employee turnover

61,598 views

Published on

Published in: Education

employee turnover

  1. 1. EMPLOYEE TURNOVER AND RETENTION MANAGEMENT <ul><li>Presented By: </li></ul><ul><li>Divya (C-106) </li></ul><ul><li>Jitendra (C-108) </li></ul><ul><li>Kavita (C-110) </li></ul><ul><li>Vishal (C-123) </li></ul>
  2. 2. EMPLOYEE TURNOVER “ Employee Turnover is the movement of members across the boundary of an organization.” How many people are leaving each year Turnover = Number of staff leaving per year x 100 / average number of staff
  3. 3. Classification Of Turnover <ul><li>Functional vs. Dysfunctional turnover </li></ul><ul><li>Avoidable vs. Unavoidable turnover </li></ul><ul><li>Voluntary vs. Non voluntary turnover </li></ul>
  4. 4. Types of Employee Turnover and Retention .
  5. 5. <ul><li>Involuntary turnover </li></ul><ul><li>Turnover initiated by the organization (often among people who would prefer to stay). </li></ul><ul><li>Voluntary turnover </li></ul><ul><li>Turnover initiated by employees </li></ul>
  6. 6. Consequences of Employee Turnover <ul><li>Negative </li></ul><ul><li>Positive </li></ul>
  7. 7. Negative Consequences <ul><li>Recruitment and Selection costs </li></ul><ul><li>Training and Development Costs </li></ul><ul><li>Operational Disruption </li></ul><ul><li>Demoralization of Organizational membership </li></ul>
  8. 8. Positive Consequences <ul><li>Increased Performance </li></ul><ul><li>Reduction of entrenched conflict </li></ul><ul><li>Increased mobility and morale </li></ul><ul><li>Innovation and adaptation </li></ul>
  9. 9. Reasons why an employee leaves an organization <ul><ul><ul><ul><li>Monetary factors </li></ul></ul></ul></ul><ul><ul><li>Lack of good working condition- </li></ul></ul><ul><ul><li>No Flexible work schedules. </li></ul></ul>
  10. 10. Cont… <ul><li>Lack of respect- </li></ul><ul><li>Very Few Supportive colleagues: </li></ul><ul><li>Organization is more concern toward business </li></ul><ul><li>Increase in favoritisms </li></ul>
  11. 11. Cont… <ul><ul><li>Employee needs pride in where they work & what they do </li></ul></ul><ul><li>Lack of appreciation </li></ul><ul><li>Lack of challenges in job </li></ul><ul><li>The job or workplace was not as expected </li></ul>
  12. 12. Cont.. <ul><li>The Mismatch Between Job and Person </li></ul><ul><li>Too Little Coaching and Feedback </li></ul><ul><li>Lack of support </li></ul>
  13. 13. Cont… <ul><li>Stress From Overwork and Work-Life Imbalance </li></ul><ul><li>  Loss of Trust and Confidence in Senior Leaders </li></ul><ul><li>Less frequency in giving rewards. </li></ul>
  14. 14. EFFECT ON ORGANIZATION IF ITS EMPLOYEE LEAVE <ul><li>Loss of productivity </li></ul><ul><li>Replacing qualified employees </li></ul><ul><li>Poor retention creates a “revolving door” culture within the organization lowering morale and confidence. </li></ul><ul><li>Cost of overtime or temporary help </li></ul><ul><li>Recruiting costs </li></ul><ul><li>Interviewing costs </li></ul><ul><li>Time spent in orientation </li></ul>
  15. 15. <ul><li>How to Attract, Keep, Motivate Your Workforce </li></ul>Employee Retention
  16. 16. What is Employee Retention? <ul><li>“ Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee.” </li></ul>
  17. 17. Importance of Employee Retention . <ul><li>The cost of turnover </li></ul><ul><li>Loss of company Knowledge </li></ul><ul><li>Interruption of customer Service </li></ul><ul><li>Turnover leads to more turnover </li></ul><ul><li>Goodwill of the company </li></ul><ul><li>Regaining efficiency </li></ul>
  18. 18. Money may attract people to the front door but something else is needed to keep them from going out the back.
  19. 19. Key Areas in Employee Retention Compensation Environment Growth Relationship Support
  20. 20. Critical Finding It Costs Much More to Replace Employees Than to Keep Them
  21. 21. Retention Management strategies <ul><li>Offer competitive pay package, benefit programs and social security </li></ul><ul><li>Provide continuous training and development programs. </li></ul><ul><li>Provide efficient career planning and development programmes. </li></ul><ul><li>Take proactive measure in identifying employee grievances, dissatisfaction and frustration level and employee corrective measures. </li></ul>
  22. 22. Contd <ul><li>Encourage internal mobility and job change through innovative practices. </li></ul><ul><li>Develop the organization and its business in order to meet employees growing demands and goals. </li></ul><ul><li>Employee measures to satisfy esteem needs and actualization needs of employees in addition to other needs . </li></ul>
  23. 23. Contd…….. <ul><li>Use family involvement programs ,family welfare programmes and family recognition programs. </li></ul><ul><li>Emphasis on succession planning and development. </li></ul>
  24. 24. Major Retention Factors
  25. 25. Employee Turnover and Retention In GCMMF
  26. 26. Hierarchy
  27. 27. Contd……..
  28. 28. Conti… <ul><li>Employee turnover in GCMMF is 17-18% in single year. </li></ul><ul><li>Maximum turnover is at the level of FSR (Field sales level),which is 11-12%. </li></ul><ul><li>Turnover at executive level is less than 1%. </li></ul><ul><li>Turnover at staff level is negligible. </li></ul>
  29. 30. REASONS BEHIND EMPLOYEE TURNOVER <ul><li>Salary </li></ul><ul><li>FSR level: fresh graduates join and they join to gain brand name and experience. </li></ul><ul><li>Stress From Overwork and Work-Life Imbalance </li></ul><ul><li>The job or workplace was not as expected </li></ul><ul><li>Head Hunting. </li></ul>
  30. 31. <ul><li>Poaching at junior level. </li></ul><ul><li>Social factors. </li></ul>
  31. 32. Effects of Employee turnover <ul><li>Recruitment and Selection costs </li></ul><ul><li>Training and Development Costs </li></ul><ul><li>Operational Disruption </li></ul><ul><li>Cost of overtime or temporary help </li></ul><ul><li>Replacing qualified employees </li></ul>
  32. 33. RETENSION STRATEGIES IN GCMMF <ul><li>Incentives </li></ul><ul><li>Training and development programs </li></ul><ul><li>Sponsership for higher education </li></ul><ul><li>Arrangement of regular cultural programs. </li></ul><ul><li>Maintain human relation interpersonal dynamics, employee recognition programs. </li></ul>
  33. 34. <ul><li>Bond </li></ul><ul><li>Proactive measure in identifying employee grievances, dissatisfaction and frustration level and employee corrective measures. </li></ul><ul><li>Encourage internal mobility and job change through innovative practices. </li></ul>
  34. 35. <ul><li>THANKS </li></ul>

×