Literature Review Employee Retention - 1187 Words

Literature Review Employee retention Employee retention has become a serious and confusing problem for all types of organizations. Managing retention and keeping the turnover rate below target and industry norms is one of the most challenging issues that face businesses. From all indications, the issue will compound in the future, even as economic conditions change. Employee retention will continue to be an important issue for most job group in the first decade of the 21st century. In hospitality industry, employee retention is the most important target for the hotels because hiring qualified employees is essential for hotels but their retention is more important than hiring, because a huge amount of money is spent on the orientation and training of the newly hired employees. Employee retention is the existence of an ongoing employment relationship. The retention of employees has become a leading challenge faced by many organizations worldwide. Consequences such as the high cost of recruitment and selection, the possible loss of productivity during the adjustment period, the probable loss of business opportunities, poor customer rapports as well as the hidden cost of lost productivity have drawn organizations attention to the magnitude of retention. Maintaining a stable workforce is one of the key sources of sustainable competitive advantage for organizations. Retaining employees is cheaper than recruiting replacements. Retention is a complex concept and there isShow MoreRelatedEvaluation Of The Employee Retention Rate At The Greater Minneapolis Crisis Nursery1496 Words   |  6 PagesBeckenbach, WRIT 3140 Student DATE: October 15, 2016 SUBJECT: Literature Review Defining the Problem Last week you asked me to give you a detailed report of the employee retention rate at the Greater Minneapolis Crisis Nursery as well as the retention rate at similar organizations across the nation. As you know, the Greater Minneapolis Crisis Nursery’s employee retention has been an on going problem for the Nursery. With the employee turnover rate averaging as a high as 84% in Children’s ServicesRead MoreLeadership Styles And Staff Retention1156 Words   |  5 Pages1.0 Title The working title of this research is initially drafted as – Leadership Styles and Staff Retention: How leadership styles affect staff retention? 2.0 Background of the Study Leadership is an incremental component that centers the existence, survival and functioning of any group or organisation. Indeed, the organisations recognise that their success is highly-dependent upon the quality and effectiveness of this dimension. There are two main functions that leaders are bounded to performRead MoreEmployee s Lack Of Job Satisfaction Essay1637 Words   |  7 PagesA hole is left the absence of an employee either by termination or quitting by choice (Kaur Vijay, 2016). High employee turnover leaves more holes the employer has to address and becomes expensive (Likhitkar Verma, 2015). An average cost of $3, 328 to search, hire and train the replacement for a $10 per hour employee (Sadler Evans, 2016). A median turnover rate of 67% for part-time employees is roughly half of the cost if not more (Oviedo-Garcia Vega-Vazquez, 2014). Most companies areRead MoreLiterature Review. While There Has Been Research In Subjects1028 Words   |  5 PagesLiterature Re view While there has been research in subjects dealing with turnover, things such as organizational strategies have not been studied much. Davis (2013) has stated that there is little research on the strategies employers do to minimize turnover. There have been different studies that have researched different factors in employee turnover and satisfaction. Studies have been done on the retention and turnover of older workers (Armstrong-Stassen Ursel, 2009), developing retention policiesRead MoreThe Demand For Health Care Personnel And The Supply Of Their Services1323 Words   |  6 Pagestoo. According to the Joint Learning Initiatives Report by the Global Health Trust, â€Å"The heart of the health system in any country† lies in its human resources, the health care worker. Additional ways healthcare human resources are referred to in literature is â€Å"the most important aspect of health care systems†, as well as â€Å"a critical component in healthcare policies†. All these definitions go to show how much importance is placed on human capital in the healthcare industry. In fact, there exists anRead MoreRecruitment And Retention Of Nurses1404 Words   |  6 PagesRecruitment and Retention in Nursing As the forthcoming nursing shortage threatens the United States, organizations must be knowledgeable in the recruitment and retention of nurses. The challenge facing health care organizations will be to retain sufficient numbers of nurses to provide safe, efficient, quality of care to patients. Also, organizations will look to recruit and attract quality nurses to fill vacancies left open by staff who left the profession due to burning out. Turnover in NursingRead MoreNursing and The Organizational Culture of Human Resource Management1495 Words   |  6 Pagesbeen prior studies that have linked organizational culture to the decrease in nurse turnover rate and the increase of nurse retention. It is important that there is an adequate nursing workforce supply in order to achieve quality patient care. Nurse managers play a pivotal role in the organizational culture with in their unit of division. This article provides a literature review of organizational culture and its link to n ursing and the health care profession as a whole. I. Introduction PeopleRead MoreTopic:. How Do Leadership Styles Influence On The Employee856 Words   |  4 PagesTopic: How do leadership styles influence on the employee retention of the organisations in major U.K. airline industry? Background: The rapid change of the world economy has led to grate pressure downward on travel require, increase on fuel prices, stimulated from the expansion of low-cost carrier company, and increased competition, all of them cause many challenges for existing airline companies. In order to respond, airlines have launched new tactics in order to improve efficiency and reduce internalRead MoreHuman Relations, Employee Retention And Organizational Culture1687 Words   |  7 Pagesvarious social realities and phenomena of which his social world is besotted or by which he or she is intrigued (Sarantakos, 2005). This preceding chapter examined through in-depth discourse of extant literature, the nature and relationship between the study variables (human relations, employee retention and organizational culture); with previous research studies closely examined with regards to identifying relationship patterns or attributes; this chapter examines the relative methods and techniquesRead MoreNursing Retention Through Residency Programs971 Words   |  4 PagesNursing Retention through Residency Programs: A Literature Review Shannon G. Stone, MSN, RN, CCRN, SCRN Texas Tech University Health Sciences Center School of Nursing In partial fulfillment of the requirements of NURS6330 Evidence Based Inquiry I Jeannette Crenshaw, DNP, RN, LCCE, FACCE, IBCLC, NEA-BC, FAAN September 27, 2015 Nursing Retention through Residency Programs: A Literature Review A great cause for concern in today’s healthcare system is the shortage of nurses. The shortage