MGT 303 Final - MGT303Final 18:01...

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MGT 303 Final 18:01 RETENTION AND TERMINATION (10) Voluntary Turnover Initiated by the employee Often individuals the organization would prefer to retain Involuntary Turnover Initiated by the organization, often because of poor job performance or organizational  restructuring Causes of Turnover Within the job: Compensation Supervision Nature of work Co-workers Results in attitudes of job satisfaction, and fairness Within the organization: Job security Training Benefits (pension) Fair treatment Promote from within
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Use of seniority Growth/decline Change/uncertainty Results: fairness, organizational commitment Within the person: Age Health status KSAO’s in demand Work-life conflicts Family responsibilities Commuting time Personality Job performance Results: intention to quit, ease of leaving Within the environment: Labor market Industry Occupation Results: ease of leaving, intention to quit Costs of Excessive Turnover Separation Costs
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HR staff time (salary, benefits, exit interview) Manager’s time Accrued paid time off Temporary coverage (temp employee, overtime for current employees) Intangible Loss of workforce diversity Diminished quality while job is unfilled Loss of organizational memory Loss of clients Competition from quitter if they open a new venture Contagion—other employees decide to leave Teamwork disruptions Loss of seasoned mentors Replacement Costs Recruitment Advertising Employment agency fees Hiring inducements (bonus, relocation, perks) Referral bonuses Selection Selection measure expenses (work samples, selection tests)
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Application expenses Orientation and Training Orientation program time and resources Forman and informal training (time, materials, equipment, monitoring) Socialization Productivity loss (loss of production until replacement is fully proficient) Reducing Unwanted Turnover Recruitment Provide a realistic job preview Hire employees through employee referrals Selection Biodata and weighted application blanks can be used to predict who is most likely to quit Assessing fit with the organization and job Socialization Involve experienced organization insiders as role models, mentors, and trainers Provide new hires with positive feedback Structure orientation activities so groups of new hires experience them together Provide clear information about stages of socialization process Training and Development Job specific training and linking development opportunities to tenure Compensation and Rewards
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Lead the market for types of rewards in ways that fit with business and HR strategy Tailor rewards to individual needs and preferences Promote justice and fairness pay and reward decisions Explicitly link rewards to retention Supervision Train supervisors and managers how to lead, how to develop effective relationships with 
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MGT 303 Final - MGT303Final 18:01...

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