Employee Turnover Report for MicroTech Systems

Resource &talent planning (RST) assessment activity 3 template
MicroTech Systems employee turnover report
Name:
Word count:
Introduction
In this fast running world, it is determined that competitive environment is
taking the wider place in each & every organisation. Because of high level of
competition, of the employees are leaving their job in order to get more effective
opportunities which mainly lead the high staff turnover rate. In order to retain the
employees in their organisation, HR manager need to focus on the employees
retention strategies so that manager can appropriately retain the best talent at their
workplace (Aguenza & Som, 2018). It is analyzed the ability to retain a positive
&motivated employee is critical to the business survival. Employee retention raises
costs &lowers morale. Implementing an effective retention programme is a good
method to ensure that key employees stay on the job simultaneously maintaining
&sustaining productivity &morale. For this assessment, Micro Tech System
organisation is considered which is established in London. HR manager of the
MicroTech Systems' analysed that staff turnover is higher than it should be. Company
decided that set a task to developa financial model for allocating money to lowering
staff numbers, as well as identifying &explaining why retention strategies will be
most effective.

Why employees leave
Over the previous year, millions of people have quit their jobs owing to a lack
of desire &advancement, as well as being overburdened - &harsh supervisors. A
survey of 2,000 research concluded that over a fifth had quit their employment due to
personal reasons in the previous 12 months, with another 22% having done so in the
past 5 years. Employees leave their employment for a myriad of purposes: a nasty
boss, a lack of recognition, poor business practises– the list is regrettably infinite.
Examining the fundamental cause of an employee's resignation is critical. When
someone joins a corporation, they do this with the goal of advancing their career.
Individuals choose a company that works for in the expectation that it matches their
principles, professional skills, &career goals (Bloom &et. al., 2021). There are
various kind of reasons are considered by the organisation which can create various
reasons in order to sustain in the organisation. Some specific reasons which mainly
employees are facing such as non competitive &monetory benefits, wrong culture fit,
workload, lack of motivation, lack of employment value, lack of compensation, stress
&many other.
Employees leave their jobs for a variety of reasons. They move throughout the nation
with their husbands or partners, remain at home with parents, change occupations,
find college educated professional promotions, &return to school. But they include
personal events in the worker's environment from outside work; those causes are
difficult for a business to address. It is analysed that Micro Tech System company
employees are mainly facing some specific issue like lack of flexibility & also stress
level. In context of lack of flexibility (Imran &Ayub, 2017). It is analysed that
Flexible working hours &the ability to work from home are already becoming
increasingly significant — particularly among younger demographics. According to
research, 93 percent of the 25–34-year-olds polled said this was critical to their job
satisfaction. A lack of workplace flexibility could mean limiting people' ability to take
particular vacation days, not having part-time working options, or not being self -
employed when required. It is also determined that stress level is also considered as
the main issue which mainly bother the employees. In case of stress level, it is
determined that Employees burn out &eventually abandon their occupations when
the role, organisation, or business itself will become too demanding. Unrealistic

standards &excessive workloads are the most common causes of workplace stress,
according to 38% of UK employees.
Cost of employee turnover
There are various factors are involved in context of the cost of the employee turnover
such as hire people who have the same values as your company, allow for a variety of
working hours, business pay and benefits, demonstrate superior on boarding abilities,
put a strong emphasis on professional growth, enhance management and leadership
capabilities, encourage a healthy work-life balance and also encourage people to
participate in health and wellness programs. There are some other factors are also
involved which are given below-
Hiring costs
It is determined that advertising a new employment opening isn't inexpensive,
specifically if company just want the perfect prospect to notice it. HR manager could
hire a staffing agency, which will cost you 10-20% of the annual income for the job.
But keep in mind that you only have to pay if you hire someone recommended by the
organization. Company might also post a job ad on the internet. The price will vary
depending on the sort of advertisement you select. A 30-day employment ad on
Monster will set you back £130, whilst a six-week job ad on Reed will set you back
£79 (Jaseel, 2019).
On boarding &training
It is analyzed that company need to really have to welcoming them to company team
after HR manager chosen the suitable individual. Company can send together some
kind of welcome package for them that include their offer letter, copy of their
contract, business benefits information, & the terms & also conditions of employment.
They won't cost much to prepare for one employee, but if company ever needs to
create these frequently, the expense will quickly add up.