...Improving Employee Retention within the Non-Profit Sector Introduction Employee retention is a key issue for the non-profit sector. In the book The Race for Talent: Retaining and Engaging Workers in the 21st Century, Frank, Finnegan, and Taylor (2004) define employee retention as “the effort by an employer to keep desirable workers in order to meet business objectives.” In the non-profit sector, meeting business objectives means hitting fundraising goals while keeping business expenditures at a minimum. Keeping skilled workers on staff is much more cost effective than hiring new employees. In the current business climate, hiring and training new employees is a costly process. It is imperative that an organization enact provisions to retain high quality, skilled employees on staff. Reducing staff turnover rates can have a direct positive effect on an organization’s bottom line. In recent years companies have begun to focus on employee retention. In a 2004 report Pricewaterhouse Coopers stated that “CEOs at the nation’s fastest growing companies overwhelmingly cite retention of key workers as the most critical factor to plan for in the future.” Companies are now becoming aware that employee retention is a top priority. This has lead to increased focus on the reasons employees leave. Many employers think that turnover has to do with low pay. Of course, money is important to employees, but there are several other factors that lead to the loss of employees...
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...Bad…………………………………………………………………………..9 Human Resources Sample Key Indicators 10 Recruitment 10 Employee Development 10 Finance & Business KPIs…..………………………………..…………...................................... 11 Health & Safety KPIs………………………………………………………………………………..13 Environmental KPIs………………………………………………………………………………….14 Conclusion………………………………………………………………………….…………………..15 References…………………………………………………………………..………………………… 16 Group Introduction Shehryar Qureshi 082428 Awais Saeed 101813 Sanam Sultan Rana 083404 [pic] Introduction: Key Performance Indicators, also known as KPI or Key Success Indicators (KSI), help an organization define and measure progress toward organizational goals. Once an organization has analyzed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. Key Performance Indicators are those measurements. Performance management is an activity conducted by the human resource department and includes tasks to ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on performance of an organization, a department, processes to build a product or service, employees, etc. In this task the human resource department in the organization makes an effort to map the goals and objectives of the individual with that of an organization and then gauges the overall efficiency and...
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...to ensure that an organization has the workforce to meet the challenges of today and to build for the challenges of tomorrow. Changing demographics and increased competition for qualified employees makes workforce planning critically important to the future of any organization. The development of a workforce plan requires an analysis of the companies positions; a review of present workforce competencies; an identification of skill requirements needed in the future; a comparison of present workforce needs to identify gaps and surpluses; strategic plans for building the workforce needed in the future; review and an evaluation process. It enables an organization to adjust and respond quickly to immediate and future changes to its business requirements. In its simplest terms, workforce planning is the process of ensuring the “right people are in the right place at the right time” to accomplish the mission and goals of the organization. The objective of this five (5) year workforce analysis is to determine the sample company's (ASC) present and future human capital needs, in order to achieve its strategic business goals set out below. ASC in an Analyzer style company that has been in operation for approximately 50 years. This company currently operates three core sectors; manufacturing, technology and technology/manufacturing. The manufacturing sector (1), which has been producing a core product line for 25 years, is experiencing a steady decline in profits of 10% a year over...
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...Compensation Management Q1.a. What is the role of compensation and rewards in modern organization? What arethe advantages of a fair compensation system? Ans1a. Role of Compensation and Reward in Organization: Compensation and Reward system plays vital role in a business organization. Since, among four Ms, i.e Men, Material, Machine and Money, Men has been most important factor, it is impossible to imagine a business process without Men. Land, Labor, Capital and Organization are four major factors of production. Every factor contributes to the process of production/business. It expects return from the business process such as Rent is the return expected by the Landlord. similarly Capitalist expects Interest and Organizers i.e Entrepreneur expects profits. The labour expects wages from the process. It is evident that other factors are in-human factors and as such labour plays vital role in bringing about the process of production/business in motion. The other factors being human, has expectations, emotions, ambitions and egos. Labour therefore expects to have fair share in the business/production process. Advantages of Fair Compensation System: Therefore a fair compensation system is a must for every business organization. The fair compensation system will help in the following: 1. If an ideal compensation system is designed, it will have positive impact on the efficiency and results produced by workmen. 2. Such system will encourage the normal worker to perform...
