Assignment 1 HR Staffing RETANTION ISSUE IN MALAYSIA
MINDEF EDUCATION CENTER
SEMESTER SEP 2014 /PART II HUMAN RESOURCES STAFFING
(BAGB4073)
INDIVIDUAL ASSIGNMENT:
RETENTION ISSUE IN MALAYSIA
PREPARED BY:
NORMAYUDI BIN ABU BAKAR (MD1309BD0404)
LECTURER:
FATIMAH PA’WAN
DATE OF SUBMISSION:
20 DECEMBER 2014
RETENTION ISSUE IN MALAYSIA
Journal
Employee Turnover And Retention In Malaysia Management Essay
Organizations worldwide in today’s industries face challenges with the globalization of the economy and the growing marketplace. Investments in technological advantages are also crucial as it is to retain the best employees in order to stay competitive in the market and create sustained competitive advantage.
High turnover rates indicate that employee retention is not an easy task. But what is the reason for employee turnover? Is it the fault of a company’s management or the attitude of the employees?
This work analyzes the current situation on employee turnover and retention in Malaysia and gives implications about the reasons for Malaysian employees to leave or have the intention to leave their organization.
Furthermore the impact and consequences for the organizations is discussed with valuable recommendations how to reduce employee turnover.
Current situation on employee turnover in Malaysia
The Malaysian labour market is characterized by continues growth. Favourable economic conditions contributed to an increase in domestic and foreign investments. In this situation the competition for hiring and retaining talented workers has increased among Malaysian industries.
In 2009 the voluntary employee turnover rate [1] in Malaysia was 10.1%, an increase to the rate of 9.3% analyzed in 2008 (Hewitt Asia Pacific 2009). The average voluntary turnover rate for the Asian-pacific countries is 10% (2009). Japan reported the lowest with 5% and India the highest with 13.8% (Hewitt Asia Pacific 2009). The costs for companies caused by employee turnover are high, considering advertising, recruitment,
SEMESTER SEP 2014 /PART II HUMAN RESOURCES STAFFING
(BAGB4073)
INDIVIDUAL ASSIGNMENT:
RETENTION ISSUE IN MALAYSIA
PREPARED BY:
NORMAYUDI BIN ABU BAKAR (MD1309BD0404)
LECTURER:
FATIMAH PA’WAN
DATE OF SUBMISSION:
20 DECEMBER 2014
RETENTION ISSUE IN MALAYSIA
Journal
Employee Turnover And Retention In Malaysia Management Essay
Organizations worldwide in today’s industries face challenges with the globalization of the economy and the growing marketplace. Investments in technological advantages are also crucial as it is to retain the best employees in order to stay competitive in the market and create sustained competitive advantage.
High turnover rates indicate that employee retention is not an easy task. But what is the reason for employee turnover? Is it the fault of a company’s management or the attitude of the employees?
This work analyzes the current situation on employee turnover and retention in Malaysia and gives implications about the reasons for Malaysian employees to leave or have the intention to leave their organization.
Furthermore the impact and consequences for the organizations is discussed with valuable recommendations how to reduce employee turnover.
Current situation on employee turnover in Malaysia
The Malaysian labour market is characterized by continues growth. Favourable economic conditions contributed to an increase in domestic and foreign investments. In this situation the competition for hiring and retaining talented workers has increased among Malaysian industries.
In 2009 the voluntary employee turnover rate [1] in Malaysia was 10.1%, an increase to the rate of 9.3% analyzed in 2008 (Hewitt Asia Pacific 2009). The average voluntary turnover rate for the Asian-pacific countries is 10% (2009). Japan reported the lowest with 5% and India the highest with 13.8% (Hewitt Asia Pacific 2009). The costs for companies caused by employee turnover are high, considering advertising, recruitment,