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Preventing Voluntary Turnover
Preventing voluntary turnover is important to the success of an organization. Staff turnover is expensive for companies, a cost no employer willingly wants to absorb. There are direct costs such as advertising, interviewing and training and indirect costs such as low morale and disruption of customer care or final product quality (Ziemba, 2004, 44). In a day when tight budgets, time limitations, and customer satisfaction are important to the bottom line, identifying why people leave there job is important, so is determining why they stay.
There are many reasons for employee turnover. Nursing has experiences some of the largest turnover rates; their sheer importance in the healthcare market can result in potential catastrophic results for health care providers (Murrow & Nowak, 2005, 1). Although the shortage of healthcare workers may appear an extreme example; all employee turnover is extreme, to the bottom line. The loss of health care workers could result in the loss of life, the loss of service industry or industrial workers could be a loss of revenue. All industries face turnover that could be catastrophic the livelihood of their business, in the form of lost profits.
Identifying why employee turnover is occurring is the key to diminishing or eliminating these financial losses. One key way to identify why people leave a company; is reversely determined by answering, how to avoid or predict voluntary turnover? Why people stay: The article Why People Stay: Using Job Embeddedness to Predict Voluntary Turnover is a statistical research analysis that takes regressions analysis of voluntary turnover among Grocery Works and Hospital Works. They present to the read ...