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...Causes and Effects of Employee Turnover in Private Bank (A Case Study) Department of Business Administration Leading University, Sylhet Report On Causes and Effects of Employee Turnover in Private Bank: A Case Study Course code: BUS-322 Course Title: International Business Submitted to Syed Towfiq Mahmood Hasan Assistant Professor Department of Business Administration SUST, Sylhet, Bangladesh Submitted by Faglul Karim Raihan ID: 1001010142 Sec-C, 8th Semester (24th Batch) Department of Business Administration Leading University, Sylhet Date of Submission: September 29, 2012 ------------------------------------------------- LETTER OF SUBMISSION September 29, 2012 Syed Towfiq Mahmood Hasan Assistant Professor Department of Business Administration SUST, Sylhet, Bangladesh Subject: Letter of Submission. Dear Sir, It is an enormous pleasure to submit my report titled “Causes and Effects of Employee Turnover in Private Bank: A Case Study” assigned as a requirement of our course related. In preparing this assignment I have acquired much knowledge about employee turnover. I have tried my best to furnish the assignment with relevant data, which I had to collect from online and related journal. I hope this assignment will help the banking sector to gather some insights on the windows to do further studies in this aspect. I would like to convey my tributes to you and thank you for giving...
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...November 12th, 2011 SUBJECT: Decreasing the Turnover Rate within the Workplace Attached you will find my proposal for the type of employment policies that may be more effective and should be implemented in order to decrease the companies’ turnover rate. This proposal will address the length of service of an employee and why it may affect the decisions for a reduction within the workplace in a non-union organization. Discussed is why management should consider in gender, race, age, and other “protected class” designations when making reductions within the place. The role of ethics and values is conversed. This proposal will conclude with recommendations to the key decision maker about employment policies that should be implemented. As a Financial Analyst for Diversified Investment Advisors, I find that there is an extremely high employment turnover rate. That is, employees are always getting hired than laid off and or fired almost like clockwork, then rehired and laid off again. I do not understand the effectiveness and rationale for such a method. I also notice the number of complaints, lawsuits, and overall issues surrounding this mythology. I would like to formulate recommendations to key decision makers about the type of employment policies that may be more effective and should be implemented. However, in order to apply the most appropriate turnover reduction strategies, management must first determine the cause of turnover behavior. To facilitate this, management needs...
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...Abstract Nowadays, workplace bullying becomes one of the major unethical issues in organizations. Workplace bullying expressed as unethical behavior or unethical business practice in organizations. Bullying in workplace is unhealthy, mistreatment and unfair supervision for one employee, by one or more employees and employers. The unhealthy, mistreatment and unfair supervision is form as violence that prevents somebody or employee to perform in his / her works. This issues being popular and serious problem among researcher. In addition, it will demonstrate negative impact to categories such as individual, team and organizations as well as to country. In this study, the problem of workplace bullying will be explored by using several of review papers / articles. The purpose of the study is to determine the potential factor or causes of workplace bullying on employees. Other than that, this study also wants to explore what is workplace bullying and unethical behavior as well as its consequences or the effect to individual and organization. Furthermore, the relationship or correlations between workplace bullying and unethical behavior will be identify. The review papers / articles taken between year 2010 and 2015. The conclusion and recommendation for this study are provided as purpose to further study and research. Keywords: Workplace Bullying, Unethical Behaviors 1.0 Introduction This study includes two sections which are background of the study that will explain the unethical...
