Reasons of Voluntary Turnover
Branham (2005) Explains that, there are two specific
periods in employee’s thought process before they consider exiting the organization.
The first period is the time between intention of leaving occur on the employee
and the making the following decision to exit due to disappointment of possible
circumstances.
The second period is from the time of decision
making to leave and the actual leaving. When the employee is in this period
there is no possibility to change them so if management is sensitive of
avoiding the employees leaving, better take the preventing actions once get the
sign of starting employees disengage with the work and the organization.
Furthermore, Branham (2005) suggested that there are
seven main reasons why employees leave an organization as below.
(Source: Branham, 2005)
The Factors affecting retention
According to Armstrong (2010) the employee Retention or causes of employee leaving base on the understanding of the factors which affect whether employee stay or leave. When consider by their age range, for early career employees (who is in age-30 or below) the career enhancement is more precious. Their attempts of changing the job are more than others. For the Mid career employees (age 31-50) to manage their careers and satisfaction within the workplace itself is more important. Late career employees (over 50) are more interested in the terms of security.
Apart of that Armstrong (2010) describes the other major factors which affect for Employee retention can be listed as below.
(Source: Armstrong, 2010).
Armstrong, M. (2010) Armstrong’s essential
human resource management practice. 1st publish. London, Kogan Page.
Branham, L. (2005) The 7 hidden reasons employees
leave: How to recognize the subtle signs and act before it’s too late. Sound view Executive Book Summaries,
27(6), pp.1-8.
According to Jordan (2017), when it comes to employee retention, there are 8 essential employee retention factors modern employees ignore. They are; work schedule flexibility, health and wellness benefits, top performer recognition and rewards, personal development, compensation, work life balance, management and leadership teams, and on boarding, training.
ReplyDeleteReferences
Jordan, L. (2017) Rise People. 8 Essential Employee Retention Factors Modern Employers Ignore [Online].Available at https://risepeople.com/blog/employee-retention-factors/. Accessed on 4th of April 2019.
Sound strategies to be implemented to retain employees in an organization. Which shall address (1)recruit suitable employees (2) effective leadership (3)Training and development (4)Address economic issues (5)Improve job satisfaction (6)Unionization (7)Organization culture (8)Balancing work and family life (9)Retaining valuable employees (Mamun & Hasan, 2017)
ReplyDeleteReference:
Mamun, C. A. A. and Hasan, N. (2017) Factors Affecting Employee Turnover and Sound Retention Strategies in Business Organization: A Conceptual View, Problems and Perspectives in Management, 15(1), pp. 63–69.
Thank you Asela for your valid comment. Effective employee retention is systematic effort by organization to build and foster an environment that encourage existing employees to remain employed by implementing policies and practices in place by address their diverse needs. Apart of those strategies you highlighted the Respect, Recognize and Reward also key strategies which cause to keep employees in highly satisfied. (Balaji and Ananda, 2017)
DeleteReference:
Balaji, M. K. and Ananda, K. A. (2017) Employee Retention Strategies – An Empirical Research. Global Journal of Management and Business Research: E Marketin, 17(1), pp.16-22.
Key factor that affects to turnover might be workers seeking a more work-life balance approach as well. Ken Blanchard stressed on importance of work-life balance in his one of the best selling book “The One Minute Manager”. workers seek a healthy, flexible and balanced work-life (Blanchard, 1999)
ReplyDeleteIt is important to identify why employees leave the organization. Financial benefits, salary, job satisfaction, responsibilities, age, level of education, job location and there are some other factors expected to influence for voluntary employee turnover. Challenge is how to secure you employees and satisfy them to remain in the organization since the factors infusing are unequal. (Liu,L.J 2014)
ReplyDeleteLiu,L.J (2014) MAIN CAUSES OF VOLUNTARY EMPLOYEE TURNOVER: A STUDY OF FACTORS AND THEIR RELATIONSHIP WITH EXPECTATIONS AND PREFERENCES ,University of Chile.
Thanks Kaushalya, So i agree with you that, Keep skill employees within organization is very important as well as recruiting right people to the organization. For that there should have a solid retention planning, which on basis of factors about how many people leave and why they leave, then establishes what are the preventive actions require to retain those who are worth retaining (Armstrong, 2010).
DeleteReference:
Armstrong, M. (2010) Armstrong’s essential human resource management practice. 1st publish. London, Kogan Page.
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