Study on employee turnover in business and service organization
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Employee turnover is a problem that can hurt sales productivity, service levels, and drive up costs; all at the same time. Turnover can creep up and steal momentum from even the best run companies. Involuntary turnover has not been a major issue in many companies; the reason is that it is a highly common phenomenon. When times are good, jobs are abundant; wages are rising; workers are trying to get better opportunity. Turnover can be a symptom of other problems, especially dissatisfaction with work or working conditions. Measures taken to prevent turnover are bound to improve other operating results as well. Turnover is costly in terms of time and effort required to recruit, select, and train new personnel. Employee who leaves the organization is dissatisfied; it could be some will retire, leave town, quit because of family circumstances, and desire to change professions, or even start a business of their own. It is important to know and recognize the difference between employees who leave because they are unhappy and those who leave for other reasons. To minimize turnover, employees may be given perks and compensation, pleasant working conditions, opportunity for growth/advancement, and job security; that may influence employees desire to stay.