Formal Report of Employee Turnover Rates and Retention
M-1Global, Inc.
Prepared for:
Upper and Middle Management, All Departments and Employees
Prepared by:
Greg Dingas/Human Resource Assistant
M-1 Global, Inc.
August 24, 2014
MEMO
TO: Ann Bell, Human Resource Manager
FROM: Gregory Dingas, Human Resource Assistant
SUBJECT: Report on Employee Turnover Rates and Retention
As you requested, I have examined and researched employee turnover rates and retention at M-1Global, Inc. The purpose of this report is to make recommendations to management within the organization to hire and retain good employees in order to combat the high employee turnover rate.
In order to provide quality information and feedback for this report 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.
Also, we will examine and discuss the five factors that have a proven positive impact on retention and they should be taken into consideration when developing an employee retention program.
I enjoyed working on this report due to the potential impact that can be made towards the retention and turnover rates at M-1Global, Inc. Please call me if you would like additional details about the report.
Table of Contents
EXECUTIVE SUMMARYâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.. 5
INTRODUCTIONâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦................. 6
Project Descriptionâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦ â¦â¦â¦â¦â¦... 6
Scope of Studyâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.. 6
Report Purposeâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.. 6
DISCUSSIONâ¦â¦â¦â¦â¦â¦â¦..â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦. 7
CONCLUSIONâ¦â¦â¦.â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦ 13
RECOMMENDATIONâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.13
REFERENCESâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦..14
Illustrations
Table 1â¦â¦â¦â¦â¦...â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦............11
Executive Summary
With quit rates the lowest they've been in decades, HR professionals might gain a false sense of confidence that retention programs are right on target. Experts warn, however, that employees' "loyalty" may be driven more...