The Link Between Voluntary Turnover And An Organization

The Link Between Voluntary Turnover and an Organizations Survival Introduction Strategic human resource management (SHRM) is the study and analysis of human resource (HR) strategies adopted by companies in an attempt to measure the impacts on employee performance. The domain has evolved to encompass particular aspects of HR, such as recruitment and selection, construction of formal HR policies, and refining company practices. Ideally, these features assist to attract, progress, encourage, and retain employees who in return contribute to the effective performance and survival of the organization. In an attempt to achieve this, organizations are adopting strategies to reduce voluntary employee turnover, which is defined as an employee’s decisions to voluntary terminate an employment relationship. Generally regarded as the most significant issue that voluntary turnover poses is the cost to an organization, embedded in hiring and training a replacement worker, training and development programs, and administration setup which not only drains an organizations profit but also expends valuable time and effort. Exploring beyond monetary costs, the implications of high voluntary turnover rates extends to the loss of valuable human capital which effects the motivation and productivity of remaining employees, and shifts the workplace morale. Furthermore, a loss of an employee may prove critical to the organizations reputation from both an insider and outsider perspective. These issuesShow MoreRelatedRelationship Between Layoffs And Voluntary Turnover1417 Words   |  6 PagesRelationship between Layoffs and Voluntary Turnover As the world accelerates in advancements such as technology, the society is now capable of reaching greater heights in efficiency more than ever. 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