Contact Us
Sign In / Sign Up for FREE
Go to advanced search...
Nobody downloaded yet

Employee Retention - Assignment Example

Comments (0) Cite this document
This assignment "Employee Retention" discusses the causes and consequences of employee turnover and strategies that can be used to improve employee retention. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.8% of users find it useful
Employee Retention
Read TextPreview

Extract of sample "Employee Retention"

Download file to see previous pages The importance of keeping a low turnover is that employee turnover raises costs and reduces productivity. Employee turnover is categorized into different types or causes to be able to determine the root of the problem. Some of the causes are retirement, firing, contractual issues, illness and voluntary. Things such an illness are events that can not be prevented, but when a company has many people leaving voluntarily then something is driving people out of an organization and the issue must be dealt with. A research study performed by the Chartered Institute of Personnel and Development revealed that in Great Britain in 2007 the average employee turnover rate of domestic firms was 17.3% (Cipd, 2008).
An employee may voluntarily leave a firm for numerous reasons, but some of the most common ones are low wages, poor benefits package, limited professional growth opportunities, physically or emotionally harming working environment, and a lack of non-financial rewards. Leaving a company sometimes is not about money, it’s about respect. In the National Basketball Association the Los Angeles Clippers this off-season offered its star power forward Elton Brand the best monetary deal he gets land, but the player left to sign for Atlanta because he felt the Clippers did not appreciate his efforts of the past. In this case the salary figures were enormous regardless of his choice the man was rich, but the case shows that it is in the human nature of people to desire a workplace where they feel comfortable and appreciated by their colleagues. Of the bond of trust that is broken between the firm and employees it is more likely that the employees will more be tempted to leave the company for a different work opportunity.
The financial costs of the company associated with employee turnover start with the initial recruiting costs, training costs, and management. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Employee Retention Assignment Example | Topics and Well Written Essays - 1500 words, n.d.)
Employee Retention Assignment Example | Topics and Well Written Essays - 1500 words.
(Employee Retention Assignment Example | Topics and Well Written Essays - 1500 Words)
Employee Retention Assignment Example | Topics and Well Written Essays - 1500 Words.
“Employee Retention Assignment Example | Topics and Well Written Essays - 1500 Words”.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Employee retention and development

...? Human Resource Management: Employee Retention and Development Introduction Manpower shortage, especially skilled manpower shortage is a major problem in western countries like America, Britain, Germany, Australia etc. Organizations in these countries are outsourcing most of the jobs to cheap labour oriented Asian countries in order to compete effectively in the extremely globalized international market. The demand for skilled workers is huge in these countries and organizations are ready to provide any facilities to employees in these countries. However, it is difficult for organizations in these countries to retain their existing employees because of the attractive offers these employees are receiving from other organizations. Employee...
12 Pages(3000 words)Essay

Employee retention using lessons from motivation theories

...? Employee retention using lessons from motivation theories School Executive summary The tough global economy has had a devastating effect on the labour market. Whereas many companies have been forced to lay off staff, the shortage of talented individuals needed to lead firms through this tough period has meant that retention of critical staff has become challenging. The human capital theory posits that not all labour is equal and therefore it is in the best interest of an organization to retain its high-impact employees. This paper begins by explaining the importance of retaining critical staff. It then proposes that employee retention is largely determined by motivation and as such warrants a review of motivation theories. The motivation...
9 Pages(2250 words)Essay

The Importance of Employee Retention which the newly hired employees voluntarily terminated employment. The relationship between the employees’ job performance and their retention also varied significantly with organizational culture values.” (Sheridan, 1992, p. 1036) Now when the subject of organizational, or more precisely, corporate culture is included in discussing the issue of employee retention, multidimensional analysis becomes imperative. This essay is a literature research based analysis of the issue of employee retention in the global work environment. Sources from scholarly publishers have been utilized and works of reputed experts in the...
5 Pages(1250 words)Term Paper

