Premium Essay

Importance Of Staff Retention

Submitted By
Words 940
Pages 4
Staff retention is one of the most critical issues facing managers in today’s organizations as a result of the shortage of skilled manpower, economic growth and high employee turnover (Michael, 2008). Whereas it is important for organizations, through the employment process, to attract and retain quality staff to the organization, it is more important for managers to device strategies with which to retain the talented employees in the service. Retaining quality staff is important for purposes of organizational performance as well as avoiding the costs of replacing the staff. In the current competitive environment, leaders have to steer their organizations in the most competitive business environment (Ng’ethe, 2012). The ability of leaders to handle the challenge is highly dependent on the value placed on employees as assets and as the ones poised to give the organization the competitive advantage. This competitive advantage will be guaranteed if the core employees are retained for as long as possible so that continuity of good performance is assured. …show more content…
But as job mobility and voluntary job changes begun to increase dramatically, employers found themselves with the problem of employee turnover and a matching management tool known as employee retention begun to be developed (McKeown,

Similar Documents

Premium Essay

Managing Retention and Absenteeism

...1. Abstract Managing retention and absenteeism is an important task for every company or employer. It can be assessed as a process with few stages. This paper will look at identifying the cost of employee turnover, importance of understanding why employee leaves, retention strategies and how they should be implemented. The first step of an effective attendance management program is to identify specific areas which are affecting attendance. Some general causes of absenteeism will be mentioned later in this paper. 2. Background The importance of this briefing paper is to summarize all gained information, knowledge and facts regarding to issues in Managing retention and absenteeism in business, preparation to write an individual academic paper and to give a brief idea how it will be approached. In Managing retention and absenteeism is necessary to cover following areas: • Absenteeism • Sickness absence • Employee turnover • Staff retention strategies • Staff retention and management of knowledge • Benefits of staff retention 3. Findings 3.1 What the assignment is asking me to do The definition of absenteeism according to Mathis and Jackson (2005) is any failure to report for work as scheduled or to stay at work when scheduled. They divide absenteeism into 2 groups: voluntary, that is unavoidable and voluntary, avoidable. The sickness absence can be short - term (repetitive) or long term illness. CIPD’s Absence Management Survey (2011) revealed for the first...

Words: 1589 - Pages: 7

Premium Essay

Fdfsdfsdf

...Introduction In this task , I will write a brief report , assessing the importance of employability and personal skills in the recruitment and retention of staff in a selected organisation The importance for the organisation when people possess the necessary skills Employability skills The benefits of having employees with good employability skills would help the organisation become more successful. People who have past experience are essential towards the organisation where these would show them they are valuable employees. These skills would create awareness within the organisation where this consistently reveals how importance it is to have these skills; Beside that , from the benefit of this, the employees could get a promotion for a higher job role. Furthermore , , it would help to increase people commitment towards the business if they are enabling to study for qualifications where it would show determination and motivation of the workforce. . More importantly , the organisation has many choices to choose from where people with the right skills are more likely to get the job . The disadvantages of people who have employability skills to the organisation are, some employees do not have all the skills and the majority of people cannot do some of the extra task that are set for them. Moreover, not having good employability skills shows the employees are not capable to engage work fully (hard-working) where regardless of the job; the employees could have difficulties...

Words: 744 - Pages: 3

Premium Essay

Nurse Retention

...RETENTION RESEARCH PAPER Nurse Retention 07/28/08 Contents Introduction Literature review Plan of action Discussion Conclusion Introduction The priority goal of every hospital leadership team is to develop and retain a stable workforce that provides high quality patient care (Missouri Hospital Association [MHA], 2005). Nurse retention and recruitment are the top issues that all health organizations are facing in nowadays. They most effectively develop strategies not only to recruit nurses, but to retain experienced and knowledgeable bedside nurses who will deliver an excellent care. Practical retention plans and strategies are crucial to the financial and quality outcomes of an organization (Golden, 2008) Factors that are contributing and affecting nurse retention and consequently causing workforce disruption are related to high turnover, aging workforce, and job dissatisfaction. Literature Review Turnover is costly to an organization, creating significant financial burdens and affecting morale and clinical quality (Golden, 2008). Although the full impact of staff nurse turnover on hospital costs has not been assessed, costs associated with recruitment and hiring, personnel processing and training of new nurses are known to significantly increase as result of high turnover (Weisman, Alexander&Chase, 1981). There are several factors that contribute to hospitals currently high turnover...

