Irontown Employee Turnover

Introduction Employee turnover is a ratio comparison of the number of workers a company must replace in a given time period to the average number of all employees. A big concern to Irontown, employee turnover is expensive, especially in lower paying job roles, for which the employee turnover rate is highest. Many factors play a significant role in the employee turnover rate of any organization, and these can stem from both the employer and the employees. Wages, employee attendance, stress of the job, company benefits, expectations of the job and job performance are all factors that play an important role in employee turnover at Irontown. Companies should take a deep interest in their employee turnover rate because it is a costly part
A job 's attractiveness will be influenced by many characteristics, including its repetitiveness, danger, challenge, perceived importance, and capacity to elicit a sense of accomplishment. Moreover, Unrealistic expectations are also factors for employee turnover. Another factor is the unrealistic expectations and general lack of knowledge that many job applicants has about the job at the time that they receive an offer. When these unrealistic expectations are not realized, the employee becomes disillusioned and decides to quit. (Clint Johnson, 2012). On the other hand, the organizational culture also could be contribution for the employee turnover. It is sufficient to note here that the strength of leadership, the reward system the ability of the organizations to elicit a sense of commitment on the part of workers, and its improvement of a sense of shared goals, among other factors, will effect such indices of job satisfaction as turnover intentions and turnover
(2010) suggested “hiring the right people and keeping developing their careers. An investment in upgrading the workforce is one of the best investments a company can make when looking at long-term growth. Hiring the people that are a good "fit" with the culture of the company meaning that their principles, values and goals clearly match those of the company and then training as necessary will go a long way toward ensuring employee loyalty and retention”. Secondly, K.W., & Buono, A.F. (2012) informed “most companies which have low turnover rates are very employee oriented. They solicit input and involvement from all employees and maintain a true "open-door" policy that avoids closed-door meetings. Employees are given an opportunity for advancement and are not micro-managed.?” Thirdly, it is recommended to improve an overall strategic compensation package that has not only base and variable pay scales, but long-term incentive compensation, bonus and gain-sharing plans, benefit plans to address the health and welfare issues of the employees, and non-cash rewards and perks as well. Questionnaires and interviews should be used to collect data on various stressors, coping techniques and outcomes. Spread awareness and information about effective dealing with stress, both inside and outside the organization. Check with the company doctor to