so they have to be pay a
lot more attention as they have to chose according to their skills and also assign them roles as per
their skills .it helps them to reduce the employee turnover problem.
Solution evaluation of employee turnover
PROS AND CONS OF FLEXIBILITY
PROS
Better morale
Employees who work in more flexible hours such as work from home or work for only
few hours enables them to work more than their efficiency. As they feel cheerful at the work
place which can transfer to other employees and keep their morale high towards the works for an
organisation(Li, Kim.& Zhao, 2017).
Improved efficiency
if employees feels happy from the inner soul then they can translates this happiness to
their work and will able to perform their task more efficiently and productively.
CONS
Distractions
Flexible timing provides employees to coming and leaving throughput the day as it
creates problem as it disturbs the office decorum and also distract their other colleagues. also
work from home and half days can influence the workflow of the company.
Reduced Productivity
Flexibility enables the employees to take the things for granted as it gives the freedom to
work as per their own will. It may destroy it as employees may focuses on their personal stuff
and taking their relegation work on a secondary basis.
REWARD PROS AND CONS
PROS
Healthy Competition
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it helps them to create the healthy competition as if an employees get the incentives for
extra efforts then other employees also motivate to work beyond their limits and helps them to
create a healthy competition which is good for company(Han, Bonn .& Cho, 2016).
Clearly defined goals
it enables them to provide a clarity to achieve a certain goal and employees know exactly
what never wonders about that what their boss wants.
Cons
Build in limitations
Incentive are the best for repetitive tasks but it can loose the effectiveness quickly when
there is a need of cognitive skills. it may motivate the production line workers but also leads
stress to the i.t developers engineers (Han, Bonn .& Cho, 2016).while focusing on the
productivity can impact negatively on quality.
Implementation and action plan
Employee turnover and retention rate is becoming a major problem for
organisation .Nearly 72% of organisation reports that the staff turnover rate impacts the negative
financial impact because of cost of recruiting ,hiring as well as training. There is a plan given
below
Action
Steps
Persons
and
partners
responsibl
e
Resource
needed
internal
and
external
Progress
indicated
at
Benchmar
k
Completio
n date
Evidence of improvement
What are
steps
required
for
implement
ing
strategy
Who are
responsibl
e for each
and every
step
Resource
which
need both
internally
as well as
externally.
(Han,
Bonn .&
Cho,
2016)
(Han,
Bonn .&
Cho,
2016)
How
would an
organisati
on know
that it
made
progress
on each
and every
step
Expectatio
n of
completio
n each
action step
The consequences of each
completing step
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Give
positive
feedback
Human
resource
profession
als
Humans
resource
It provide
positive
feedback
to
employees
on each
week
For about
six month
It helps to move forward and also
become more aware about the
negative comments which HR
professionals said to staff
members. So here managers are
well known about their each and
every activity.
Encourage
employee
creativity
Human
resource
profession
als ,Manag
ers
Human
resource,tr
aining
sessions,
available a
course
It gives
rewards to
give the
new
suggestion
about the
welfare of
the
company.
For five
months
The employees can give suggestion
to the mangers and creates a
healthy relationship after five
months .
Here employees made self
decisions about the various things
which they earlier can't.
CONCLUSION
From the above study it can be summarised that employee turnover is not good for the
company. It reduces productivity and growth for the future. There are different perspective that
will help in gaining employee satisfaction. This can be reduced by motivating employees to do
work effectively and efficiently and providing different aspect for bringing creativity in business.
It is important in providing various aspect that will be useful for the future. Hence, it is essential
in reducing employee turnover from business.
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REFERENCES
Books and Journals
Frederiksen, A. (2017). Job Satisfaction and Employee Turnover: A firm-level
perspective. German Journal of Human Resource Management.31(2). 132-161.
Guha, S., & Chakrabarti, S. (2016). Differentials in attitude and employee turnover propensity:
A study of information technology professionals. Global Business and Management
Research.8(1). 1.
Han, S. J., Bonn, M. A. & Cho, M. (2016). The relationship between customer incivility,
restaurant frontline service employee burnout and turnover intention. International Journal
of Hospitality Management.52. 97-106.
Hom, P. W. & et. al., (2017). One hundred years of employee turnover theory and
research. Journal of Applied Psychology.102(3). 530.
Li, J. J., Kim, W. G. & Zhao, X. R. (2017). Multilevel model of management support and casino
employee turnover intention. Tourism Management.59.193-204.
Nelissen, J., Forrier, A., & Verbruggen, M. (2017). Employee development and voluntary
turnover: Testing the employability paradox. Human Resource Management
Journal. 27(1).152-168.
Reina, C. S. & et.al., (2018). Quitting the boss? The role of manager influence tactics and
employee emotional engagement in voluntary turnover. Journal of leadership &
organizational studies. 25(1). 5-18.
Ugoani, J. (2016). Employee turnover and productivity among small business entities in
Nigeria. Independent Journal Of Management & Production (IJM&P). 7(4).
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