Words: 1632 - Pages: 7

Premium Essay

Nurse Retention

...RETENTION RESEARCH PAPER Nurse Retention Herbert Albert Health Sciences Center School of Nursing 07/28/08 Contents Introduction Literature review Plan of action Discussion Conclusion Introduction The priority goal of every hospital leadership team is to develop and retain a stable workforce that provides high quality patient care (Missouri Hospital Association [MHA], 2005). Nurse retention and recruitment are the top issues that all health organizations are facing in nowadays. They most effectively develop strategies not only to recruit nurses, but to retain experienced and knowledgeable bedside nurses who will deliver an excellent care. Practical retention plans and strategies are crucial to the financial and quality outcomes of an organization (Golden, 2008) Factors that are contributing and affecting nurse retention and consequently causing workforce disruption are related to high turnover, aging workforce, and job dissatisfaction. Literature Review Turnover is costly to an organization, creating significant financial burdens and affecting morale and clinical quality (Golden, 2008). Although the full impact of staff nurse turnover on hospital costs has not been assessed, costs associated with recruitment and hiring, personnel processing and training of new nurses are known to significantly increase as result of high turnover (Weisman, Alexander&Chase, 1981). There are several...

Words: 1640 - Pages: 7

Premium Essay

Business

...Retention of Mental Health Staff in a Non-Profit Organization Employee retention has been a long talked about and researched subject. Finding the answer to this issue can become even more challenging when working in the mental health field, where the pay is at best, average, and it can be difficult to help clients reach their goals due to the many rules and regulations that govern the multiple systems. Focusing on the retention of mental health staff will increase the likelihood of the vision being carried out. Utilizing concepts of leadership such as, having a shared vision, integrity, and being committed to staff development will assist leaders with mental health staff retention in a non-profit organization. Vision One belief that stood out for Robert Greenleaf was that if something great was going to happen, a leader must have a great dream. Nothing much will happen without it. Also, it is important to make big plans, so that they have the power to get others interested, otherwise the plans will never be realized (Frick & Spears, 1996). Jones (1996) gives an example of the importance of having a vision through the story of Jesus. Jesus had a higher vision and offered that to the people by telling them to follow him; he would teach them to fish, so they would never be hungry again. Jesus had many followers because he was offering people something larger than themselves; this, according to Jones (1996), is what people hunger for. Maxwell (1993) gives a more modern...

Words: 2146 - Pages: 9

Premium Essay

M2 Unit 2 Business

...M2 – Assessing the importance of employability and personal skills in the recruitment and retention of staff at Asda In this report I am going to be assessing the importance of employability and personal skills in the recruitment and retention of staff at Asda. Asda are looking for an employee with essential employability skills for the job such as experience dealing with customers. Asda are looking for this skill because you will be dealing with customers constantly throughout the day and may have to deal with customer complaints and queries, it is also cost effective for the company if you already have experience rather than them spending money to put you into training which may not be the best thing for them this is because if they keep putting people into training and they don’t enjoy the job and leave or get fired then Asda will have wasted their money, where as if they find people that already have the experience of dealing with customers they can work straight away and Asda will not have to pay for their training which would save them time and money. Only those suitable for the job will get through to interviews. Asda need to ensure that their staff has a minimum C grade in maths and English at GCSE level. The employer can find this in the application form within the personal statement. From this stage, when accepted, suitable applicants make it to the interview stage where they are assessed on their interview skills, in the interview the interviewer may ask you about the...

Words: 717 - Pages: 3

Premium Essay

Unit 1

...Edexcel BTEC Level 3 Subsidiary Diploma in Business Unit 2:Start date:Deadline date:Assessment feedback will be provided by:Assessor: | Business Resources | Unit Code:QCF Level 3:Credit Value:Guided Learning hours: | D/502/5409BTEC National1060 | Assignment 1 – ‘Human Resources’Purpose Learning OutcomesAfter completing this unit, you should: * Know how human resources are managed * know the purpose of managing physical and technological resources * Know how to access sources of finance * Be able to interpret financial statements.You are applying for a customer service job at the Tesco store in Ilkley. | Task 1Tesco are currently employing customer service staff for the store in Ilkley. Describe the recruitment documents Tesco should use. * Briefly describe what the recruitment process is. * Describe what a job advert is and how it is used at Tesco. * Describe what a job description is and how it is used at Tesco s. * Describe what a person specification is and how it is used at Tesco * Describe what an application form is and how it is used at Tesco. * Produce a Job description for the customer service job at Tesco * Produce a Person specification for the customer service job at Tesco (This provides evidence for P1) | Task 2You decided to apply for the position of customer service assistant at Tesco in Ilkley and have been short listed to attend an interview for the job vacancy. You take part...

