Turnover and Retention Research Paper by Peter Pen

Turnover and Retention
This paper discusses the reasons for high turnovers and what companies can do to reduce turnover and raise retention.
# 62029 | 5,780 words | 31 sources | APA | 2005
Published on Nov 05, 2005 in Business (Human Resources) , Labor Studies (General)


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Description:

This paper explains that retention of employees has become a major task for companies because employees no longer show company loyalty by staying with their employers throughout their career life. The author points out that, whereas years ago employees stayed with their employer for years letting the employer define the quality of their life in terms of salary or satisfaction; today, employees leave their current employer in search of more income, better benefits or career advancement. The paper relates that issues of retention and turnover are all about company culture -- "kinder and gentler" is replacing "do it my way"; examples of companies seeking to change their culture are MasterCard, Great Plains, Inc. and Southwest Airlines. advancement.

Table of Contents
Introduction
What is Retention and Turnover?
Employee Stability
Undervalued and Underutilized
Supervisor issues
Problem Analysis
Employee Symptoms
Labor Shortage
Turnover Costs
Why Companies Fail at Retention
It's not about Money
Other Issues
Raising Retention, Lowering Turnover
Mindset
Survey
Supervisor Responsibility
Work Environment
Feedback
Compensation
Training
Career Development
Bureaucracy
Conclusion
Chart: The Cost of Turnover
Chart: A Sample New-Hire Survey

From the Paper:

"Employees who feel undervalued and underutilized will look to change jobs. Employees who feel undervalued and underutilized have lost the meaning of their job. According to Holbeche (2004), employees in general are looking to make their work more meaningful. The author reported a study that stated, "63 per cent of board directors, 72 per cent of middle managers and 69 per cent of directors and senior managers are looking for a greater sense of meaning in their working lives". Based on this study, companies must actively work to help their employees feel valued if they want them to stay. The author also reported that 68% of the people in large organizations have lost the meaning in their work and seek flexibility in their work. However, they were not willing to give up career advancement to achieve the work/life balance. In contrary to that, Knippen and Green (1996) suggest that employees who feel undervalued and underutilized should ask their supervisor for interesting work. Interesting work could be anything from adding more responsibility to simply changing the way a task is done. No matter what the work change is, it is important to outline to the supervisor the benefits of getting interesting work and the consequences of not getting it, which includes quitting."

Cite this Research Paper:

APA Format

Turnover and Retention (2005, November 05) Retrieved November 27, 2022, from https://www.academon.com/research-paper/turnover-and-retention-62029/

MLA Format

"Turnover and Retention" 05 November 2005. Web. 27 November. 2022. <https://www.academon.com/research-paper/turnover-and-retention-62029/>

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