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...RESEARCH PROPOSAL ON CAUSES OF EMPLOYEE TURNOVER ABSTRACT This proposal is aimed at conducting a study to investigate the causes of employee turnover. Proposed study will use different research articles to develop a model which shows that employee satisfaction, employee motivation and employee involvement has an impact on employee turnover. Introduction to Proposed Research Title CAUSES OF EMPLOYEE TURNOVER: Background of Study Employee turnover is the number of permanent employees leaving the company within the reported period versus the number of actual active permanent employees on the last day of the previous reported period. Five reasons due to which employees leave organizations: 1. The most common reason why employees leave a certain organization is that they see better opportunity elsewhere. Man has a growing desire to own more things and better pay can give them this. Apart from that, they are compelled to look for better pay because of financial needs. 2. Another reason could be that the employees are not happy with the organization. There are cases when employees leave the company even if they offer competitive salaries. This is because of the organization itself. The employee does not approve of the management style and they are unhappy with the culture of the organization. These factors can cause employees to say goodbye to the organization. 3. There are also cases when the...
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... Table of Contents Executive Summary……………………………………………………………………………3 Balanced Scorecard for Starbucks Coffee Company-Figure…………………………………..4 Vision Statement…………………………………………………………………………….…5 Mission Statement…………………………………………………………………………...…5 Values................................................................................................................................…….5 Balanced Scorecard for Starbucks Coffee Company………………………………………….6 Financial Perspective ………………………………………………………………………….6 Customer Perspective………………………………………………………………………….8 Internal Perspective……………………………………………………………………………9 Employee Learning and Growth……………………………………………………………...11 Conclusion……………………………………………………………………………….……13 References…………………………………………………………………………………….14 Appendix……………………………………………………………………………………...16 Executive Summary The balanced scorecard is a technique that helps organizations to implement strategies to reach their mission and vision. In this paper, I will discuss a balanced scorecard that managers of Starbucks Coffee Company should use to measure their business. The first store of Starbucks opened in Seattle, Washington. Jerry Baldwin, Zev Siegl and Gordon Bowker got the idea from Alfred Peet. At first, only coffee beans and coffee making equipment were being sold, but after 10 years Howard Schultz was hired as Director of Retail Operations and he wanted to sell coffee as drinks. When he could not convinced the owners he went his way to open his own coffee shops. Baldwin...
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...RESEARCH PROPOSAL ON CAUSES OF EMPLOYEE TURNOVER ABSTRACT This proposal is aimed at conducting a study to investigate the causes of employee turnover. Proposed study will use different research articles to develop a model which shows that employee satisfaction, employee motivation and employee involvement has an impact on employee turnover. Introduction to Proposed Research Title CAUSES OF EMPLOYEE TURNOVER: Background of Study Employee turnover is the number of permanent employees leaving the company within the reported period versus the number of actual active permanent employees on the last day of the previous reported period. Five reasons due to which employees leave organizations: 1. The most common reason why employees leave a certain organization is that they see better opportunity elsewhere. Man has a growing desire to own more things and better pay can give them this. Apart from that, they are compelled to look for better pay because of financial needs. 2. Another reason could be that the employees are not happy with the organization. There are cases when employees leave the company even if they offer competitive salaries. This is because of the organization itself. The employee does not approve of the management style and they are unhappy with the culture of the organization. These factors can cause employees to say goodbye to the organization. 3. There are also cases when the...
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...Turnover is a serious problem for business today. Many companies are finding it more difficult to retain employees as the economy and job market improves. Baby boomers are also retiring in increasing numbers. The employment culture is changing as well. It is now common to change jobs every few years, rather than grow with one company throughout one’s employment life, as was the case with our fathers and mothers. Employees are also increasingly demanding a balance between work and family life. Turnover costs for many organizations are very high and can significantly affect the financial performance of an organization. Direct costs include recruitment, selection and training of new people, with a phenomenal cost of time and expense. Indirect costs include increased workloads and overtime expenses for coworkers and reduced productivity associated with low employee morale. Costs vary from organization to organization, some as low as a few hundred dollars to as high as four times the annual salary of the employee. This tool can help you calculate the cost of replacing an employee. It has been estimated that, on average, it costs a company one-third of a new hire’s annual salary to replace an employee. At Missouri’s 2015 minimum wage of $7.65 an hour, the cost to replace just one employee is more than $5,000. Causes. 1. Rude behavior. Studies have shown that everyday indignities have an adverse affect on productivity and result in good employees quitting. Rudeness, assigning...
