Costs for employee turnover on the average (average employee's salary, mid-size organization) are generally 150% of the employee's annual salary. Clearly, the organization with the least employee turnover is the organization that will realize the most profit and the most productivity. There are methods of avoiding employee turnover which have only been briefly touched upon within the scope of this present research but are methods that hold promise for the organization in the reduction of employee turnover and the costs in terms of finance and productivity the organization suffers due to employee turnover.
Bibliography
Berger, L.A. And Berger, D.R. (2004) the talent management handbook: Creating Organizational excellence by Identifying, developing, and promoting your best people. New York: McGraw-Hill.
Bliss, William G. (2007) Cost of Employee Turnover - the Advisor. Online available at http://www.isquare.com/turnover.cfm.
Thomas, R.; Hutcheson, J.; Porterfield, J.; and Pierannunzi, C. (1994) the...
Key Workplace Documents - Federal Publication. 1994 Cornell University.
Latest BLS Employee Turnover Rates for Year Ending August 2006 (2006) Retention Management and Metrics. Nobscot Corporation. Online available at http://www.nobscot.com/survey/index.cfm.
Zahorsky, D. (nd) Fighting Employee Turnover Costs. Small Business Information. Online About: Small Business Information. Located at http://sbinformation.about.com/od/hiringfiring/a/reduceturnover.htm.
Reducing Employee Turnover (2007) Missouri Small Business Development. 21 April 2007 Online available at http://www.missouribusiness.net/cq/2002/reducing_employee_turnover.asp.
Johns, R. (2006) Determinants of Organizational Commitment Among U.S. Workers. McAnulty College and Graduate School of Arts. Online available at http://etd1.library.duq.edu/theses/available/etd-06/unrestricted/Thesis.pdf..
Effects of Employee Turnover
