Managing and leading People

Research Paper (undergraduate) from the year 2011 in the subject Leadership and Human Resources - Miscellaneous grade: 80% University of Sunderland language: English abstract: Many organizations agree that employee turnover is a costly problem. Therefore managers try to find ways in order to retain their employees within the organization. However mangers have to ask themselves if all turnovers are avoidable or if there are circumstances where it is unavoidable to retain employees. It would not make sense to invest money in retention if the chances to retain employees are rather small. In addition it might be favourable for an organization if a low performer leaves the organization. Therefore managers have to make distinction between functional and dysfunctional as well as unavoidable and avoidable turnovers in order to create strategies to retain people. Furthermore they should contrast turnover cost and replacement cost and should find out which investment will give more value to the organization in the long-term. Nevertheless there are organizations where a high turnover rate is not unusual. Furthermorethere are many business sectors where the labour market is limited and organizations must find new strategies to retain as well as recruit talented employees. Obviously organizations differ from each other and have different resources to retain and recruit employees. Due to this the best practise approach might not lead for all organizations to an positive outcome. Therefore organisations must find out which approach fits best to their culture business etc. Furthermore considering retaining managers must ask themself in what stage starts retaining. Does retention start at that time the employee starts his work or does retention start even earlier? Moreover as organizations operate in fast changing environments they also have to consider that the people who live within these environments are also changing their needs and attitudes. Demographic facto