Impact of Staff Turnover on Business Performance

This assignment aims to investigate the impact of staff turnover on business performance, specifically focusing on Aviva Plc. A questionnaire will be used to collect data from selected respondents, and thematic analysis will be employed to analyze the results. The study will examine the relationship between employee turnover and business outcomes, providing insights into effective strategies for managing staff turnover.

Proposal

Table of Contents
TITLE .............................................................................................................................................1
INTRODUCTION ..........................................................................................................................1
Background of research ..............................................................................................................1
Review of the literature...............................................................................................................2
Purpose of the study....................................................................................................................3
Methodology...............................................................................................................................3
Data analysis...............................................................................................................................4
Gantt Chart or project plan..........................................................................................................4
.....................................................................................................................................................5
References and Bibliography...........................................................................................................7

TITLE
To identify the impact of Corporate Governance on business performance. A case study
on Aviva Plc.
INTRODUCTION
Background of research
Corporate governance introduce to the relationship between the various stakeholders for
an enterprises, and defining the performance and direction of the company (Formentini and
Taticchi, 2016). One of the main issue related to the corporate governance is staff turnover which
impact on business performance directly. For this proposal chosen organisation is Aviva Plc, it
is British multinational insurance company in London, United Kingdom. Recently, company
faced issue related to employees turnover which directly effects on its productivity as well as
performance also.
Aim: To investigate the issues of employees turnover on business performance. A case
study on Aviva Plc.
Objectives:
 To analysis the concept of corporate governance.
 To identify the main problem in corporate governance on organisation performance.
 To examine impact of employees turnover on performance of Aviva Plc? Recommend different ways through which Aviva Plc can easily maintain employees
turnover.
Questions:
 What are the concept of corporate governance?
 What are the main problem in corporate governance on organisation performance. What are the impact of employees turnover on performance of Aviva Plc?
Importance of corporate governance (Employees turnover) issue: Corporate governance
reflects the values of an organisation in a direct manner (Jacoby, 2018). Corporate governance is
set of mechanism which is used by manager in order to manage relationship among entire
stakeholders of Aviva Plc. And to determine and monitor the strategic performance and direction
of company. In order to maintain employee's turnover is essential for the company to enhance
their corporate image in the mind of society.
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Review of the literature
Literature review refer as a scholarly paper which includes actual information of the
topic. (Keyes, 2016). In this section of project, all research objectives and questions are address
which are determined as under:
Concept of corporate governance.
According to the JAMES CHEN., (2018),Corporate governance is identify as an effective
system of rules, process and practices by which an organisation is directed and controlled. It is
essentially or mainly involves balancing the relationship or interests of a business's many
stakeholders including, customers, management, employees, government, suppliers and the
community. Corporate governance is essential for the company by providing an effective
framework for attaining objectives and goals in given time period.
The main problem in corporate governance on organisation performance.
Avoiding conflicts of interest is identify as critical issue of corporate governance which
highly impact on organisation performance. A conflict of interest within the structure of
corporate governance happen when an officer or many other controlling member of an
organisation has other financial curiosity that straightly conflict with the aim of the business. For
instance, a board member of an enterprises who owns a essential amount of stock in a insurance
enterprises has a conflict of curiosity because, while the committee serves on represents the
improvement of clean energy, they have an individual financial stake in the growth of the
insurance industry.
Reason of employees turnover in Aviva Plc
Employees turnover introduce to the percentage or number of employees who leave an
enterprises and replaced by other employees. There are different reason of employees turnover
faced by Aviva Plc, some are determined as under:
Lack of communication: Inaccurate and improper communication about the tasks and
duties related to business arise employees turnover (Reasons for your High Employee Turnover
Problem, 2018). It will effect on productivity and performance level of staff member so that they
decide to leave an organisation.
Disconnect with managers: Ineffective relationship with the manager is also a main
reason of employees turnover. Need of each and every employees in the organisation is they feel
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comfortable and happy with the managers. Lack of connection with manager arise issue related
to employee turnover.
Different ways through which Aviva Plc can easily maintain employees turnover.
There are various ways to maintain employees turnover easily. Some ways are
determined as under and used by Aviva Plc:
Motivating employees: It is identify as best and important way used by the company to
maintain high turnover rate of employees and achieve better results within predetermined time
period. Company should try to provide salary according to employees skills and performance in
the organisation.
Collecting feedback: It is also identify as an essential way for maintaining employees
turnover. In this business manager should try to collect feedback from the employees about its
needs, changes in the job role and so on. Thus, all this will help in maintain rate of staff turnover.
Purpose of the study
Main purpose of this proposal is to identifying the impact of staff turnover on business
performance of Aviva Plc. Thus, it is a main problem which highly impact on productivity and
profitability of company.
Methodology
Primary method: For collecting proper data about the issue of staff turnover, researcher
will prepare a questionnaire which will help in identifying response of participants.
Secondary Method: It is another essential method of accumulating accurate information
from the customers (Rothaermel, 2015). There are different sources of secondary method such as
books, publication research, articles and many other.
Therefore both methods are useful but according to the topic primary method is used
because it help in accumulating accurate data from the selected sample size about the topic.
Sampling method: For selecting sample size, there are two method namely random and
non-random. In case of random-sampling, it is a technique where researcher choose a group of
sample for research from a population. On the other hand, non-random sampling, it is essential
techniques used by investigator to gathered sample in a process that not provide all the persons in
the population equal opportunities of being chosen. For this research, convenience sampling
method used as a type of non-random method and selected respondents are 40.
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Data analysis
Data analysis will be completed or done with the use of thematic analysis method. It is
effective method for the researcher because in this they made themes on every questions. Thus, it
will help in accumulating proper data or information about the issue of employees turnover from
the selected respondents (Zhu and Chen, 2015).
Gantt Chart or project plan
Gantt Chart is identify as an effective tool of analysing time period related to starting and
ending each activities of research in appropriate manner.
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References and Bibliography
Formentini, M. and Taticchi, P., 2016. Corporate sustainability approaches and governance
mechanisms in sustainable supply chain management. Journal of Cleaner Production.
112. pp.1920-1933.
Jacoby, S. M., 2018. The embedded corporation: Corporate governance and employment
relations in Japan and the United States. Princeton University Press.
Keyes, J., 2016. Implementing the IT balanced scorecard: Aligning IT with corporate strategy.
Auerbach Publications.
Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education,.
Zhu, D. H. and Chen, G., 2015. CEO narcissism and the impact of prior board experience on
corporate strategy. Administrative Science Quarterly. 60(1). pp.31-65.
Online
JAMES CHEN., (2018). Corporate Governance. [Online]. Available
through:<https://www.investopedia.com/terms/c/corporategovernance.asp>.
Kimberlee Leonard., (2018). The Effects of High Turnover in Companies. [Online]. Available
through:<https://smallbusiness.chron.com/effects-high-turnover-companies-
16572.html>.
Reasons for your High Employee Turnover Problem. 2018. [Online]. Available
through:<https://www.ziprecruiter.com/blog/5-reasons-for-your-high-employee-
turnover-problem/>.
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