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A study on employee retention strategies preface
A study on employee retention strategies preface
Employee retention theoretical framework
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In a society where job security is important one has to question why not put employees where they need be, in the places where they will be most successful, where business can benefit from a happy and energetic employee. Does the quote by Mr. Buffet make since? Being a member of the Armed Forces one would think that retention is a challenge. In my personal opinion I think it depends on the job/department, with using the lingo of the military, it depends on the AFSC (Air Force Specialty Code) in which you are assigned. I will take it one step further and state that it may depend on the branch of service and whether are not you are Active Duty, Guard, or Reserves. For example, members that may have to report to duty one weekend and …show more content…
If you ask 5 different leaders what employee retentions is you may come ups with 5 different responses. Employee retention first began to appear in the 1970s and 1980s. Before that time the relationship between employer and employee was very simple. “You come work for me, do a good job, conditions allow, I will continue to employee you.” (McKeown, 2002, pg. 4). Simple right? The practice of employment before the 1970s was that you entered into the job market and remained with one employer for the duration of your career. As time changed so did the job market, in the 1970s and later, as job mobility and voluntary job changes began to increase, employers found themselves with a new phenomenon to consider: employee turnover (McKeown, 2002, pg. 5). Employee retention became a management tool to counteract the rise of employee …show more content…
673), retention management must be based on three types of turnover, voluntary, discharged, and downsizing. Not all businesses are freighted by turnovers, for some it is the way of life and cost is built into the budget. However, for others any type of high turnover can be detrimental for company profit, employee wage and benefits offered. First, let’s take a look at voluntary and involuntary turnover that affects retention. Voluntary turnovers are caused by many different reasons. Turnover may result from topics such as job dissatisfaction, job mismatching, knowing that job opportunities are plentiful. Two reasons that I will discuss more are micromanagement and employee loyalty. Like stated before in the introduction, when employees are dissatisfied, possibly due to being placed in an area that doesn’t fit with their skill set, one is more likely to seek new employment. Another part of turnover is discharging and downsizing. Discharge is just that, members being discharged due to discipline and job performance. While downsizing turnover is a result of business being overstaffed (Heneman III, Judge, Kammeyer-Mueller, 2015, pg. 675). There are also other reasons for voluntarily employee turnover, such as generation differences when it relates to employment. The current generations are more likely to see a job as one piece in their life puzzle rather than as the first, indispensable anchor piece without
The purpose of this paper is to analyze a specific, hypothetical employment situation encountered and to include the information regarding employment conflicts, questions, grievances, lawsuits, etc., in terms of how the situation was handled or resolved. Employment conflicts are a constant issue everyday in any organization; it is how you handle them both legally and professionally that counts.
Based on what I learned in Chapter 10, interventions that I would make to reduce management turnover would be to include various and multiple strategies for promoting employee job satisfaction and commitment. What this means is that organizations today are concentrating on retaining good employees, so motivational techniques play a big part in an organization’s success. Turnover is time consuming and costly. I have never understood the purpose of the “revolving door” at some of the law firms that I have been employed other than a dysfunctional management. As Barry Schwartz stated, “society needs to be mentored by wise teachers.” (Ted2009).
Turnovers are the worst situation a business can face, after of course, a lost income. Harry Davis is looking different alternatives in which he can avoid or at least minimize MedEx’s turnovers rate. One of the best solutions to figure out the root of the cause that creates turnovers is conducting an employee survey. After conducting the survey, Harry finds out about several reasons why his employees were quitting their jobs at MedEx. “Turnover is one's propensity to depart the job that the individual is currently pursuing (Sondhi et al, 2008)”.(Anwar, Sidin, & Javed, 2017, p. 86).
Without understand the negative impacts of turnover, a company may be placing itself in a position that will ultimately lead to their demise. We are going to solve our problems and set our company on the path to success, a success that is not only reflected in our bottom line but also our employees’ morale.
