Employee Turnover

Identifying employee satisfaction level can help to retain staff.   Job satisfaction is simply how people feel about their jobs and different aspects of their jobs. It is the extent to which people like (satisfaction) or dislike (dissatisfaction) their jobs (Spector, 1997 cited in Khan S. S. 2015). Further, job satisfaction is the amount of pleasure or contentment associated with a job. If you like your job intensely, you will experience high job satisfaction. If you dislike your job intensely, you will experience job dissatisfaction (Locke,1976 cited in Khan S. S. 2015). There are different ways to identify employee satisfaction level. Here below explained few points.  ( Nevogt, 2020). Conducting employee satisfaction survey.  ( Nevogt, 2020).  This way is the most common way of identifying employee satisfaction level. With the survey results company can identify what staff like and dislike. Companies can add more areas like Leadership of CEO / Leadership of senior ...

Proper Training & Development program helps to motivate staff to stay with the company.  Many companies are struggling to survive and are concentrating on developing efficiency at all levels of the company and retaining staff with the company. This has triggered the need to build a high quality and multi skilled work force which is highly predictive, efficient, and adoptable to change. Due to this reason, most companies are realizing the importance of training and development as a part of company plans. (IPM, 2010). Oluwaseun (2018) said that investing in training and development enables employees feel more connected, valued, accountable, focused, and part of the team. Further it has been proven to increase employees’ sense of loyalty and decrease turnover. ‘Training and development are the processes of investing in people so that they are equipped to perform well and are part of an overall human resource management approach that hopefully will result in people being moti...

How Employee Benefit program effects employee turnover.  It is said that benefits are the second most important factor employee consider after salary or wage. It is important that company does have a proper benefit program which helps to hire talented staff and retain staff.  (IPM, 2010). When I was handling HR with my previous employer, I have experience that during the final interview most of candidates are asking about benefits do they have once joined. And then they start comparing existing benefits do they have with current employer. If there is less benefits, then candidates would think twice whether to join or not. According to Klonoski (2016), Staff consider as benefits as indirect forms of compensation, something given in addition to base compensation and not related to doing extra work, accomplishing certain goals, or working non-standards hours. Pension scheme, Insurance scheme, special leaves, Flexible working hours, Bonus, Medical Allowances, Transport Allowance...

  Good Health & Safety process helps to retain staff. According to Ahmed & Waqas (2017), ‘Injuries that occur during work have long term consequences and these can be the symbol of cost in social and economic terms to worker, employers, company, and the government as well. It is identified that ‘in US 2007 5488 workers died from occupational injuries among 92% were men’. Due to limited resources, less knowledge and skills, companies fail to priority health and safety measures. This in return, companies need to bear cost for poor performance and high employee turnover. (Ward et al, 2008 cited in Ahmed & Waqas, 2017). It is identified that any form of job is faced with certain amount of risk. Therefore, it is so important that companies are aware of causation of accidents.  (IPM, 2010)  Below figure 3.0 explains that accidents can cause due to combination of unsafe acts and unsafe work environment.  Figure 3.0 Causation of Accidents by CCHRM Study Pa...

Rewarding performance and it’s impact to employee turnover. Rewards refer to all forms of financial returns and tangible services and benefit an employee receives as part of an employment relationship (Edirisooriya, 2018).  Employees will be well motivated and perform well if they are rewarded. There is a direct relationship between rewards and employee performance. If the employees are rewarded, then the employee performance will be increased. In this way employee think that they are being valued. (IPM, 2010). A reward system consists with financial rewards, other benefits as well as non-financial rewards such as recognition, responsibility career prospects etc. The total reward system consists with mix of financial rewards, employee benefits and non- financial rewards (Armstrong, 2002 cited in Mendis, 2017). According to the above definition the below figure shown how the total reward system can be illustrated. Figure 1.0 Components of Total Reward System, Mendis, 2017. ...

Compensation plan & impact to the employee turnover According to Bryant & Allen (2013) ‘when we ask our clients why people quit jobs, pay is almost always the first or second reason provided.  People do quit because they are unhappy with their pay. Also true is that people often quit to take higher paying jobs elsewhere’. According to Palmer, 2006 cited in Bhatt & Sharma (2019), the employees of today know about how much they are worth and tend to walk away from the negotiating table if they feel that the pay which is being offered to them is not good enough. It is said that Compensation is directly linked to an employee’s livehood. Employees can receive stellar training, good career growth and be fully satisfied with their work and the environment but they will not show up to work if there is no paycheck in return. Therefore, below strategies can perform by any company to have a good compensation plan which help to reduce employee turnover. (Bohlander & Snell, ...

Employee Turnover and Impact to the company Employee Turnover has more definitions which explained by many authors, but all the way ‘it is the rotation of workers around the labor market; between firms, jobs and occupations; and between the states of employment and unemployment’ (Abassi et al. 2000 cited in Ongori,2017, p.049) . There are two types of Employee Turnover which can be happened in an organization. (Ongori, 2017). Voluntary Turnover occurs when an employee decides to leave the company for a personal reason. These personal reasons can be  (Ongori, 2017). Obtaining a better job with good career development Company culture change Bad Supervision Bad Management decision making. Low salary Poor working condition / benefits etc. Involuntary Turnover occurs when management decides to terminate an employee due to economic necessity or a poor fit  (Ongori, 2017). Today, most of companies are facing this situation which is losing staff due to many reas...

  HR planning strategies and it’s impact to employee turnover. HR Planning is referred to as Manpower planning has been defined as the process of getting the right number of qualified people to the right job at the right time (IPM, 2010). The long-term success of any organization ultimately depends on having the right people in the right jobs at the right time. (IPM, 2010). When hiring the best talented staff, it is so important that you follow best strategies to collect best fits among job markets. (IPM, 2010). According to Snell & Bohalnder (2012), following strategies were identified which any organization can use when hiring right candidates. Recruiting Internally – Internal Candidates are readily available, get up to speed faster and there is less uncertainty about how they will perform (Snell & Bohalnder 2012). Internal Job posting - Posting vacancy advertisement as an internal notice or publishing on their intranet sites (Snell & Bohalnder 2012). Ident...