INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Employee retention has always been an important focus for human resource managers. Once a company has invested time and money to recruit and train a good employee, it is in their best interest to retain that employee, and further develop and motivate him so that he continues to provide value to the organization.
In today’s competitive labour market, there is extensive evidence that organisations regardless of size, technological advances, market forces and other factors are facing retention challenges. Excessive turnover in an organization is a prime indicator that something is not right in the employee environment. Employers must also recognize and tend to what is in the best interest of their employees, if they intend to keep them. When a company overlooks the needs of its employers and focuses only on the needs of the organization, staff turnover often results.
The term ‘employee turnover rate’ as used in this research effort excludes layoffs, reduction in workforce, and completion of temporary assignments. Furthermore, Fitz-enz (1997) states that the average company loses approximately $1million with every 10 managerial and professional employees who leave the organisation. Managerial and professional employees were categorised as ‘exempt employees’ (see definitions section).
The researcher identified the following four internal sources considered in determining the cost of an employee turnover (a) cost of termination (b) cost of hiring and training replacement (c) the vacancy cost until the job is filled and (d) the loss of productivity with new hires.
1.2 STATEMENT OF THE PROBLEM
The organisation has been successful at maintaining a relatively low turnover ratio but the employees who left the company included some of its critical employees, thus presenting a significant challenge. The results of this research effort potentially could be used as a model for guiding employee retention in other large, complex organisations.
1.3 OBJECTIVES OF THE STUDY
The main objective of this study is to determine the factors that significantly influence employees’ decision to remain employed in an Organisation and the reasons for choosing to leave the same Organisation. Also, the researcher seeks to:
(a) Analyse the importance of retaining critical employees.
(b) To examine how employee retention practices can be more effective by identifying, analysing and critiquing employee motivation theories
(c)To establish a relationship between employee motivation and employee retention.
| Project details | Contents |
|---|---|
| Number of Pages | 84 pages |
| Chapter one | Introduction |
| Chapter two | Literature review |
| Chapter three | methodology |
| Chapter four | Data analysis |
| Chapter five | Summary,discussion & recommendations |
| Reference | Reference |
| Questionnaire | Questionnaire |
| Appendix | Appendix |
| Chapter summary | 1 to 5 chapters |
| Available document | PDF and MS-word format |
DOWNLOAD COMPLETE WORK
All listed topics on our website are available project materials in PDF and MS word files, well supervised and approved by lecturers who are intellectual in their various fields of discipline, documented to assist you with complete, quality and well organized researched work. if you can't find what you're looking for feel free to contact us.
FOLLOW US