Employee Turnover
Management Development Institute of Singapore in Tashkent
Management Theory and Practice
Employee Turnover
Student: Karimov Ibrokhim
ID: B0900353
Group: 306
Lecturer: James Tippins
Table of Content 1. Introduction……………………………………………………………..…. 3 2. Factors which contribute to employee turnover magnitude in company…. 4,5 3. The costs of employee turnover…………………………………………... 6,7 4. Suggestions to reduce high employee turnover……………..…………...…. 8 5. Conclusion………………………………………………………………….. 9 6. References…………………………………………………………………. 10
Introduction
Employee turnover is a ratio comparison of the number of workers a company must replace in a given time period to the average number of all employees. A big concern to most companies, employee turnover is a costly expensive, for example, in lower paying job roles, for which the employee turnover rate is highest. Many factors play a significant role in the employee turnover rate of any organization, and these can stem from both the employer and the employees. Wages, employee attendance, company benefits and job performance are all factors that play an important role in employee turnover. Companies take a deep interest in their employee turnover rate because it is a costly part of doing any businesses. When a company replaces a worker, the company incurs direct and indirect expenses. These expenses include the cost of advertising, headhunting fees, human resource costs, loss of productivity, new hire training, and customer retention -- all of which can add up to anywhere from 30 to 200 percent of a single employee 's annual wages or salary, depending on the industry and the job role being filled.
Factors which contribute to employee turnover magnitude in company
There are a number of factors that can contribute to employee turnover. We discover some of these factors in more detail below. The economy which was in exit interviews, one of the most common reasons given for leaving
Management Theory and Practice
Employee Turnover
Student: Karimov Ibrokhim
ID: B0900353
Group: 306
Lecturer: James Tippins
Table of Content 1. Introduction……………………………………………………………..…. 3 2. Factors which contribute to employee turnover magnitude in company…. 4,5 3. The costs of employee turnover…………………………………………... 6,7 4. Suggestions to reduce high employee turnover……………..…………...…. 8 5. Conclusion………………………………………………………………….. 9 6. References…………………………………………………………………. 10
Introduction
Employee turnover is a ratio comparison of the number of workers a company must replace in a given time period to the average number of all employees. A big concern to most companies, employee turnover is a costly expensive, for example, in lower paying job roles, for which the employee turnover rate is highest. Many factors play a significant role in the employee turnover rate of any organization, and these can stem from both the employer and the employees. Wages, employee attendance, company benefits and job performance are all factors that play an important role in employee turnover. Companies take a deep interest in their employee turnover rate because it is a costly part of doing any businesses. When a company replaces a worker, the company incurs direct and indirect expenses. These expenses include the cost of advertising, headhunting fees, human resource costs, loss of productivity, new hire training, and customer retention -- all of which can add up to anywhere from 30 to 200 percent of a single employee 's annual wages or salary, depending on the industry and the job role being filled.
Factors which contribute to employee turnover magnitude in company
There are a number of factors that can contribute to employee turnover. We discover some of these factors in more detail below. The economy which was in exit interviews, one of the most common reasons given for leaving
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