The Cost of Turnover - 5420 Words

The Cost of Turnover Putting a Price on the Learning Curve by Timothy R. Hinkin and J.BruceTracey Employee turnover does more than reduce service quality and damage employee moraleÂâ€"it hits a hotelÂ’s pocketbook. E mployee turnover has long been a concern of the hospitality industry, and therefore of researchers who examine industry human-resources concerns. One stream of research that arose in the past 20 years was an effort to quantify the cost of employee turnover. Although most managers agreed that turnover was bothersome, calculating a dollar figure for employee departures would provide those Timothy R. Hinkin, Ph.D., is a professorof managementorganization, human resources, and law (MOHRL) and director for undergraduate†¦show more content†¦The lodging industry sees fierce competition, with new products and branding strategies vying for the dollars of increasingly demanding consumers. Technologically, the industry has made tremendous progress in revenue-management systems, computerized reservations, and POS systems, and we can only hazard a guess what the internet will eventually mean to the lodging industry. Virtually all jobs have been altered by technology and downsizing, and hotel employees have more to learn and do than they did two decades ago. The demographic characteristics of the workforce have changed, and in many markets most of the people considered employable are already employed. With predictions of labor shortages to come, competition for qualified employees will only increase, making employee retention an important managerial objective. A recent stream of research has empirically demonstrated a significant relationship between sound human-resources practices and financial performance.3 For example, a recent study by Delerey and Doty found that three HR practicesÂâ€" namely, results-oriented perform mance appraisals, employment security, and profit sharingÂâ€"were strongly related to return on equity and other financial measures of a firmÂ’s 3 For example, see: Jeffrey Pfeffer and John Viega, “Putting People First for Organizational Success,” Academy of Management Executive, Vol. 13, No. 2 (1999), pp. 37Ââ€"48; and James L. Heskett, Thomas O. Jones, GaryShow MoreRelatedThe Cost Of Turnover Is Significant1631 Words   |  7 PagesResearch shows the cost of turnover is substantial and varies from region to region. The measurement of what costs are included are just as diverse, but according to Jones and Gates (2007), the cost of turnover can be 1.3 times a departing nurse’s salary. With this in mind, the costs of recruitment and retention cannot be underestimated nor seen as an expense, rather a return on investment. Thankfully, the costs for some of the proposed administrative solutions are minimal or cost nothing more toRead MoreNursing Turnover Costs And Its Prevention1530 Words   |  7 Pages Nursing turnover costs and its prevention Ryan Figley University of Central Missouri Nursing turnover has been a well-documented issue with regards to retention of competent staff in health care facilities throughout the country (Cartledge, 2001). Turnover is simply defined by Sullivan as the vacating of positions by staff; however, nursing turnover is a phenomenon that must be understood and guarded against (Sullivan, 2013). The effects of turnover can be seen in many aspects ofRead MoreBenefits Of Employee Turnover Cost Essay8929 Words   |  36 PagesEmployee turnover cost is usually defined as the cost to hire a replacement associate and train this new employee for the new role. Most of the time the cost for training is considering the list of activities and/or courses that a new associate should undertake in order to become productive. Figure 5 is showing the cost and Return Of Investment process during the employee`s work time. The ROI or potential revenue (in the specific case we will consider Productivity and Quality since it is an RD labRead MoreWhat Is the Real Cost of Employee