Introduction to Human Resource Management - Employee Journey (& HR processes) - Retention and turnover
12 important questions on Introduction to Human Resource Management - Employee Journey (& HR processes) - Retention and turnover
What is Involuntary turnover?
How can turnover be calculated?
What does direct turnover cost entail?
- Cost of leaving
- replacement cost
- transaction cost
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What does indirect turnover cost entail?
- Loss of production
- reduced performance
What are examples of turnover costs?
- Recruitment and replacement
- Administrative hiring cost
- Lost productivity
- the time between the loss of the employee and the hiring of a replacement
- new employee learning the job
- coworkers helping the new employee
- Costs of training
- Costs associated with the employee’s lack of motivation prior to leaving
- Sometimes, the costs of trade secrets and proprietary information shared by the employee who leaves
- Public relations costs
What are Retention plans?
What are reasons of voluntary turnover?
- Job mismatch -A poor match between the job and the skills of the employee
- Lack of growth
- Internal pay equity- dissatisfaction when comparing salary with others
- Management
- Unrealistic expectations of managers
- overmanaging
- lack of communication
- not being fair (playing favorites)
- Workload
- too heavy/ too little
- resulting in a lack of work/life balance
What is a high-performance work systems (HPWS)?
What are components of a high-performance work system?
- Teamwork and team rewards
- Employees work is rewarding
- Empowerment
- Information sharing is encouraging
- Training
- Fair paysystems
What is involved in the physical withdrawal phase?
- Employee leaves the job
- Employee takes internal transfer
- Starts to become absent or tardy
What are examples of involuntary turnover?
- The company can't pay for the employee anymore
- Performance is not up to standard
- Change in business strategy
- Fraid
- Forst retirement
What are the progression of Job withdrawal theory?
- Behavior change: dissatisfied with growth opportunities.
- Physical withdrawal: leaves the job
- Psychological withdrawal: disengaged, less job involvement
The question on the page originate from the summary of the following study material:
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- Never study anything twice again
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- 100% sure, 100% understanding