Words: 842 - Pages: 4

Premium Essay

Factors Influencing Customer Retention in Banks

...will always wish to consume that product, from the same supplier .Banks as it is in any other business enterprises focuses much on retention of its customers and making them royal to their Bank The rapid growing Banking industry and other financial institutions in Tanzania has lead to increased competition in wining customers and hence banks are struggling to retain their customers them .there is increasing evidence of the benefits of service management in service organizations. For example the benefits of maintaining long term relation ship with customers through quality performance and customer satisfaction has lead to marketing strategies to focus on defensive strategies that are based on retaining customers.For these reasons they have focused on relationship marketing to improve retention and customer relationship with service organizations. 1.2 STATEMENT OF THE PROBLEM Customer retention the activity that a selling organization undertakes in order to reduce customer defections. various studies has been done to explore the factor tha influence of customer retention . 1.3. Objectives of the study The following will be the objectives of the study: i. To find out the factors that may hinder customer retention in an organization. ii. To identify the activities undertaken by the organization to improve customer retention. iii. To identify the role of employees in retaining customers. iv. To determine the problems facing customers and give possible...

Words: 1446 - Pages: 6

Premium Essay

Manager Retention

...UNLV Theses/Dissertations/Professional Papers/Capstones 5-1-2007 Manager retention and the Steamboat Ski Resort Michael D. Gumbiner University of Nevada, Las Vegas Follow this and additional works at: http://digitalscholarship.unlv.edu/thesesdissertations Part of the Hospitality Administration and Management Commons, and the Work, Economy and Organizations Commons Repository Citation Gumbiner, Michael D., "Manager retention and the Steamboat Ski Resort" (2007). UNLV Theses/Dissertations/Professional Papers/ Capstones. Paper 481. This Professional Paper is brought to you for free and open access by Digital Scholarship@UNLV. It has been accepted for inclusion in UNLV Theses/ Dissertations/Professional Papers/Capstones by an authorized administrator of Digital Scholarship@UNLV. For more information, please contact marianne.buehler@unlv.edu. MANAGER RETENTION AND THE STEAMBOAT SKI RESORT by Michael D. Gumbiner Bachelor of Arts California State University Fullerton 1987 A professional paper submitted in partial fulfillment of the requirements for the Master of Hospitality Administration William F. Harrah College of Hotel Administration Graduate College University of Nevada, Las Vegas May 2007 1 PART ONE Introduction The material for this paper centers on the Steamboat Ski Resort Corp. The ski resort was chosen for this study because of its need for a management retention plan. Steamboat was ranked as a top 10 international ski resort in North America...

Words: 9335 - Pages: 38

Free Essay

Business Assistance Programming Offered by Chambers of Commerce

...information and economic development services offered by local Chambers of Commerce. The data for this White Paper comes from a scientific web-based survey of 1,265 Chambers of Commerce nationwide.1 Chambers were randomly selected from those organizations that are active members of the United States Chamber of Commerce. The study examined five (5) components: 1. 2. 3. 4. 5. Organizational Structure Services Provided Data & Information Hospitality, Conventions and Tourism Professional Association Participation Key TAKeAWAyS: • Both perceived and real value is the basis of membership development and retention. Utilizing plant/site visits, coordinating them with local elected officials is a key method of establishing an understanding of the local business mix as well as establishing a basis for membership development and retention. These visits offer opportunity to put a company’s best foot forward as well as being able to observe if there are issues that need resolution or threaten the company’s viability. • Offering business counseling can be time consuming, but it also creates a bond between the company and the...

Words: 2063 - Pages: 9

Premium Essay

Talent Management in the Workplace

...management strategy for a SME. The company has a high labour turnover, the essay will consider the strategies and theories related to talent management, examples and a business case for a talent management strategy.“Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organisation, either in view of their high potential for the future or because they are fulfilling business/operation critical roles”.(CIPD, 2012). This strategy aims to develop plans that attract high quality external candidates as well as the identifying and retention of the internal workforce, getting the optimum balance between external and internal candidates is difficult, some firms prefer to use their existing workforce as this helps drive individuals to increase their skills and increases work satisfaction, however concentrating on a narrow internal group of candidates alienates the possibility of high calibre external candidates who can inject new ideas into the organisation.(Beardwell & Claydon, 2010). The Company needs to have a clear talent management strategies and recognise its strategic importance to the organisation whilst acknowledging the difficulties of talent management in a world of different expectations by employees. Employees and employers no longer expect jobs will be for life and the younger Generation Y workers expect to change jobs more frequently to enhance their careers. (Hautem...

