Reducing employee turnover and keeping valuable employees from leaving, human resource professionals face this challenge daily. Reviewing various aspects of organization and taking appropriate action will help company's reducing unwanted turnover. We implement proven strategies: MANAGING TURNOVER THROUGH SELECTION, COMMUNICATION, and MOTIVATION. While this process requires time and effort, it will save the organization time, effort, and money in the long run. The result of this process is improved organizational performance, productivity, and profit.
Key words: Turnover, Select, Communication, and Motivation
Reducing Turnover And Keeping The Best
Once we have hired great employees, we want to keep them for a while. But, in today's highly competitive marketplace, employee turnover and employer keeping the valued employees were major problems in economy activities. I believe that today's employees are demanding more flexibility, more autonomy, and more recognition of individual differences. The average turnover rate in the North America hovered at 20 percent.
(See figure 1) The costs associated with turnover can be high--generally 25 percent of the individual's annual salary. There are direct and indirect costs associated with employee turnover. Direct costs include the time involved in recruitment, selection, and training of new personnel as well as the costs associated with advertising expenses and manpower. Indirect costs include the increased workloads as coworkers pick up the slack until new employees are hired and trained as well as the decreased productivity associated with low employee morale. Turnover costs for many organizations are unacceptably high. Not only is it difficult to find good employees, but also employees are often difficult to replace. The task of keeping good employees is made more difficult due to employees are less than they used. At the same time, attracting candidates is difficult because highly professional employees are in short supply.
Empirical data - turnover...