Evaluation of Employee Turnover in ICC Sydney

   

Added on  2023-04-20

37 Pages8381 Words455 Views
ICC Sydney 1
An Evaluation of the issue concerning
Employee Turnover in ICC Sydney
Evaluation of Employee Turnover in ICC Sydney_1
ICC Sydney 2
Abstract
Statement of the Problem
The research focuses on addressing the problems faced by ICC Sydney regarding the growth of
employee turnover and the policy mechanisms required to be undertaken for countering the
impacts of employee turnover on ICC. The research would focus on understanding the factors
that prompts the growth of employee turnover in hospitality industry.
Research Methods
The research activity is focused on being undertaken by a combination of both secondary and
primary research activity. Secondary research is carried out based on the study of books,
journals, reports and case studies associated to the employee turnover issues impacting the
tourism industry and ICC Sydney in particular. Primary research is required to be based on both
interview and survey research activity encompassing both qualitative and quantitative data sets.
Main Findings
The research activity reflects that employee turnover in ICC Sydney is caused owing to the
impact of large numbers of factors like the absence of training, employee development and
empowerment mechanisms, unsafe work practices and also the existence of reduced
compensation levels. The interview of the supervisor of the food and beverage department
highlighted the undertaking of different strategies like development of interaction with the staffs,
enhancement of the compensation levels, helping them attain effective work-life balance and the
like for helping in reducing the attrition levels.
Conclusions
The research activity concludes that the growth in employee turnover levels in hospitality firms
like ICC not only happens to affect the performance potentials of the company in servicing
consumer needs but also tends to affect the profit margins of the institution. The increase in
employee turnover levels tends to enhance the level of manpower costs of the organization
associated to recruitment and training functions.
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Recommendations
In terms of recommendations the management of ICC is required to focus on increasing the
compensation levels for the staffs, develop open forums and consulting activities with employees
for understanding their problems, work on enhancing the safety parameters of the workplace
while also in motivating the staffs based on employing of financial and non-financial incentives
for meeting of departmental and organizational objectives.
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Table of Contents
Table of Figures...............................................................................................................................6
Introduction......................................................................................................................................7
Overview of ICC..........................................................................................................................7
Problem Statement.......................................................................................................................7
Research Aims.............................................................................................................................7
Research Objectives.....................................................................................................................7
Significance of the research.........................................................................................................8
Literature Review............................................................................................................................8
The case of employee turnover....................................................................................................8
Factors influencing employee turnover rates...............................................................................9
Employee turnover in hospitality industry of Australia............................................................10
Impact of employee turnover in hospitality industry of Australia.............................................10
Policies undertaken by hospitality firms for reducing employee turnover rates.......................11
Methodology..................................................................................................................................14
Research Paradigm....................................................................................................................14
Research Design........................................................................................................................14
Research Strategy......................................................................................................................15
Sampling....................................................................................................................................17
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Data Collection methods............................................................................................................17
Data Analysis methods..............................................................................................................18
Research Ethics..........................................................................................................................19
Findings and Discussions..............................................................................................................19
Findings from Interview Analysis.............................................................................................19
Reasons for employees leaving ICC......................................................................................20
Impact of Employee Turnover on the Performance of ICC..................................................20
Significance of developing an effective organizational culture............................................20
Factors encouraging growth in Employee Turnover.............................................................21
Principle factors for employee dissatisfaction.......................................................................21
Policies to encourage growth of employee satisfaction.........................................................21
Strategies to be undertaken for reducing levels of employee turnover.................................22
Findings from Survey Analysis.................................................................................................22
New Trend of Employees quitting ICC.................................................................................22
Most prominent factor influencing employee exits from ICC...............................................23
Factors causing dissatisfaction in ICC's Workplace..............................................................24
Strategy to be undertaken for reducing attrition rates...........................................................25
Factors needed to be controlled for Development of Organizational Culture.......................26
Conclusions and Recommendations..............................................................................................27
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References......................................................................................................................................29
Appendix........................................................................................................................................33
Table of Figures
Figure 1..........................................................................................................................................23
Figure 2..........................................................................................................................................24
Figure 3..........................................................................................................................................25
Figure 4..........................................................................................................................................26
Figure 5..........................................................................................................................................27
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Introduction
Overview of ICC
International Convention Centre (ICC) based in Sydney acts as a large scale convention center
that has a seating capacity of 8,000 people. It has further facilities like a red carpet area and also
large number of exhibition halls. Further, ICC is located at a prime location near Darling Harbor
and caters to the needs of its customers through the use of a wireless facility (ICC, 2019).
Problem Statement
The operations of ICC Sydney are being potentially impacted by the growth in the level of
employee turnover where it is observed that the management is failing to retain the new recruits
over a period of 8-10 months. The same is requiring the firm to expend considerable number of
dollars for continually recruiting and training of people that affects the performance and profit
potential of the firm (Finnegan, 2015).
Research Aims
The aim of the research activity is to understand the factors that contribute to the growth of
employee turnover in ICC and the strategies and policies that can be undertaken by the
management for reducing the levels of employee turnover.
Research Objectives
To understand the concept of employee turnover
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To understand the factors that cause employee turnover in hospitality firms
To understand the policies that needs to be undertaken by ICC’s management for
reducing the growth of employee turnover.
Significance of the research
The significance of the research activity lies in uncovering the factors that contribute in the
growth of employee turnover in hospitality firms and thereby in discovering strategies that can
be employed for countering the impacts of employee turnover. The research would help in
enhancing and sustaining growth in performance potential of the hotel and also help in
augmenting the profitability position based on reducing the rate of employee turnover.
Literature Review
The case of employee turnover
In a study carried out by Miller (2017), the issue of employee turnover is identified as one of the
most significant and stringent cases that is required to be dealt with by the managers of a
business institution. Employee turnover is also observed to be a phenomenon that gains its
emergence either due to the voluntary exists on the part of employees owing to their access to
emerging market opportunities or the mass removal of employees from the firm due to changes
in human resources and operational policies. The growth in the level of employee turnover rates
associated to the organizations operating in emerging economies tends to broadly affect the level
of operations of such firms which in turn attracts managerial interventions (Miller, 2017). Again,
Finnegan (2015) highlighted on the emergence of employee turnover requires the firms to focus
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