Employee Turnover At Employers Gain And Lose Their Employees

Employee turnover is defined as the rate at which employers gain and lose their staff (Kysilka Csaba, 2012). When an employee leaves a company, valuable skills and knowledge are lost and it could directly affect the guest. Moreover, finding new employees with similar performance levels as the ones you’ve lost is time consuming and not to mention, costly. Companies who actively find ways to retain employees gain a strong competitive advantage, especially in the hospitality industry (Kysilka Csaba, 2012). Although a certain amount of turnover is necessary and healthy for an organization, a high amount can lead to excessive costs. Turnover is problematic for many companies because it is very costly for the employer, especially in jobs which offer higher education and extensive on-the-job training. High turnover is part of larger set of problems including reduced production and quality higher costs, low satisfaction with managers, work anxiety, absenteeism and work place accide nts (Dipietro Condly, 2007). Reasons For Employee Turnover One of the key reasons a company experiences high employee turnover is demographic factors such as age, gender, education, income level, and job category. More key factors for employee turnover include perceived alternative employment opportunity, job-hopping, salary, type of work, supervision, and organizational commitment (Kysilka Csaba, 2012). A big challenge for the directors of human resources management is how to reduce anShow MoreRelatedCompensation and Benefits1475 Words   |  6 PagesIf an employee did not feel they valued at the workplace they may leave the job. Some may argue that smaller firm have worst turnover than larger firms. 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