“Employee turnover” is the term which is a big concern for many organisations in the UK and worldwide. Although there has been a lot of research and studies which were conducted on this topic, most of these studies and research focused on the causes of the labour turnover and little or no focus has been made on examining the effects and advising different strategies which can be used by the managers within their organisation to make sure that they don’t loose their employee.
The purpose of this research is to explore the possible reasons for the high level of labour turnover in the company X and to explore the perceptions of the managers of the company X on the strategic management of labour turnover within their organisation and also to suggest few recommendations to the managers and the organisation on how to handle this situation. Most of the theories and procedures discussed in this report will someway or the other suggests us on how to approach this situation of high labour turnover in the company X.
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Organisations need labour to function and these days organisations are quickly realizing that employees are their major source of competitive advantage to succeed in this highly competitive world. This notion applies equally to almost any organisation in the world. For an organisation to succeed it has to manage it resources effectively.
When an employee leaves the organisation it not only has an impact on the organisation but also on the employee and wider society (Mobley, 1982). These impacts can be both positive and negative (Mobley, 1982; Hom and Griffeth, 1995), and a greater knowledge of the evolution of labour turnover can improve the extent to which organisations and employees within organisations can control these effects (Dalton et al., 1981).
These days’ organisations invest a lot on their employees in terms of training and development, maintaining, and retaining them within their organisation. So, there is a need for the managers to lessen the employee turnover rates within their organisations. This research will look in to the company X, which is a part of the large retail outlet group. For the reasons of ethics the name of the company will not be revealed at any part of this report and will be referred throughout as company X.
Company X is a part of large retail outlet with stores which are spread throughout the UK and worldwide. The business sector in which the company X is operating has a high level of competition and the company X is constantly thriving to maintain their competitive advantage in their sector and gain a huge amount of market share.
The company X operates in a highly competitive environment, it has to continuously deal with the demands and expectations of the customers which is in turn very stressful for the employees in the company X.
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