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...for measuring and reporting performance while balancing financial and non-financial measures. The balanced scorecard links performance to rewards and gives recognition to the link between performance measures and organizational goals and objectives. The development of the balanced scorecard is accredited to Robert Kaplan and David Norton as they determined key performance indicators to include: Financial, customers, internal business processes, innovation and learning. With the flexibility of the balanced scorecard performance indicators are easily tailored to the organization using the BSC (Horgren, 2011). WHY THE CHANGE Historically our organization has measured success purely based on our financial perspectives. Financials are certainly a large concern for our organization however they are not our only concern. In order for our company to be truly successful other business characteristics should be in the forefront of all our minds. Several of these “other” business characteristics include non-financially focused items like customer satisfaction, employee satisfaction and retention rates, employee training, innovation and learning opportunities, as well as streamlining business processes (Horngren, 2011). These other activities have a large potential for generating profit for our company in the long run. By excelling within these categories there is better potential for our business to excel in profit and prestige. I encourage all senior managers to reflect on how your...
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...Organizational chart will be provided. The agency that was selected to be analyzed is a public governmental agency which was established in 1975 to aide families and persons who experience financial hardships and need assistance in obtaining basic necessities such as food and shelter to become self-sufficient. The organization also administers federally funded programs to aid individuals in obtaining medical assistance, financial stability through Family Investment Services and Nutritional needs through a food funding program. The organization further delegates other state programs for homeless people, child and adult protection and investigation, as well as programs extended for women victims of domestic violence. The organization’s mission is to aid and pursue those who are struggling economically, provide preventative services and protect defenseless children and adults. The organization’s governance comes from the Public Information Act (PIA) and this act allows the public access to public records while ensuring governmental protection of legislatures and privacy of those citizens who are served. There are 24 local departments incorporated within the organization which each department governs a particular program. It is organized into 7 Budget units which governs and supports services...
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...2 Excessive Turnover 2 General Turnover 2 Critical Employee Turnover 3 Turnover in Low to Moderate Level 3 Motivation 3 Innovation 3 Relationship between Employee Turnover and Performance 4 Employee Retention 4 Significance 4 Job Satisfaction 5 Embeddedness 5 Others 6 Conclusion 6 Reference 6 Introduction Following the process of globalization which is increasingly developing, consequent fierce competition brings about frequent phenomenon of turnover in organizations (Liu et al., 2011). According to the statistic data that showed by Meier and Hicklin (2007), the turnover rate of U.S. federal government was 16.1% from 2003 to 2004, that of Dutch temporary employment agencies was 14.2% in 2005 and that of trucking even reached 41% in 2005. Currently, employee turnover is still lacking of attention in many aspects, such that most previous researches were focused on the reasons of turnover, but paid less attention to the effect of turnover (Ton & Huckman, 2008). The emphasis in this essay is that high employee turnover damages organization performance for increasing cost and causing critical employee leaving, while moderate level of turnover benefits organization performance for improving innovation and motivation, employers should focus on enhancing employee’s job satisfaction and embeddedness for retaining their employees. This essay has four parts. In the first and second part of the essay, both effect of excessive turnover and moderate turnover would be discussed...
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...feel Harrah’s was their “home away from home”. (Delong & Vijayaraghavan, pg 2). Gary Loveman, President and COO, knew that they wouldn’t succeed in the marketing piece if they ignored their people. This meant improving customer service and getting creative with ways to achieve such. Marilyn Winn, head of Human Resources, was brought into Headquarters to help him implement his plan, after successfully running operations in the Shreveport, Louisiana casino. Winn was task with recreating the human resources function under Satre & Loveman’s image, which included a heavy focus on improving turnover. They both knew it would be impossible to deliver the ultimate customer satisfaction without a stable workforce. Harrah’s then implemented a new reward system for its employees. The incentive program had a two-pronged purpose: improve customer service and raise employee retention rates. The basis of the plan was to serve as motivation to improve...
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