The High Turnover of Consultants Research Paper 2022

Running head: THE HIGH TURNOVER OF CONSULTANTS
The high turnover of consultants
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THE HIGH TURNOVER OF CONSULTANTS1
Executive Summary
The paper is based on the increase in the turnover of the XYZ Company. Tim
was establishing the company in the year 1990. It is a medium-sized company and
had moderate competition in the market. Due to some health issues, Tim had to
resign from the company and hand over the responsibilities to his daughter. There
increased an employee turnover rate in the period while Fiona was running the
company. Due to the lack of employee engagement and lack of pre-planning of the
working schedule, there increased the employee turnover of the company.

THE HIGH TURNOVER OF CONSULTANTS2
Table of Contents
Introduction...................................................................................................................3
Discussion....................................................................................................................4
Conclusion..................................................................................................................10
Reference list..............................................................................................................12

THE HIGH TURNOVER OF CONSULTANTS3
Introduction
The accounting concept that calculates how fast an employee of the
organization resigns or leaves the company. Turnover is defined as the percentage
of employees that have been or will be leaving the company in a month or a year, in
an industry or company. In simple words, as defined in the Companies Act, 2013
turnover is the number of workers or trainees resigning the company in a year of
joining or after that is the employee turnover. The working of the organization
depends on employee turnover (Hom, Lee, Shaw and Hausknecht 2017). Employee
turnover has a diverse effect on the profit or the revenue of an organization. There
can be various reasons for employee turnover such as job satisfaction, salary
satisfaction, workplace environment or workload. Employee turnover makes a drastic
change in the turnover cycle. The entire working of the organization depends on the
employee turnover of the organization. Companies with high revenue hardly have
issues with employee turnover.
Tim Redkin founded the XYZ Company in the mid-1990s. He and his daughter
Fiona have been running a successful medium-sized business with high revenue.
Tim has had adopted an open management style. This encouraged talking about the
issues openly to the managers and find a solution. However, he was suddenly
diagnosed with a serious heart condition, which made XYZ handed over to his
daughter Fiona. She had then decided to introduce a written legislative of the
company to increase the working of the company (Han, Bonn and Cho 2016).
However, it leads to an increase in employee turnover.
Discussion
Apply employee engagement theory to identify and discuss the motivational
elements that existed in the old organizational environment and which
elements were removed in the new environment under Fiona's leadership.
Employee engagement is the strategy that an organization plans to achieve the
goals, aims or objectives of the company by motivating the employees to obtain
maximum benefit from the employees. The employee engagement encourages
employees to give their hundred percent for the job. The employment engagement
theory has to be planned in a way that helps in achieving the objectives along with
providing job satisfaction to the employees (Nica 2016). According to the theory,