Thursday, July 18, 2019

How to Avoid High Turnover Essay

Employee turnover is a ratio comparison of the number of employees a company must replace in a given time period to the average number of total employees. † In the recent years Operation department of Caulfield Racecourse experienced problems associated with high turnover, which is a pervasive and serious issue resulting in high direct expenditure as well as intangible costs, low performance level and job dissatisfaction. Operation department is looking after large numbers of employees: event managers and supervisors, administration and operation assistants, staff coordinators, caterers, set up teams, cleaners. The problem is not the lack of job applicants: the company receives endless stream of applications. The problem is that the quality employees are hard to keep. The talented employees do not stay for long before they get employed somewhere else. As an Operation Manager Executive Assistant the author has been asked to examine and analyse factors that may impact on staff turnover. Applying a combination of quantitative and qualitative techniques (form of structured questionnaire) to determine the reasons why workers leave their jobs at Operation department, this research tries to identify the root causes of job dissatisfaction leading to turnover and provides managerial implications that may assist managers in dealing with labor-related risks. 1. 1 Objectives This report is identified to achieve the following objectives: 1. To identify general factors that may cause high turnover within Operation department. 2. To examine and analyse levels of staff job satisfaction. 3. To suggest some measures in order to improve overall job satisfaction, performance and reduce high turnover. 1. 2 Methodology * Structured questionnaire (consist of multiple choices, ranking and descriptive questions). The survey method was selected to gather primary data by administering the structured questionnaire among the employee in Operation department of Caulfield racecourse. The questionnaire is chosen because of its simplicity and reliability. We can expect a straight answer, which is directly related to the questions asked. Interpretation of data under this can also be done correctly. An organisation perceived to be in economic difficulty will also raise the specter of impending layoffs. Workers believe that it is rational to seek other employment. 3. The organisational culture. Much has been written about organisational culture. It is sufficient to note here that the reward system, the strength of leadership, the ability of the organisations to elicit a sense of commitment on the part of workers, and its development of a sense of shared goals, among other factors, will influence such indices of job satisfaction as turnover intentions and turnover rate. . The characteristics of the job. Some jobs are intrinsically more attractive than others. A job’s attractiveness will be affected by many characteristics, including its repetitiveness, challenge, danger, perceived importance, and capacity to elicit a sense of accomplishment. A job’s status is also important, as are many other factors. 5. Unrealistic expectations. Another factor is the unrealistic exp ectations and general lack of knowledge that many job applicants have about the job at the time that they receive an offer. When these unrealistic expectations are not realised, the worker becomes disillusioned and decides to quit. 6. Demographics. Empirical studies have demonstrated that turnover is associated in particular situations with demographic and biographical characteristics of workers. But to use lifestyle factors (e. g. smoking) or past employment history (e. g. many job changes) as an explicit basis for screening applicants, it is important for legality and fairness to job applicants to verify such biodata empirically. 7. The person. In addition to the factors listed above, there are also factors specific to the ndividual that can influence turnover rates. These include both personal and trait-based factors. Personal factors include things such as changes in family situation, a desire to learn a new skill or trade, or an unsolicited job offer. In addition to these personal factors, there are also trait-based or personality features that are associated with turnover. These traits are some of t he same characteristics that predict job performance and counterproductive behaviors such as loafing, absenteeism, theft, substance abuse on the job, and sabotage of employer’s equipment or production. These traits can be measured and used in employee screening to identify individuals showing lower probability of turnover. It is important to note that the factors we have listed above can be classified as being within or beyond the control of the employing organisation. In order to actively participate in reducing costs associated with turnover, organisations need to identify those factors over which they do have some control and initiate necessary changes to reduce turnover attributable to these â€Å"controllable† factors.

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