Employee Turnover-a Study of its Causes and Effects to Different Industries in Bangladesh Štúdia fluktuácie zamestnancov, jej dôvody a dôsledky v rôznych odvetviach v Bangladéši AHM Shamsuzzoha, Md. Rezaul Hasan Shumon Abstract Productivity is very important issue for an industry or organization. There are several factors on which productivity of an organization mostly depends upon. Employee’s turnover is one of them which is considered to be one of the challenging issues in business nowadays. The impact of turnover has received considerable attention by senior management, human resources professionals and industrial psychologists. It has proven to be one of the most costly and seemingly intractable human resource challenges confronting by several organizations globally. The purpose of this research is therefore, to find out the actual reasons behind turnover and its damaging affects on the productivity of different industries in Bangladesh. The authors of this paper were visited and studied several local industries both from government and non-government sectors in Bangladesh and observed the suffering for turnover problems. The objective of these case studies were to find out the actual reasons of turnover, its negative effects and possible recommendations that could be helpful to the local industries for their productivity and market share. Keywords: Turnover, Job satisfaction, Industrial regula- tion, Productivity. Abstrakt Produktivita je veľmi dôležitý prvok pre odvetvie alebo organizáciu. Je niekoľko faktorov, na ktorých závisí pro- duktivita spoločnosti Fluktuácia zamestnancov je jednou z tých, ktoré sa považujú za výzvu v dnešnom podnikaní. Dô- sledok fluktuácie si vynucuje značnú pozornosť staršieho manažmentu, ľudských zdrojov a podnikových psycholó- gov. Fluktuácia sa stala jednou z najnákladnejších a zdan- livo neovládateľnou výzvou pre ľudské zdroje, ktoré sú ňou konfrontované v mnohých globálnych spoločnostiach. Cie- ľom tohto výskumu je preto nájsť súčasný dôvod fluktuácie a jej zničujúce pôsobenie na produktivitu niekoľkých odve- tví v Bangladéši. Autori príspevku navštívili a študovali nie- koľko miestnych spoločností v komerčnom aj privátnom sektore, kde sledovali problémy fluktuácie. Cieľom tejto prípadovej štúdie bolo nájsť súčasné dôvody fluktuácie, ich negatívne dôsledky a možné odporúčania, ktoré by boli ná- pomocné lokálnym spoločnostiam pre zdieľanie ich produk- tivity a trhu. Kľúčové slová: fluktuácia, pracovné uspokojenie, prie- myselná regulácia, produktivita. 1 Introduction Today’s competitive business world, it is considered to be an important task to manage employee turnover for any organization. Naturally people want diversities in his/her everyday life; seeks for new and challenging jobs and good working environment in job place. To provide these things to the employees in an economic way is very difficult and cumbersome. But it is also crucial for any organization to retain its talented employees. Every organization wished to have high productivity, fewer turnovers and to be profitable. Managing turnover successfully is a must to achieve the above goals. In Bangladesh, it is very important to manage turnover for both government and non-government sectors. In government sectors, although some fringe benefits are given to the employees regularly do not satisfy them sufficiently. In private sectors, though salary and benefits are high but security of job is less. Due to these reasons turnover rate in private sectors are higher than public sectors. Turnover rate also varies from manufacturing to service sectors. Very few researches have been conducted related to turnover in Bangladesh so far. The owners of the business organizations do not concentrate on this important issue because of less awareness. They have little idea about how detrimental the effect of turnover is into the productivity of their organizations. In recent years, researchers are conducting
Time, money, and resources invested in recruiting, training, and maintaining employees is lost when employees exit a firm. disrupt the org’s ability to produce and maintain the right quantity/quality of talent derail org’s focus on larger strategic issues.
Retail sector has high turnover levels, with very few long-tenured employees.
in the hospitality industry, one in every five employees leaves the company in any given year
Turnover: termination of an individual’s employment with…
LO 9-8 Discuss how organizations are meeting
the challenges of the “glass ceiling,” succession
planning, and dysfunctional managers
Employee Engagement, Separations
1. Distinguish between involuntary and voluntary turnover,
and describe their effects on an organization.
2. Discuss how employees determine whether the
organization treats them fairly.
3. Identify legal requirements for employee discipline.
4. Summarize ways in which organizations can fairly
How Much Does Labour Turnover Cost? A Study of Australian Four- and Five-Star Hotels
Purpose: Employee turnover is a significant challenge for Human Resource Management (HRM) strategies and organisational performance. This study presents findings drawn from an extensive survey of labour turnover in the Australian accommodation sector. A particular focus is placed on turnover rates and costs.
Design/methodology/approach: Based on labour turnover literature and an industry panel, an online…
Greater Toronto Area. Through a report prepared by the Institute for Research on Labour and Employment at UC Berkley, the turnover in management positions usually costs 150% of that individual’s salary. However, within the first year of employment, 46% of new hires leave. As well, 43% of 26-39-year-olds expect to leave within three years. Recently, SmartBusiness Consulting Inc. has experienced a high staff turnover rate and lost 10% of their consultant. The company hopes to use some information system…
The purpose of this research report is to give a proper solution to the Eastern Leagues Club about the major staffing problem, especially in labour turnover which is very high in certain parts of the works. This should be a form of advice which is giving to the CEO, based on given facts in scenario with general principles of industrial relation. By combining these facts and principles, this paper can give effective solutions the CEO.
ii. Brief Scenario
Overview of Employee Turnover Research
The impact of turnover has received considerable attention by senior management, human resources professionals, and industrial psychologists. It has proven to be one of the most costly and seemingly intractable human resource challenges confronting organizations. This paper provides a summary of information, abstracted from published research, on the costs of turnover, factors contributing to its magnitude in organizations, and proposed remedies.
Porter’s model of competitive forces in an industry is an extension on Structure-Conduct-Performance model (SCP). SCP involves features, such as structure of industries (degree of concentration, market share distribution), conduct of firms (price setting, advertisement techniques, technology) and performance of firms/industries, (profitability related to the extent of market power)
Porter’s model assumes that there are five strengths of rivalry that classify the competitive dominance in an industry…
ratio and cost per hire.
Know what recruiting is, the 3 decisions organizations must make, and who makes these decisions.
Internal vs. External labor markets
Sources – Positives and negatives of each
Public employment agencies
Private employment agencies
Executive search firms
Does it matter?
What are some behaviors that have a positive/negative effect on applicants?
Be able to list predictors…
Employee Turnover 3
Employee Turnover Costs 4
Employee Retention 5
Employee Retention Strategies 5
The goal of this study is to understand employee turnover and its cost, employee retention and what are some Canadian company’s retention strategies to reduce high employee turnover rates.
Employee turnover is a ratio comparison of the number of employees…
This proposal is aimed at conducting a study to investigate the causes of employee turnover. Proposed study will use different research articles to develop a model which shows that employee satisfaction, employee motivation and employee involvement has an impact on employee turnover.
Proposed Research Title
CAUSES OF EMPLOYEE TURNOVER:
Background of Study
Employee turnover is the…