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High Turnover Rate of Employees in UK after COVID-19: A Quantitative Analysis

   

Added on  2023-06-12

12 Pages2614 Words218 Views
Business
High Turnover Rate of Employees in UK after COVID-19: A Quantitative Analysis_1
Contents
Introduction to business research problem......................................................................................3
Literature review..............................................................................................................................3
Identification of Dataset..................................................................................................................4
Quantitative analysis of the dataset.................................................................................................5
Visualisation of data........................................................................................................................6
Allocation of the labour market statistics....................................................................................6
Experimental analysis of covid and the impact of payroll employment.....................................8
Rate of unemployment by 16+ nationality – UK nationality......................................................9
Is turnover rate is consider as a issue in public sector...............................................................10
Conclusion and findings................................................................................................................11
REFERENCES..............................................................................................................................12
High Turnover Rate of Employees in UK after COVID-19: A Quantitative Analysis_2
Introduction to business research problem
Currently the study is based upon the rising issue of high turnover rate of employees which is
also becoming challenging due to which many employees and the staff members of the
organisation is leaving there job roles withing and frequently in an span of time. It has been
observed that is is due to the marketing uncertainties and also due to global pandemic of corona
virus which is creating many issues and due to which employees are lacking in there job
satisfaction and motivation in an organisation. Along with this employees are also facing
ineffective engagement of employees and maintained of policies in an company which is
creating an situation due to which there is high turn over rate in the companies and due this
public is also facing unemployment. Therefore, this report has been formed this is an current
issue based research report and it also involve quantitively analysis which focuses on the current
issues and problem of high employment rate that is found in UK after covid-19.
Literature review
According to the analysation it has featured that the issues and problem which is facing by the
organisation of UK which is leading to the high turn over rate of employees are interlinked with
the number of staff and employees are stopping and leaving the organisation and quitting there
job roles due to various professional, organisational and personal reasons(Hausfather, and Peters,
2020). By researching it has been also analysed that this problem of high turnover rate is also
occur due to high cost of the production and operations in organisation as they creates various
obstacles and reduces the level of productivity and also decreases the rate of success of company.
The main negative influence due to the high turnover rate in an organisation not only decrease
the rate of profitability but also decrease the level of productivity in an organisation due
unavailability of potential human resource and this also occur due to unskilled less
knowledgeable employees in the organisation. This fact also disturbs the smooth flow of
business operation of the company(Freeman, 2018).
Beside this, this is also analysed that as increasing the cost of the business also impacts
negatively and leas in increasing the turn over rate of the business as the requirement cost of
employees is high and due to this rising expenditure and it also involves the vacant
advertisement cost which is done through various internet and newspaper medium. After this the
High Turnover Rate of Employees in UK after COVID-19: A Quantitative Analysis_3
cost of hiring customer and then there orientation, induction and there training and development
has a huge cost which increases the overall cost and decreases the profit level of the organisation.
The main cause of employee turn over rate in an organisation is lack of motivation and
communication in the organisation and workplace environment. It also occurs due to unhealth
culture of the organisation and also due to engagement policy. This had been analysed that due to
lack of communication in the organisation it creates huge conflicts and chaos which de motivates
the employees and increase the level of dissatisfaction and that further lead into high employee
turn over rate(Thomke, 2020). As also an unhealthy culture of the organisation is due to inequality
and biasness in the company and it also impact the training and development program thus, these
are the main reasons which has been analysed of high employee turnover rate.
Identification of Dataset
In order to select and identify the set of data is combines with many steps that is required to be
follow by the researcher in order to collect and gather all the small piece of data which can later
can review and than analysed accordingly for the better understanding of an required concept and
the topic. There are mainly two sources from the various source is identified which can comprise
and this include each primary and the secondary data in the analysation process. This is also
observed that in order to gather the information from the primary source it is an complex process
and is considered as time consuming as this is the method to collect the data directly from
respondents(Zhang, Lu, and Zheng, 2020). Therefore, it has been analysed and preferred to use
only secondary source of information for the analysation of data set(Bigelow, and Barney, 2021). In
order to gather and collect the data office of national statistics is made and it also helps in
choosing the dataset analysation of the current project as because this supports an reliable and
authentic source of the data. For getting an better identification of the data it is important to use
office of national statistics in which key words make easier in identifying the data for the better
quality of data and it also ensures that each data set is based on the selected topic. The key words
which can turn helpful in order to identify the data set and combined and has the involvement of
unemployment rate, employee turn over rate, staff demotivation, labour force, reason of high
turn over rate and impact of covid in business. As these keywords are used as the support and
helps in identifying and selecting the dataset effectively and efficiently and which also ensures
High Turnover Rate of Employees in UK after COVID-19: A Quantitative Analysis_4

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