Staff Turnover

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  • Topic: Genting Highlands, Lim Goh Tong, Genting Group
  • Pages : 20 (5904 words )
  • Download(s) : 285
  • Published : March 18, 2011
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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 Berhad, is a company worth USD3.6B (approx RM13.7B) on the Kuala Lumpur Stock Exchange (KLSE), Malaysia. This paper aims to focus on the further understanding of high staff turnover amongst the non-executive staff at RWB, plus providing critical recommendations in addressing the issues. In addition it will also cover the potential costs and consequences of high turnover and to focus particularly on the sustainability implications, managing the staff turnover and retention strategies. Data for the staff turnover was sourced through the HR department at RWB. These figures indicate the extent and distribution of the turnover. The analysis, meanwhile, was conducted through a simple statistical method, in the Excel format. As the data were obtained through the relevant and proper channels, the margin of error is marginal, due to the turnover statistics being derived in accordance to departments throughout the organization.

SECTION 1 INTRODUCTION
1.1Company Profile
1.1.1The Genting Story
"Once the goals have been clearly defined, with the greatest amount of determination and hard work, one can conclusively realise one’s goals." Tan Sri Lim Goh Tong, Founder
As a prelude to this study, it is imperative that I begin with a brief introduction on the Genting history and its core business activities. This is to convey the enormity of the organization in this study. The Genting story is as appended below. When it comes to the Genting story, most Malaysians will recognize it as synonymous with the rise of its namesake hill resort, Genting Highlands Resort. Tan Sri Lim Goh Tong chanced upon the idea of a hill resort amidst the crisp air of Cameron Highlands in 1964. Tan Sri Lim was then working on a hydroelectric power project at the popular hill resort, patronized mostly by British colonials seeking cool refuge from the tropical heat, when he foresaw a prosperous Malaysia of the future desiring a cool mountain holiday resort within the reach of all Malaysians. A...
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