Turnover967 Words   |  4 PagesWhat Is the Real Cost Of Employee Turnover The employee turnover rate and the retention of skilled employees is a major problem businesses face. Conservative estimates put the cost of replacing a lost employee at 25 percent of the annual compensation amount. For the typical full time employee who earns $38,481 and receives $50,025 in total compensation, the total cost of turnover would amount to $12,506 per employee. This being the case employee turnover is a major cost and can significantlyRead MoreThe High Cost of Employee Turnover in Business660 Words   |  3 Pagesthe costs (both real costs, such as time taken to select and recruit a replacement, and also opportunity costs, such as lost productivity), the cost of employee turnover to for-profit organizations has been estimated to be between 30% (the figure used by the American Management Association) to upwards of 150% of the employees remuneration package.[4] There are both direct and indirect costs. Direct costs relate to the leaving costs, replacement costs and transitions costs, and indirect costs relateRead MoreInventory Turnover : Cost Of Goods Sold950 Words   |  4 PagesInventory Turnover = Cost of Goods Sold / Avg. Inventory Measure of Efficiency of inventory management 2015 2014 Inventory Turnover = 387,000 / 110,000 = 3.518 times Inventory Turnover = 275,000 / 80,000 = 3.4735 times The result of inventory turnover for Smith Enterprises being so small tends to be restricted sales volume. With this, the company requires a larger investment in inventory. Days Sales in Inventory = Ending Inventory / Cost of Goods Sold x 365 Measure of Liquidity in inventory 2015Read More What Is the Real Cost Of Employee Turnover Essay947 Words   |  4 Pages What Is the Real Cost Of Employee Turnover The employee turnover rate and the retention of skilled employees is a major problem businesses face. â€Å"Conservative estimates put the cost of replacing a lost employee at 25 percent of the annual compensation amount. For the typical full time employee who earns $38,481 and receives $50,025 in total compensation, the total cost of turnover would amount to $12,506 per employee.† This being the case employee turnover is a major cost and can significantlyRead More Reducing the Cost of Employee Turnover by Managing for Retention2471 Words   |  10 PagesReducing the Cost of Employee Turnover by Managing for Retention Employee turnover and the retention of valued employees are major problems facing business in the U.S. The average turnover rate is hovering at 15%. The costs associated with that turnover can be high - generally 25 percent of the individuals annual salary. Unemployment in the United States is at a 24-year low. Employee loyalty is down. Never before has it been so critical to focus on strategies for keeping good employees. HoweverRead MoreEssay on Nursing Turnover: Costs, Causes, Solutions2923 Words   |  12 PagesIntroduction: Nurse turnover is defined as â€Å"the number of nurses changing jobs within an organization or leaving an organization within a given year† (Baumann 2010). Retaining nurses is one of the most important issues in health care as its effects range from challenges in human resource planning, to high costs in financial and organizational productivity (Beecroft et al, 2008), to workgroup processes and morale, to patient safety and quality of care (i.e. patient satisfaction, length of patientRead MoreActual Cost of Employee Turnover Ways to Improve Retention2772 Words   |  12 PagesActual Cost of Employee Turnover Ways to Improve Retention Steve Burton Morrison University ACTUAL COST OF EMPLOYEE TURNOVER WAYS TO IMPROVE RETENTION Employee turnover is one of the largest problems for many organizations, yet it is one of the most unknown cost. Although employee turnover may not seem like a big deal, it is very expensive part of the business. A study done several years back showed that less than 50% of businesses had a plan to determine what turnover