We all have duties under the health and safety at work etc 1974 and we
Surveys indicate that the top three solutions to increasing retention are job satisfaction, the job assignment system, and pay incentives.6 Job satisfaction is directly linked to improved pay and job assignments. Hence, it is necessary to solve those issues first. Studies point to current inflexibility and lack of control over officer job assignments as a major source of frustration.7 Simulations of bonus and additional pay incentives slightly improved retention rates for mid-level officers.8 The civilian sector has identified pay and allowance retention bonuses to be insignificant since this does not tackle the root cause of retention.9 A survey of USAF officers indicated 72 percent of all officers were satisfied with pay which indicates this is a trivial factor for attrition.10 Therefore, in order to improve job satisfaction, the USAF needs to focus energy on enhancing the job assignment
There are several situations that had taken place with this individual sales manager. The events that will be discussed are from two female employees that encountered sexual harassment from this individual. The sexual harassment laws that protect the two female, what actions the company should have taken and how the situation should have been handled if it involved a union and so on.
Employee satisfaction, employee turnover, and workplace environment are inseparably linked. Workplace environments heavily influence employee satisfaction, which directly affects employee turnover rates. When employees feel they are not being supported within their first months of hire, they will inevitably leave the company. Employees want to have the security that if they need assistance, someone will be there to guide them. Therefore, it is imperative for organizations to develop a thorough onboarding program and a long-term retention plan.
Giving the fact, that more than 80 % of security breaches are provoked by current or former employees, every organization has to take appropriate measures to prevent, control, and counter such breaches. To prevent the employees of abusing the legitimate rights of accessing employer’s confidentiality and other sensitive information, relevant policies and procedures should be incorporated. There could be the three stage approach in reducing the personnel risks without infringing the rights: Pre-employment screening- this is the first stage of employment security procedures, which should be implemented. At this stage, it is vital to check employee’s past, obtaining references and relevant documentation from previous employments.
Introduction Canadian health and safety legislation requires companies and organizations to make a commitment towards occupational health and safety. Maintaining a safe workplace environment has numerous benefits. A safe work environment can boost employee morale, increase productivity, and improve job satisfaction. For companies and organizations, these benefits can lead to less turnover and increased employee retention. They can also reduce absenteeism while improving the culture and image of a company or organization.
Starting a business or company requires too many things like basic knowledge of the industry, funding sources, legal certification, etc along with capable employees or human resource. Ranging from SMEs to big corporate houses all need good employee to see their business growing. Good employees are the priceless assets of the company. Companies offer employee benefits in terms of health or life insurance policies as gratitude to the worker’s effort. Also it helps the business owners to attract new and productive workers.
Cardy, R.L. & Lengnick-Hall, M.L., 2011. Will they stay or Will They Go? Exploring a Customer-Oriented Approach To Employee Retention. Journal of Business & Psychology, 26, 213-217. Department of Management, University of Texas, San Antonio.
Several ways will be discussed and used as examples to provide a clearer understanding of the different innovative tools employers can retain their employees. According to (Fauth&McVerry 2008), the most critical issues facing organizations today is how to retain the employees they want to keep. Retention is the act of keeping someone or something (Merriam 2007). The understanding of this definition is the foundation employers will need to have to keep the good employees at their company. Employee retention is critical to the long term health and success of your business. Managers readily agree that retaining your best employees ensures customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning (Sinn 2000). In today’s workforce, there are four different generations of workers. It is important for mangers to know what and how to motivate each group and fulfill the employees need as well as the company. Employee retention is critically important for a societal reason, too. Over the next few years while Baby Boomers (age 40 to 58) retire, the upcoming Generation X population numbers 44 million people (ages 25-34), compared to 76 million Baby Boomers available for work. Researcher states: there are a lot fewer people available to work (Sinn
Employee satisfaction is undoubtedly the best predictor of employee retention. A job environment consisting of good working relationships usually fosters employee satisfaction. Employees feel motivated as they believe that the company is appreciating their service and commitment. Job satisfaction results in employee retention. Employee retention could be defined as the length of time employees stay with the organization.
Businesses are vulnerable to a variety of internal and external crimes that affects an organization’s performance. White-collar crime is a problem that cost American companies millions of dollars every day and negatively impacts the global economy in billions annually. This paper will identify the types of employee crimes, focusing on theft and the perpetrators; examine the impact to businesses and explore how business can deal with these offenses.