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Small Business Management - Three Easy Ways to Curb the High Cost of Employee Turnover - Essay Example

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This paper "Small Business Management - Three Easy Ways to Curb the High Cost of Employee Turnover" focuses on the fact that small companies do face some major challenges that may push the mover the line of failure and solutions to save a drowning company are many. …
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Small Business Management - Three Easy Ways to Curb the High Cost of Employee Turnover
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The bankruptcy indicates the presence of a problem. This can be caused by many irrelevant divisions that are milking the company’s funds, high employee turnover rate due to polices employed by the company that leave the employees unhappy. These problems are all caused by having unmotivated employees who will jump, at any chance, to leave the company. In addition, the major fact that supports this is the high employee turnover rate (Robertson 316).

Solutions include the downsizing of staff to reduce company expenses, closing down irrelevant divisions that are not performing well, consolidating positions and restructuring the staff (Robertson 316).

All the above-stated solutions are all solutions that can save a company at the edge of closure, but the best solution is that which includes increasing the motivation of the workers since they are the simple factors that can make or break a company. (Robertson 317)

The C.E.O of Intermatic Inc. Miller proved beyond a reasonable doubt that a company may employ many tactics to save itself from failure, but the only best solution is to make the employees happy and comfortable and that will lead to success, and profitability of the company.

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