Introduction: The success or failure of any organization is primarily depends on its employees. All the HR managers are always having the concern about the employee’s intention towards the organization. Because if suppose the employees are having intention to quit their jobs will be a costly one to the companies which will lead to the cost of recruitment and selection, cost involved in training and development, more than the loss of knowledgeable employee who got experience while his job is critical. The role of HR manager is therefore very critical in maintaining the selected, well trained employees in the organization for longer periods. So retaining this invaluable ‘asset’ of the company is now becoming a most crucial function of all HR functionaries.
Many employers are trying to reduce employee turnover with quick fixes, gimmicks, games, and prizes that just don't work. Organizations are finding that the solutions are more about how you treat employees than tangible items that are given to them. Also, the concept of employee loyalty diminished as employees realized that doing a good job and being loyal to an employer no longer mattered. True solutions require a change in management's attitudes and behaviors toward employees. The ultimate strategy to reduce the costs of turnover and high recruitment is to manage for retention.
The issue at stake is being able to break the cycle of failure. Most companies that provide services tolerate a high turnover and expect employee dissatisfaction (Schlesinger, Heskett, 1991). The managers need to be able to change the work environment and turn things around. If the employees are dissatisfied, it is up to management to assess that and come up with new strategies to bring about employee satisfaction. Companies need winners at the front line, not just warm bodies.
On the other hand, given the fact that only one manager will remain employed we will have to put a lot more work on the rest of our employees. This will make employees unhappy and create more problems for our company in the future. For example, we will have to spend money training new employees and give more compensation to employees for working longer days. Employee Concerns As owners we are in charge of the management responsibilities, we think that it’s important to acknowledge the concerns of the employees and look at the situation from their point of view. We have noticed that thei... ... middle of paper ... ...we will be retaining both of our managers, we will not be hiring any more part-time employees.
Excessive turnover in an organization is a prime indicator that something is not right in the employee environment. We will look at the differences between retention and turnover, why employees stay, reasons why they leave, and what can be done to save them. We will also examine some external factors that will make employee retention and turnover reduction highest priorities for human resource professionals. Basically, employee retention is measured by an employee's longevity with a company, and is the desired outcome of a company hiring workers it wants and needs. Many organizations find it more productive and profitable to redirect resources formerly allocated to recruiting, hiring, orienting, and training of new employees and use them instead toward employee retention programs.
As a machine operator aware of this notion that relinquishing this information could cost him/her their job, there needs to be some cause for hesitation. The workers are paid on an hourly base so the increase of efficiency will also allow management the ability to cut hours, which will also hurt the workers. If faced with this dilemma I would have to first find out if the solution the breaking dies were legit.
Industry or global shut downs, cost cutting, and spin offs are just a few reasons why employees are laid off. Fallon and McConnell (2007) argue that companies conduct layoffs primarily due to economic issues. Today, many organizations are being forced to reduce their workforce due to these factors. However, before layoffs occur in organizations, there are numerous steps that have to be taken to ensure effectiveness in the process. The selection criteria are the most important aspects of organizations’ initial decision to conduct workforce reduction.
Turnover not only affects the bottom line but also affects the company’s morale. We are analyzing the problems within our company that are causing our employees to become unsatisfied with their job. Then we are going to find solutions. And then do the cost estimates of the turnover costs and the turnover savings after our solutions are implemented. Without understand the negative impacts of turnover, a company may be placing itself in a position that will ultimately lead to their demise.
High rate of employee turnover is a warning to the management that something is wrong in the policies of the organization. Socially and ethically it is justified for the organizations to intervene into the reasons of employee switchover and try to retain its employees because of several reasons. Employees leave the workplace for professional development or due to some personal issues and sometimes even for the sake of change. In each situation the reasons need to be noticed, to be taken care of and organization needs to take it as a social and ethical responsibility to retain the employees. In due course of time it is likely to get adaptable to the working conditions of organization, people feel comfort zone in the area and they get used to the setup of th... ... middle of paper ... ...ilosophy of life and evolved your own art of living.
If employees are developed to be invested in the company, it will succeed. If not, it will tie you down – and you may not even realize it. When businesses but the needs of clients and customers in front of their employees, everything suffers. It starts with picking and developing the right people and then progresses to promoting the right people. Each of these actions are huge and determine your companies immediate future.