Words: 2283 - Pages: 10

Premium Essay

Personal Development

...job retention management. Motivation can be defined as: the force which gives the direction to perform a task; the will to achieve (Bedeian, 1993). Motivation is the force which drives the employees to achieve their personal and organizational goals. Higgins (1994) perceived job motivation as the internal drive to satisfy an unsatisfied need. Understanding the importance of the relationship between job motivation and employee retention makes it easier to manage the workforce in an organization. Each employee is a valuable asset in which the success of an organization is depended; therefore it is crucial to retain the employees by motivating them in their work environment. Nowadays people decide on staying with the organizations not only considering the monetary compensation and benefits, but also on how much they are inspired by their job. Therefore, at instances where the motivation level of an employee change there will be an impact on job retention. Since this research will be conducted in the field of human resources management relating to investigating and understand the relationship between job motivation and employee retention, job satisfaction can be considered as a key concept. In today’s highly competitive labor market employees are considered as the key factor which determines the organization's success despite of its financial and other resources. Therefore, organizations face issues regarding employee retention. Even though there are retention practices...

Words: 623 - Pages: 3

Premium Essay

Functional Areas of Business

...specific role and level of importance within a given organization. Even though it’s hard to measure one against another, some functional areas of business are more of a driving force than others. The two catalysts of success for managers begin with human resources management and leadership. In the last several years, “(CEOs) have increasingly emphasized the need for their firms to effectively attract, motivate, develop and retain talent (Wright, 2011, p. 93).” This role is filled by the human resources management team (HRM). This management role is tremendously challenging and forged with various members within the organization, mostly with managers. This is due in part because the HRM team staffs the manager with prospective employees. The HRM staff have a crucial role within the organization to hire “employees who share the company values, proving their expertise in business and an appropriate moral profile (Cruceru, 2010, p. 80).” HRM teams need to consider this when making all of their decisions, and making sure they have the hiring manager in mind so proper fit can be attained. The most important goal for the HRM team is not getting prospective top notch employees through the door, it’s retaining the staff once acquired. The importance of retention is imperative to the future success of the organization because of time and money invested in the education and training of the employee. The HRM team has a variety of ways to retain staff so...

Words: 930 - Pages: 4

Premium Essay

Mall Strategies

...Title A study of marketing strategy of shopping centre for customer retention in Hong Kong Author(s) Chu, Ka-wai; Citation Issue Date 2009 URL http://hdl.handle.net/10722/128605 Rights The author retains all proprietary rights, (such as patent rights) and the right to use in future works. A STUDY OF MARKETING STRATEGY OF SHOPPING CENTRE FOR CUSTOMER RETENTION IN HONG KONG by CHU KA WAI DISSERTATION Submitted in partial fulfillment of the requirements for the degree of Master of Housing Management The University of Hong Kong December 2009 DECLARATION I declare that this dissertation, entitled A study of marketing strategy of shopping centre for customer retention in Hong Kong, represents my own work, except where due acknowledgement is made, and that is has not been previously included in a thesis, dissertation or report submitted to this University or other institution for a degree, diploma or other qualification. CHU KA WAI ii ACKNOWLEDGEMENT I wish to express my sincere gratitude to my supervisor, Dr. Eddie Hui, for his professional guidance and support. He has provided many valuable advices and opinions during my preparation of this research paper. Moreover, I would like to thank my interviewees for their valuable time to fill in the questionnaire. They made a lot of contributions in my data collection. I also want to take this opportunity to thank my friends, family and colleagues for their unfaltering...

Words: 18240 - Pages: 73

Premium Essay

Assignment 1

...|Assignment front sheet | |Learner Name |Assessor Name | | | | |Date issued |Hand in Date |Submitted on | | | | | |Qualification |Unit number and title | |BTEC Level 3 Extended Diploma/ Subsidiary Diploma in Business |Unit 2: Business Resources | |Assignment no and title | Assignment 1 : Know how human resources are managed | |Criteria reference|To achieve the criteria the evidence must show that | | |Task No ...

Words: 596 - Pages: 3