Business Management Essay: Addressing Employee Turnover Challenges

This essay examines the persistent challenge of employee turnover in organizations. It emphasizes the financial and operational costs associated with losing skilled employees. The essay proposes several strategies to mitigate this issue, including the importance of hiring individuals whose values align with the organizational culture, offering competitive compensation and benefits to attract and retain talent, and implementing flexible work schedules to improve work-life balance. The essay underscores that while complete elimination of employee turnover is unrealistic, strategic approaches can significantly reduce its impact and enhance organizational stability and growth. The essay uses sources to support the arguments and provide a detailed analysis of the topic.

Running head: BUSINESS MANAGEMENT 1
Business Management
Student Name
Institution Affiliation

BUSINESS MANAGEMENT 2
Business Management
Employee turnover is a challenge experienced by almost every organization with skilled
and experienced employees. When employees go, it costs the organization in terms of time and
money hiring new employees, (Zimmerman, Swider, and Boswell, 2019). Also, talent and
experience are lost, especially in organizations where there is a high degree of work
specialization. This essay provides alternatives that can be used to solve this challenge in
organizations.
High employee turnover has to be reduced for an organization to survive and develop in
the contemporary competitive and dynamic business environment. There are several ways in
which high turnover can be reduced. The first way to reduce turnover is to hire the right people;
this is the first step to retain employees. Organizations mostly higher employees with strong
skills that match the vacant positions but they ignore the business culture aspect, (Hom, Shaw
and Hausknecht, 2017). Organizations should hire employees whose skills are supported with
cultural and behavioral values that are aligned to the organizational culture. This can be done by
incorporating behavioral interview questions and also communicating the workplace culture to
them. This will create employees that fit in the organization, making it hard for them to quit.
The second alternative is to offer competitive pay and benefits since every employee
always wants proper compensation for their work. The employees have their necessary expenses
and bills that need to be settled, such as food, utilities, and housing. If employees are not paid
well, they will look for other organizations that pay well, thus contributing to the high turnover.
Organizations should do comprehensive research on the competitive salary range in a given job
so as settle on compensation that will be reasonable, and the employee will be contented. Also,
organizations should ensure they pay their employees in time as agreed in the employment
agreements to prevent unnecessary financial strain on the side of the employee. If employees feel
they are well compensated they won't go looking for greener pastures.
The other alternative is to allow flexible work schedule. If the nature of the organization
permits, the organization should let their employees adjust their location and work time. A
flexible schedule will enable employees to have an excellent work-life balance, (Zhang, (2016).
They can engage in other activities as long as it does not interfere with their productivity in the
organization. Flexible work schedule may not be applicable in some organizations, but whenever
it is possible, it should be encouraged since it contributes to employee satisfaction. It creates self-
motivation and focuses, leading to good productivity. In summary, employee turnover will
always be there in any organization. Employee turnover cannot be eliminated, but it can be
reduced using the above alternatives and many more.

BUSINESS MANAGEMENT 3
References
Hom, P. W., Lee, T. W., Shaw, J. D., & Hausknecht, J. P. (2017). One hundred years of
employee turnover theory and research. Journal of Applied Psychology, 102(3), 530.
Zhang, Y. (2016). A review of employee turnover influence factor and countermeasure. Journal
of Human Resource and Sustainability Studies, 4(02), 85.
Zimmerman, R. D., Swider, B. W., & Boswell, W. R. (2019). Synthesizing content models of
employee turnover. Human Resource Management, 58(1), 99-114.