Staff Turnover
EXECUTIVE SUMMARY
This topic was selected in view of the impact to the organization with regards to the challenges in managing the “balancing act” between recruiting and retaining the employees, which appears to be critical for Resorts World Berhad RWB (thereafter referred to as RWB).
Whilst recruitment is a major task, retaining, plus people development through training and retraining are challenges that need be managed in view of the high staff turnover within RWB. Being one of the biggest Genting’s subsidiary and entertainment and leisure arms for the group, it is prolific to analyse and discuss major area(s) that is geared to possible suggestions and rationale recommendations.
The statistics for the period from 2003 to 2005 revealed that at RWB, overall staff turnover for non-executives appears to be consistently on the high trend. The staff turnover for these period rose from 22% to 28% respectively. It is apparent that throughout these period, the turnover rate across the organizations are as follows:
? 22.5 percent (2003);
? 28 percent (2004) and
? 28.3 percent (2005).
On average 173 employees left in 2003, while in 2004 and 2005 the average numbers were at 227 and 241 monthly, respectively. This scenario thus indicates that it is an issue with regards to the total manpower planning for the entire RWB. This is so because manpower planning also affects other equally crucial areas namely: -
? Recruitment strategy & costs
? Manpower planning & budgeting
? Succession planning & talent management
? Loss of technical skills & training hours
? Service quality & service delivery standards
Indeed, it is a cause for concern considering the fact that RWB is primarily involved in a variety of entertainment related core activities, with human capital being the back bone - to support and bolster the smooth running of the day to-day operations. In addition to that, RWB the Leisure, Hospitality, Gaming and Entertainment arm of Genting Group
This topic was selected in view of the impact to the organization with regards to the challenges in managing the “balancing act” between recruiting and retaining the employees, which appears to be critical for Resorts World Berhad RWB (thereafter referred to as RWB).
Whilst recruitment is a major task, retaining, plus people development through training and retraining are challenges that need be managed in view of the high staff turnover within RWB. Being one of the biggest Genting’s subsidiary and entertainment and leisure arms for the group, it is prolific to analyse and discuss major area(s) that is geared to possible suggestions and rationale recommendations.
The statistics for the period from 2003 to 2005 revealed that at RWB, overall staff turnover for non-executives appears to be consistently on the high trend. The staff turnover for these period rose from 22% to 28% respectively. It is apparent that throughout these period, the turnover rate across the organizations are as follows:
? 22.5 percent (2003);
? 28 percent (2004) and
? 28.3 percent (2005).
On average 173 employees left in 2003, while in 2004 and 2005 the average numbers were at 227 and 241 monthly, respectively. This scenario thus indicates that it is an issue with regards to the total manpower planning for the entire RWB. This is so because manpower planning also affects other equally crucial areas namely: -
? Recruitment strategy & costs
? Manpower planning & budgeting
? Succession planning & talent management
? Loss of technical skills & training hours
? Service quality & service delivery standards
Indeed, it is a cause for concern considering the fact that RWB is primarily involved in a variety of entertainment related core activities, with human capital being the back bone - to support and bolster the smooth running of the day to-day operations. In addition to that, RWB the Leisure, Hospitality, Gaming and Entertainment arm of Genting Group
References: 1. Jac Fitz-enz & Barbara Davison, How To Measure HRM, 3rd Edition, McGraw Hll, 2002 2. John Stredwick & Steve Ellis, Flexible Working Practices, Techniques & Innovation, Cromwell, 1998 3. Paul Falcone, The Hiring & Firing Q & A Book, American Management Association, 2002 4. John Bramham, Practical Manpower Planning 4th Edition, Institute of Personnel Management, 1975 5. Eileen Shapiro, The Seven Deadly Sins of Business, Capstone Publishing, 1998 6. Alan G Robinson & Sam Stern, Corporate Creativity, Berret-Koehler Publishing Inc, 1997 7. Leigh Brahman, Keeping The people Who Keep You In Business, American Management Association, 2001