Employee Turnover After Financial Crisis in 2008

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Employee turnover

CHAPTER 1

INTRODUCTION

1.1 Background of Studies

Employee turnover is the hottest and current issue that always discusses by the government, since we are confronted with the global economic crisis on 2008. The crisis of economic is directly affected to the corporation, especially the production line and manufacturing company. The unexpected crisis will arise in the employee turnover rate happened no matter for the voluntary or involuntary case and it achieved the highest rate within the past 20 years in Malaysia as well.

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Therefore, other than the efforts and measurements had been taken by the government like donated sustention fund to secondary industry, the efforts of employers are vital to minimize the employee turnover.

 

On the other hand, the advance knowledge likes the significant of the compensation and benefits package toward the employee and the preference of employees toward the different types of the compensation and benefits package are necessary to implant and infuse to all the employers in order to retain their quality workers. There are some factors are directly influenced to the employee turnover in the real working environment. The employers will enjoy the benefits if they manage to retain their employees or minimize the employee turnover problem by implementing the felicitously compensation and benefits package.

 

The higher employee turnover rate is considering the severely problem to a particular country because it is absolutely bringing negative effects in progressing development. The employee turnover rate definitely cannot be terminated, but I sincerely wish that this problem can fully minimize. I strongly believe that the compensation and benefits ways might be able to minimize the employee turnover in the working place.

 

1.2 Introduction

Turnover rate is considering the severely problem to a particular country because it is absolutely bringing negative effects in progressing development. The employee turnover rate definitely cannot be terminated, but I sincerely wish that this problem can be fully minimized. I strongly believe that the compensation and benefits ways might be able to minimize the employee turnover in the working place.

 

This research is related to how the compensation and benefits way in minimizing the employee turnover rate. In fact, compensation and benefits play a vital role in retaining the employees in an organization. Compensation and benefits can be defined as the process that taken by the Human Resource Management on every single day like setting the rules and procedures around the salaries, a direct way as cash paid and indirect way like given benefits to the employees. This element is highly mentioned in the employment contract and concerned by the employees as well.

 

On the other hand,

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