In any industry, attrition leads to cost as companies spend lot of efforts and time as well as money in hiring a single candidate. Further it takes more when it comes to train them and to get acquainted into the system. After putting all the efforts if employee leaves the company, it leads to cost to company in terms of knowledge that he gained while working, worry among coworkers, cost attached to new recruitment and overall it affects the productivity of work. Losing a valued employee is always a loss for the company.
The supermarket industry faces a critical need to find and keep good employees to properly serve its customers. Labor shortages are particularly painful to retailers who built stores or high-skill departments, like pharmacies,
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In organized retailing major workforce is of young talents. Young professionals are growth oriented so always keep searching for new opportunities in the market. Also stress, long working hours & lack of career growth leads to high attrition in Retail. Employee turnover has become the challenge that the organized retailers are facing tremendously.
Thus, retention is more economic than recruiting new employees. Organizations should have an effective retention policy to retain the existing employees. Retention management is the process of retaining the existing manpower specifically the competent & talented one and also to encourage others to join the organization.
Though, there are no fixed practices that show the relevance and significance as to how to retain employees and keep them committed towards the organization because employers lay different emphasis on different variables depending on what suits their organization best. Hiring employees is just the beginning to creating a strong committed work
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Employee turnover may be understood as the employee leaving the organization or profession voluntarily. It has been observed that voluntary turnover is an interdisciplinary and multidimensional construct. Various studies, over the years, have been conducted and different models have been proposed to explain turnover of employees. Different factors have been quoted in the models to reason out the quitting behavior of employees. However, every model indicates one common factor –turnover intention –as the antecedent of actual turnover behavior. This study aims to find out the impact of employee satisfaction on retention of employees in the retail sector identifying the different factors that makes the employee happy and makes them stay with the company. (S. Batty Dorance Jean, 2014).
Clearly as identified, high attrition leads to increased cost to the organizations especially in sectors to which it is commonly observed as what will be discussed in this study. Therefore the HR Manager of the company should either have a proper policy to retain the employees or should plan the exit to prevent the loss occur due to attrition. Through attrition, people not only leave the organization but also take the company resources in the form of expenses occurred in recruitment, training given to them, knowledge they have gained, time
Dedication is a really big thing. I take staffing very seriously
Thomas J. Sugrue. The Origins of the Urban Crisis: Race and Inequality in Postwar Detroit. In his 1996 monograph entitled The Origins of the Urban Crisis: Race and Inequality in Postwar Detroit, Thomas J. Sugrue explores the factors which led gradually to the “urban crisis” in Detroit, arguing that, “It is only through the complex and interwoven histories of race, residence, and work in the postwar era that the state of today’s cities and their impoverished residents can be fully understood and confronted,” (Sugrue, 5). Sugrue proposes that it is not the riot of 1967 which triggered the urban crisis, but rather the culmination of these issues.
Organized retail crime is an industry growing rapidly and affecting retail stores worldwide. Although businessman report lost to their store in many forms, shrinkage accounts for the largest percentage of the loss. Business owners classify loss in a variety of forms such as employee theft, public shoplifting, and inventory mismanagement. While the professional shoplifter is detrimental to any business owner, it is important to understand that shoplifting alone is not the problem. It is important that business owners focus on not just preventing professional shoplifters but also learn their mindset to prevent the likelihood of supporting an organized retail crime organization.
Healthcare organizations (HCOs) face a number of difficulties within its organization each day, including patient acquisition and patient retention. It is commonly believed that getting individuals to their healthcare facility is the most challenging aspect that HCOs face. Of course, new patient acquisition could be a challenge without an efficient marketing strategy, but the challenge does not stop there. One of the biggest challenges for many practices today is maintaining a high patient retention rate. Pushing a patient from a one-time-visitor to becoming a frequent visitor of a specific healthcare organization involves much more effort than expected.
Study results showed increased employee satisfaction and a reduction in employee turnover rate. (Brunges, M., & Foley-Brinza, C.,
Moreover, the employee get involved more to help the organization succeed.
When employees see they are valuable to the company and they are secure it gives them confidence and in return they give their loyalty to the
Highly qualified employees + + + + Sustainable competitive
Thirdly, I believe that flexibility is very important today with the employees, because if the working hours are not flexible, they tend to either do not prefer working here or when they get the opportunity they move out. So if wee summarize, in my experience I believe that wages, growth and flexibility are the main reasons that cause turnover in the
Lowe 's Company Inc was originated in North Carolina in 1946. Carl Buchanan, proprietor of Lowe 's Co can be accredited for the Lowe’s evolution. Lowe 's evolved from a small hardware store to the 2nd largest home improvement retailer worldwide (History, n.d). In addition, Lowe 's is an international company with multiple stores located in U.S, Canada and Mexico. The organization 's extensive product collection comprises of appliance, hardware, building supplies, plumbing and more.
3. INTRODUCTION Today retailing services has become very much important in the competitive environment. Customer service quality has been widely used by the retailers as one of the important strategy. Retailing is the second largest employment provider after agriculture.
This section reviews theories on employee retention. 2.2.1 Herzberg Two Factor Theory Frederick Herzberg (1959) two-factor theory is also known as the motivation-hygiene or the dual-factor theory. Herzberg’s theory states that certain factors in the organization related to the contentment of the job which provides satisfying experience for employees while separate set of hygiene factors cause dissatisfaction among employees in the workplace. The former factors are called motivators or satisfiers and include achievement, recognition, the work itself, responsibility, opportunity to do something meaningful, sense of importance, advancement and growth while the former factors are known as hygiene factors such as job security, fringe benefits, salary paid
Organisations have long struggled to retain employees without pouring in too many resources into incentives, however there are many other factors that influence the motivation for an employee to work for an organisation. The following factors are very important to retaining employees: ➔ Vision and Mission: Each organisation has a vision set by its leaders, a ground basis on which it stands for. This vision is the key for driving innovation, research and development for the company. Vision is also the driving force and motivation for its employees, to push their limits and to outperform the competition.
Employees are the most important part for any organization. They are the associate degree and are the integral part of the organization, without the employees the company cannot imagine to grow and cannot additionally be ineffectual to realize something not even a single goal of the organization. Turnovers lead to more turnovers. Herd mentality is what men and women
It could be applied for retaining an ageing workforce to promote continuity of care, and retain more experienced HCP in the workforce. The experienced HCP would act as role model among young HCP, and pass their knowledge and skills to them and subsequently improve the quality of healthcare services. They would decide to stay in the organization because of familiarize of working culture and appreciated, and they might not be able to get high salaries in other organizations due to high competition. However, more money does not indicate higher motivation. Therefore, additional retention strategies for HCP should be