Labour Turnover: One of the Key Challenges in HRM

The term “employee turnover” is one of the central factors deciding the productivity of the company. The issue of employees’ turnover not only affect human resource professionals but also, the issue of labour turnover has attracted the attention of senior management and industrial psychologists. The issue of labour turnover has not spared developed countries but its effect upon organisations situated in developing countries is much worse. If there is instability within the management structure in an organisation, then employees are likely to shift to another company where they can get a stable working environment. Causes of turnover can be “Salary and Fringe benefits”, “Attitude of managers”, “Available alternative opportunities”, etc. there are advantages as well as disadvantages to employee turnover, but to an employer the disadvantages always outweigh advantages. Hence, theory of motivation can be applied in order to retain valuable employees. It cannot be denied that employees are indispensible for companies and they need to be motivated and retained in the company. Managers need to apply correct approaches so that organisations can continue to utilise their skill in attaining global competitive advantage.

Labour Turnover: One of the Key Challenges in HRM

Type: Report
Domain: Employee Motivation
Words: 2000
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