Time: Employment and Turnover Essay

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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…