The First Wave Of The Civil Rights Movement - 2502 Words

Second wave -feminism began in the 1960s and lasted throughout the 1990s. Second wave feminism was not a monolithic movement, there were many groups formed this movement that dealt with different issues that affected women. Among the groups in second wave feminist movement were liberal feminists, radical feminist that included women of color and socialist feminists and anti -feminists. Abortion was an issue that did not unified feminist but rape and domestic violence were issues that affect all women. Liberal feminist are women that work through the system for changes in law and public policy and who believed that substantive reform such as publicly supported quality child care was vital. Most liberal feminist were mothers, so they understood the limits of gender bind formal equality. If people just said that discrimination should end, it not help the women who were struggling to combine paid employment, child raising and housework. An organization that was created by liberal femini sts was the National Organization for women (NOW). This â€Å"civil rights organization† was created in 1966 by Betty Friedan and others. One of its first focuses was on employment equality but it also focused on maternity leave and child care: equal education; a woman’s right to control her own fertility and passage of the Equal rights Amendment to signify public recognition that women were entitled to full citizenship. All these demands promised to level the playing field between the sexes.Show MoreRelatedThe Feminist Movement1137 Words   |  5 Pagesmade the first woman Eve from the rib of Adam and God â€Å"[does] not permit a woman to teach or to exercise authority over a man; rather, she is to remain quiet† (1 Timothy 2:11-15). However, understanding their important role in the family and society and feeling tired of being undertreated by men, women finally stood up for themselves. In the 19th century, the Feminist Movement emerged and completely change d the lives of millions of women in the United States until this day. The Movement providesRead MoreFeminism : Women s Role1541 Words   |  7 PagesFeminism is the advocacy of women s rights which finally kicked off during the First Women’s Conference which was held in Senca Falls in 1848. The term Feminism can be used to describe the beliefs of political, cultural, social or economic equality of men and women. Feminism incorporates political and sociological theories and philosophies concerned with issues of gender variation and it is the feminist movement that has been trying to give women these rights who have been deprived of their equalityRead MoreThe And Construction Of The United States Of America1174 Words   |  5 Pagesdiscrimination acts. Sexism, a discrimination against gender, being one main subject that is still being fought today in several countries all over and across the world. Sexism emerged mostly in second wave of feminism in the 1960s throughout the 80s and developed possibly because of racism and Civil Rights Movement. The act of sexism inflicts on the standards of what men can do and what women can do. Even though women tend to be more emotional than men, many studies have shown that women are intellectuallyRead MorePolitical Influence Of The Tea Party Movement1176 Words   |  5 Pagesâ€Å"political actors†, â€Å"Political Party,† â€Å"Social Movement,† â€Å"Interest Group,† and â€Å"Group Organization,† which citizens in the United States can join and support in order to influence politics and government. These four important â€Å"political actors† have a long history and their ability to influence the politics and government can not be underestimated. Moreover, The Tea Party Movement is a political movement that began follow by the Barak Obama’s first presidential inauguration when his administrationRead MoreThe First Wave Of Women s Suffrage Movement1653 Words   |  7 Pagestime, most women in the United States did not have many economic and political rights. Back then priorities of women were to take care of their homes, families, and husbands. These earlier feminists, also known as the first wave feminists, simply wanted a voice and this led to the women’s suffrage movement. By 1920, the Nineteenth Amendment finally passed and gave women the right to vote (Kotef). This successful movement influenced women everywhere in the world and continued to powerfully inspire womenRead MoreThe Second Wave Of Feminism1594 Words   |  7 Pagesof the very first advocacies for women’s rights, the Second-wave feminism in the 1960s saw itself as a movement that achieved great success in terms of women’s social, ec onomic, and political rights. The Women’s Rights Movement that began in the sixties, in comparison to the first-wave feminism in the 19th century—whereas many activists focused on only women’s suffrage—the second-wave feminism dealt with a broader range of issues. From education, the patriarchal system, sexual rights, and the workforceRead MoreThe History of Feminism Essay750 Words   |  3 Pageswill live up to the movement’s variety of adherents and ideas. In the book â€Å"No Turning Back,† author Estelle Freedman gives an accurate four-part definition of the very active movement: â€Å"Feminism is a belief that women and men are inherently part of equal worth. Because most societies privilege men as a group, social movements are necessary to achieve equality between women and men, with the understanding that gender always intersects with other social hierarchies† (Freedman 7). Many historians believeRead MoreFeminism : A Viable Social Scientific Approach933 Words   |  4 Pagesapproach has witnessed several transformations, referred to as waves, with each representing a different set of actors, claims and organization. Throughout the history of the United States, and broadly western societies, feminist waves altered political, social and cultural orders changing them to the overall benefit of women (Maclaran, 2015). Despite their variations, feminist waves aspire to make the world more egalitarian giving women more rights, empowerment and choice. An interesting concept describingRead MoreWomens Liberation Movement Essay1219 Words   |  5 PagesWomens Liberation Movement Betty Friedan wrote that the only way for a woman, as for a man, to find herself, to know herself as a person, is by creative work of her own. The message here is that women need more than just a husband, children, and a home to feel fulfilled; women need independence and creative outlets, unrestrained by the pressures of society. Throughout much of history, women have struggled with the limited roles society imposed on them. The belief that women were intellectuallyRead MoreFeminist Medi The Second Woman s Perseverance Essay1203 Words   |  5 Pagesusually fall into one of two archetypes the first is a serene, nurturing, ‘perfect’, submissive girl, the second is a bitter, conniving, career/power motivated woman. Each archetype shown with flaws that are not necessarily flaws; their standardized personalities being portrayed as faults the second woman’s perseverance is shown as a childlike petulence instead of the tenacity of a male character in the same sit uation if a male character was to act like the first type would be seen as weak, spineless,

