Many companies are finding it increasingly difficult to retain employees. Turnover is becoming a serious problem in today's corporate environment. It is now relatively common to change jobs every few years, rather than grow with one company throughout the employment life as was once commonplace. It is defined as “the ratio of the number of workers that had to be replaced in a given time period to the average number of workers. Most of organizations want to reduce this problem because sometimes it cost more then to retain an employee within the organization. It is important for companies to have an understanding of their rates of employee’s turnover and how they affect the organization’s effectiveness Most organizations want to blame turnover on wages and benefits, they actually do not play a big role in why people leave their jobs. The overwhelming majority of people who leave any company are because of the way they are treated every day. The cost of hiring new employees is six times greater than retaining the old employees. These costs not only include monetary cost but time and resources are wasted as well. The factors which includes in these are as follows: •
Time for interviewing
Moreover, the costs involved in training of new employees, who replace the ones who leave include: •
Employee benefit set up
Time for trainers
For this research paper we have chosen the service sectors to clearly understand the factors behind the employee’s turnover. In service sectors we have targeted the telecom sector. For better comparative study we have point it out one private and one public telecom sectors. The two companies are Mobilink and Ufone. Mobilink is a subsidiary of Orascom telecom. Mobilink first launched its services in Lahore in August of 1994. Since then the network has grown. On the other hand Ufone is 100% owned subsidiary of PTCL was established to operate...
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