What is the Major Cause of Employee Turnover?
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Globally, employee turnover is one of the greatest challenge affecting business organizations. It is worth noting that there is no organization that is immune to employee turnover be it big or small. Important to note is that it is impossible for an organization to completely wipe out employee turnover but it can be reduced to the barest minimum. Most of the studies conducted have focused on the causes of employee turnover without looking at its remedies. This study aimed at examining the causes, consequences and prevention of employee turnover.
Employee turnover refers to the rate at which employees leave an organization, either voluntarily or involuntarily. It can be a measure of employee satisfaction and engagement, as well as the quality of work environment and culture. Employee turnover can also reveal the challenges and opportunities that employees face in different roles or departments within the organization. A high employee turnover rate can have negative impacts on productivity, performance, morale, and retention.
There are quite a number of the causes of employee turnover among which include; poor work environment, poor compensation packages, Inconsistent management styles, no career advancement, Low salaries, Poor company culture and conflicts between staff and managers among so many others. These factors can result in reduced motivation, commitment and loyalty among employees, who may decide to leave the organisation for better alternatives.
This study further indicates the effects of employee turnover in an organisation among which include; lower productivity, higher recruitment expenses, loss of customers, loss of revenue and more. Therefore, it is important for organisations to implement strategies that can prevent or reduce employee turnover. Some of these strategies are: improving the work environment, offering competitive compensation packages, adopting fair and transparent management styles, providing career development opportunities, increasing salaries, enhancing organizational culture and fostering positive relationships between team members and management.
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What is the Major Cause of Employee Turnover? a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Identify the main factors that contribute to employee turnover in different contexts and industries.
- Analyze the costs and benefits of employee turnover for both employers and employees.
- Apply strategies and best practices to reduce employee turnover and increase employee retention and engagement.
1.0 INTRODUCTION
The success and achievement of any organization depends on the quality and quantity of its workforce (Borthwick, 2011). In a global economy that is increasingly driven by knowledge, information, and high-level skills, human capital will become more and more important for business organizations around the world. Ideally, every organization wants to retain its employees and ensure they are productive and satisfied with their work until retirement. However, this is not always the case in reality. Employees may decide to quit their jobs due to personal, professional, or organizational factors. This affects the performance and stability of the organization and its workforce.
The concept of employee turnover
Employee turnover refers to the rate at which employees leave an organization. Kazi and Zedah (2011) describe employee turnover as the regular change of employees around the employment market among organizations, professions, and careers; and between the conditions of full employment and that of being without a job.
Employee turnover can also be defined as a measure of the number of employees leaving and being replaced within a particular period, usually a year, expressed as a percentage of the total labor force at the beginning of the period (Abbasi & Hollman, 2000; Adeniji, 2009).
For the purpose of the current study, the concept of employee turnover can be defined as a measurement of the length of time an organization’s employees stay in the workforce of the organization and how frequently the organization has to replace its workforce. Anytime an employee leaves the workforce of any business organization, the reasons for leaving notwithstanding, and such employee is being replaced, it is referred to as labor turnover.
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