Managing costs twice an employee’s salary to find

Managing Employee TurnoverThis research paper focuses on how organizations can manage employee turnover when an organization has a high employee turnover rate, they lose the most important part of the organization. Once an organization starts losing its staff at a higher than normal rate, that means things need to change within the organization. There are many strategies that can be used to manage employee turnover in any organization. This includes the recruitment of the right staff to ensure they fit in with the culture of the company, rewarding efforts of the employees and recognizing their valuable contributions to the productivity of the organization. These strategies target the issues identified by employees as the most important factors that impact their decision to stay or not to stay with an organization. When employee’s needs are met it significantly reduces turnover. It is the job of the Human Resource department to focus on creating a program that allows for the acquiring and retaining the best skills within a company. This means that the Human Resource managers must make sure they have recruited the best employees, as well as train and ensure they are motivated to work in their current work environment. It becomes a concern to human resource management, and the organization when employees feel and actualize the need to leave the company. Such incidence is always in response to the organizational or management failures to meet their specific needs. It is the role of the organization, through its Human Resource department, to ensure that employees view remaining in the organization as the better option even in the face of other options like new employers (CIPD, 109). This paper will focus on how employers should manage employee turnover in organization. High employee turnover is harmful to a company’s overall long term success. Research shows it costs twice an employee’s salary to find and train a replacement, the cost is even higher when there are many employees leaving the organization. Employers need to understand the needs and wants of their employees and develop strategies for recruiting and retaining talent. Retention of productive employees is a major concern for organizations. It is more efficient to retain a quality employee than to recruit, train, and orient a replacement employee of the same quality (Rockers and Bärnighausen, n.p). According to SHRM’s Job Satisfaction and Engagement research report, most employees find the relationship with their immediate supervisor and senior management very important to their job satisfaction (Society for Human Resources Management, 12). Specifically, employees want to feel respected and have a mutual trust between themselves and management. Compensation and benefits, job security, job opportunities, and recognition are also at the top of the list of contributors to job satisfaction. Employee job satisfaction and engagement factors should be considered the key elements of employee retention programs. Addressing these factors is important to keep employees satisfied, which leads to increased performance, productivity, employee morale and quality of work. Also, a reduction in both turnover and employee-related problems is worth the investment of time and financial resources. This will make sure that the organization retains talented and motivated employees who truly want to be a part of the company and helping to contribute to its success (Bridger, Day, and Morton, 1632). Hiring the right individuals from the beginning is the most efficient way to reduce employee turnover. Carefully interviewing and vetting candidates to ensure they have the right skills along with fitting well with the company culture, managers and co-workers. This means the company will have acquired only the best candidates for their target positions. It also ensures that the employees who are recruited, brought onboard and inducted into the organization have the required skills, knowledge, and attitudes to fit into the organizational environment and to meet the expectations of the hiring managers (Smith and Macko, 65). This is why the hiring process must be done properly by any organization seeking to run a long-term succesful business. Setting the right compensation and benefits is also an important strategy to ensure the employees feel valued for their productivity. The organization must stay up to date with the current data and trends on industry pay packages, and get creative when necessary with benefits, flexible work schedules and bonus structures. This makes the employees aware their efforts translate to economic empowerment and any extra effort is comparatively compensated through the rewards and benefits program. Human resource managers must review compensation and benefits packages annually and stay up to date with trends in the industry and the market (Graffam et al., 176). It is crucial to pay close attention to employees’ personal needs and offer more flexibility when possible especially when it comes to the management of work-life balance. It may be important for the organization to consider offering for example telecommute, compressed schedules or on-site or backup daycare. These strategies make the employees feel the employer is not exploitative but mindful of their life away from the office. Further, planning for social events for the employees helps them to learn more about one another and be able to work together going forward. This helps to reduce instances of interpersonal conflicts within the organizational departments and ensure the employees are productive together (Martin, 517). More importantly, friendly and supportive teams are a major reason for employees feeling motivated about their workplace and later reduced instances of turnover. The teamwork support helps to boost employees’ engagement. Employees always need social interaction and a rewarding work environment. These rewards do not necessarily have to be monetary, but concepts like promotions, increased autonomy and control are important in making the employees comfortable about their situation and satisfied with their efforts. Respect and recognition from managers as well as challenging positions with room to learn and move up in the organization is important. It is the responsibility of the managers to ensure the employees have the best environment for personal and professional growth (Smith and Macko, 64). Managers often overlook how important a positive work environment is for staffers, and how far meaningful recognition and praise from managers can go to achieve that. Simple things like rewards, recognition, and praise is the most cost-effective way to maintain a happy, productive workforce. According to research, simple emails of praise at the completion of a project, monthly memos outlining achievements of your team to the wider division and peer-recognition programs are always to inject some positive feedback into a workforce (CIPD, 109). The other strategy in ensuring employees retention and later reduce the turnover rates is effective human resource development. The organization should outline and provide a positively challenging work environment and defined career paths. Employees want to know where they could be headed in their careers, how they can get there and what is the role of their organization in helping them towards that. Organizations that provide the employees with a chance to develop in their careers have a higher employees’ retention rate. Training and development programs must be instituted in the organization to ensure that employees are assured of career development. On job training, positive mentorship, as well as sponsored training workshops, ensures that employees become better as they continue working. This motivates them to remain in the organization and increase their loyalty and productivity (Bridger, Day, and Morton, 1655). In conclusion, employees’ turnover affects organizations due to the cost implication and the loss of valuable skills from the workforce. An organization is therefore left to start from the basic recruitment, leading to sluggish organizational development. Reducing this turnover rate ensures the organization can concentrate on productivity and that the experience that employees obtain is retained in the organization to enhance overall organizational productivity (Martin, 516). Different strategies to ensure this retention have been explored in this paper including the need to get into the organization the best skills and attitudes, and later increases the chances for their retention. Other strategies must focus on addressing all the concerns and aspects of the employer-employee relationships regarding rewards and benefits, interpersonal relationships as well as career development. These strategies magnify employee satisfaction and reduce their need to move out of the organizations. However, the efforts input by the organization must be sustainable and permanent.

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