Organizational Justice Is Vital to Employee Retention

...Running Head: Organizational Justice Organizational Justice is Vital to Employee Retention (school Perceived justice of an organization is central to the retention of quality employees. If there is no established trust or justice, employees will engage in an "us against them" mentality that is detrimental to their satisfaction and ultimately production at work. Therefore, it is important to measure perceptions of justice. There are three types of organizational justice, procedural, distributive, and interactional. It is the goal of this paper to attempt to explain the perceptions of organizational justice and offer solutions to the management of organizations in order to better exhibit justice in their organization. Organizational...
8 Pages(2000 words)Term Paper

Employee Retention in the United Kingdom

...employees will usually have good attendance records, demonstrate a willing adherence to company policies, and have lower turnover rates. In particular, their broader base of job knowledge often translates into loyal customers and even pay premium price. Employee retention is an issue since the turnover levels from various industries are rising. Statistics show different percentages related to turnover rates as well as the reasons for the increasing turnover. "Turnover levels vary very considerably from industry to industry. The highest levels of turnover (22.6%) are found in private sector organisations. Successive surveys of labour turnover show that the highest levelsare found in...
14 Pages(3500 words)Case Study

Employee retention

...Employee Retention: In a slowed economy, it is imperative that organizations consciously work to retain employees. The cost associated with retraining new employees can prove astronomical. Not only do retaining the best and brightest staff gives a company the competitive advantage it can boost morale and overall productivity. Management should make it a priority to make employees feel valuable and create an all inclusive atmosphere. To reduce the costs of high turnover, effective human resource managers should implement strategies to retain employees and thoroughly assess the reasons for departure. One of the first things a company can implement to retain employees is to offer benefits both tangible and intangible. According...
7 Pages(1750 words)Essay

Managing Employee Retention and Absenteeism

...added pressure on the employees to perform at their best all the times but they also have greater opportunities. Therefore, if an organization cannot understand what the employees want it will not be able to effectively manage them and extract maximum output. There are numerous challenges and issues that the human resource professionals encounter. The various issues that crop up with respect to human resource management are job design job flexibility, psychological disorders related to work, performance management, employee’s wellness and work life balance, employee retention, absenteeism, etc. Most of these are interrelated and affect each other. This...
7 Pages(1750 words)Essay

Employee retention/motivation

...this is a source of income for their livelihood, they have aspirations to do far better in their career after completing their education. The employees therefore, have not got themselves aligned with the goals of the fast food company that they are working for. Thus lack of motivation and attractions of a better opportunity would not take them much to leave. From the organizational perspective, this could be a concern of loosing trained employees for which the need of employee retention would arise. Cost of employee retention The fast food entity would need to bear the cost of employee retention. The...
2 Pages(500 words)Assignment

High Employee Retention

...The level of attractiveness of an organization not only influences its endorsement of employees but also encourages high employee retention (Felps et al., 2009). As a person, two important attributes that makes an organization attractive to me are motivation and engagement. As far as motivation is concerned, I first look at intrinsic motivation which defines how the organization can help me develop an inner spirit towards work. When it comes to engagement, I love to be part of an organization where I can be given room to utilize my talent and potentials through detailed employee engagement. In the general workforce, the two mentioned attributes can be said to be highly applicable to recruiting talent. This is because in a well motivated...
1 Pages(250 words)Essay

Employee Retention

...EMPLOYEE RETENTION - SPECIFICALLY, THE POSITIVE ROLE LEARNING AND DEVELOPMENT PROGRAMS HAVE HAD ON DECREASING TURNOVER. EXECUTIVE SUMMARY Human capital management is a growing challenge for HR department of every business, irrespective of size, place and domain. Also with economic down turn firms have become more considerate to reduce cost; this in turn has resulted in firms’ increased attention to retain employees. For the purpose, various retention strategies are aggressively being adopted worldwide. Retention of employees, which in turn results in reduced employee turnover, brings benefits to the firm far beyond than just direct monetary cost. Employees have also raised their demand for compensation which includes both financial...
10 Pages(2500 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Employee Retention for FREE!

Contact Us