Essay about Online Dating Analysis Essay Example For Students

Essay about Online Dating Analysis Essay .1. Why do some people advertise themselves for a date in a newspaper or online?There are an endless number of reasons why people put ads out for dating, which are anywhere from convenience, to time since most of us have very busy schedules. It also allows people to get themselves out to a specific group that may or may not have been able to reach without this source. Many people don’t like the bar scene and feel it to be a somewhat more secure way of getting out there to perhaps meet new people with the possibility of meeting â€Å"the one†. For myself personally I am on a few dating sites for basically all the reasons which I have listed above. Generally the schedule I keep does not permit ample time to get out of my circle to meet new people that I may possibly care to date. In some situations it might be, a good way for more shy people to get into circulation in the dating world because it gives them a port of entry that is non- threatening nor is it as intrusive. Nonetheless this still poses many dilemmas and challenges to most that are engaging in the online dating lifestyles.2. What could be an advantage and a disadvantage to this dating strategy?There are some really favorable reasons for this strategy as well as some which are not so favorable. On the plus side, it is a fantastic way of screening a person want or does not want to correspond and possibly meet up with. You get a chance to talk with someone before actually doing a face to face meeting which is great so there are less feelings of rejection. You get to usually see pictures of the person you are corresponding with to see if a possible spark ignites between the two. Many individuals also do video chats to make certain that the person they are chatting with i. .ally stable woman with a fulltime job, own my own painting business and have my own home, truck and motorcycle. I am also a fulltime student at A.S.U. majoring in Communication and will have by B.A. by next December. I have knowledge of many things through life’s experiences as well. These are my bargaining chips that I offer up in a possible dating or relationship scenario. (2012).When looking for a partner in a relationship I look for what they have to offer in exchange for what I have to offer which helps greatly in the online dating field, it’s a form of a bartering tool I guess when seeking a partner. I might like someone yet they have no job, no home and no drive to be better and in reality would not be someone I would pursue or allow to pursue me.Works Cited Lamanna, M. A., Riedmann, A. (2012). Marriages, Families, and Relationships. (11 ed., p. 36).

The Main problems of Handling Sexual Harassment Cases

Introduction Sexual harassment cases in the workplace are encountered across the world. Sexual harassment reduces quality of work, morale and performance of the workers. Many organizations have enacted workplace policies in order to combat the issue (McCann, 2005).Advertising We will write a custom essay sample on The Main problems of Handling Sexual Harassment Cases specifically for you for only $16.05 $11/page Learn More However, the sexual harassment continues to be a major issue in workplaces. The main problem that the following paper addresses is the complexity faced by organizations when handling sexual harassment cases. President of Caritas Christi Health Care The president of Caritas should be fired. This is because there have been at least ten women who have alleged having been sexually harassed by the president. In the organization, there are laws against sexual harassment that the president violated. Sexual harassment in Caritas Christi involv es â€Å"sexually charged looks and gesture and unnecessary touching of an individual† (Ivancevich, 2013, p. 90). The unnecessary touch includes hugging. According to Ivancevich (2013), the cases against the president are straightforward. Complaints have been made in relation to the two issues that constitute sexual harassment in the organization. In addition, sexual harassment policy for Caritas Christ Health Care stipulates that violations should lead to a written warning, suspension, and termination. Handling of Sexual Harassment Cases The handling of sexual harassment cases is normally considered complicated due to the nature of issues that are concerned. For example, the cases should be evaluated on a case by case basis. This is because the cases are fact specific and sometimes subjective. Sexual harassment cases turn directly on the credibility of the people involved; therefore, there is the need for witnesses in order to execute the issues. However, in many cases there are no people to witness. The other complication relates to the internal culture companies.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to Ivancevich (2013), what is deemed variable varies by company; for instance, the president of Caritas Christ Health Care disputed the sexual harassment behavior as innocent reflections that are in line with the culture he was raised. Consistency in Handling Sexual Harassment Claims Sexual harassment cases have a damaging impact on the employees. If the cases are not addressed amicably, they have a direct impact on the profitability of the organization as the affected employees may decide to resign, or the rate of absenteeism may increase. Mallow (2013) stated that there should be a clear policy to provide guidelines on how to deal with sexual harassment cases. Consistency upholds confidence in the organization. In addition, consistency ensu res disciplinary measures correspond to the severity of the case. Furthermore, it fosters an organizational culture and guarantees that the organization’s values are strictly adhered to by all employees. This helps in avoiding the consequences that arise when some employees such as the top salespeople are favored. Application of Case Study in Foster Care Children admitted in foster care may have been sexually abused. Most of the children do not understand that what they went through was wrong. Therefore, in my current position as a foster care caseworker, I could apply the case study to develop a policy framework to deal with people who may have sexually harassed the children. The policy will have a clear definition of sexual harassment and outline the measures that should be applied to ascertain that a child was sexually harassed. This will help in addressing the gray areas that make it complicated to identify and litigate sexual harassment cases. References Ivancevich, J. ( 2013). Human resource management: Sexual harassment cases are becoming more complex. Boston: McGraw-Hill.Advertising We will write a custom essay sample on The Main problems of Handling Sexual Harassment Cases specifically for you for only $16.05 $11/page Learn More Mallow, M. (2013).Sexual Harassment in the Workplace: An Overview over the International Law and Current Law and Practice in Malaysia. International Journal of Humanities and Social Science, 3 (13), 2-7. McCann, D. (2005). Sexual harassment at work: National and international responses. Geneva, Switzerland: International Labor Office. This essay on The Main problems of Handling Sexual Harassment Cases was written and submitted by user Athena Barber to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.