![]() In regards to the improvement of workplace environments, it is essential to recognise the importance of workplace culture, the physical concerns of health and safety, practices associated with health and lifestyle and supportive relations between workers. For instance, employers may improve the workplace environment or facilitate job enrichment as tool for making workers stay in their positions. To reduce the rates of employee turnover, organisations use a range of approaches to talent retention. However, it is important to mention that most real costs of employee turnover are unknown because the majority of organisations do not have established systems of tracking exit costs, expenses targeted at recruiting and hiring. This means that companies lose money and time when workers leave their positions, and therefore, there are no employees left to fulfil their roles. Lost productivity also leads to costs because it may take a new employee up to several years to reach the level of productivity of his or her predecessor. Relevant processes include the time spent on orientations, training and other procedures related to getting a new person accustomed to a position. Costs of onboarding are high because companies should integrate a new individual into the workplace. These costs are associated with the need to hire new workers and thus spending on advertising, interviewing, screening and hiring. This means that losing a worker is more likely to bring organisations additional costs that could have been avoided had an employee not left his or her position. ![]() According to the article by Merhar, for a manager who makes $40,000 per year, companies usually pay between $20,000 to $30,000 in training and recruiting expenses. The turnover of employees in the workplace is connected with increased costs for companies. In addition, the absence of effective communication along with the unfair wage distribution makes workers leave their companies. ![]() The lack of support for workers is another reason, especially when they are expected to fulfil the responsibilities and tasks that should be completed by multiple people. ![]() One of the causes behind turnover is associated with the values of employees not aligning with the culture of a company. High rates of turnover have an overall adverse effect on the performance of companies, and understanding the reasons behind employees leaving companies is essential. The indicators of employee turnover and retention usually point to the well-being of an organisation in terms of the satisfaction of workers and the potential prosperity. ![]()
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