Turnover Due To Low Financial Benefits

Published Date: 02 Nov 2017

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

14

7.0

7.0

7.0

2

17

8.5

8.5

15.5

3

34

17.0

17.0

32.5

4

94

47.0

47.0

79.5

5

41

20.5

20.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.66

Standard Deviation :

1.110

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 16 % of the research participants disagree with the provided question of Most of the employee leaves organization due to low financial benefits. While 17 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 67 % of the participants were completely agreed with the statement that Most of the employee leaves organization due to low financial benefits. It is also seen the above results depict an obtained mean value of 3.66 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 1.110 depicts that there is a variance in the participant’s response.

Most of the employee leaves leave companies because of low salaries and pay or lack of financial benefits. How ever organizations can make themselves competitive in these respective areas within the budget constraints. An excellent employee retaining practice is to stay competitive in offering and paying wages.

Table 4.11

Hard nature of work

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

35

17.5

17.5

17.5

2

34

17.0

17.0

34.5

3

46

23.0

23.0

57.5

4

72

36.0

36.0

93.5

5

13

6.5

6.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

2.97

Standard Deviation :

1.223

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 35 % of the research participants disagree with the provided question of Hard nature of work is also one of the reasons that employee leave organizations. While

23 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 42 % of the participants were completely agreed with the statement that Hard nature of work is also one of the reasons that employee leave organizations. It is also seen the above results depict an obtained mean value of 2.97 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 1.223 depicts that there is a variance in the participant’s response.

Hard nature of work is also one of the reasons that employee leave organizations. When the employee has to input more efforts in order to achieve his or her given goals and objectives as compare to the financial benefits which are being provided in return, this leads to dissatisfaction and the employee will leave the organization.

Table 4.12

Low job satisfaction

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

63

31.5

31.5

31.5

2

91

45.5

45.5

77.0

3

28

14.0

14.0

91.0

4

6

3.0

3.0

94.0

5

11

5.5

5.5

99.5

54

1

.5

.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

2.31

Standard Deviation :

3.817

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 77 % of the research participants disagree with the provided question of Low job satisfaction results in employee turnover. While 14% of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 9% of the participants were completely agreed with the statement that Low job satisfaction results in employee turnover. It is also seen the above results depict an obtained mean value of 2.31 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 3.817 depicts that there is a variance in the participant’s response.

Satisfaction is the more common factor which directly impacts the performance of worker and productivity as well as over all performance of the organization. Dissatisfaction might be caused due to low wages, environmental issues, rash behaviour of the seniors, and conflict with the management or any other. Low job satisfaction results in employee turnover.

Table 4.13

Lack of work appreciation

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

59

29.5

29.6

29.6

2

42

21.0

21.1

50.8

3

38

19.0

19.1

69.8

4

48

24.0

24.1

94.0

5

12

6.0

6.0

100.0

Total

199

99.5

100.0

Missing

System

1

.5

Total

200

100.0

Arithmetic Mean :

2.56

Standard Deviation :

1.301

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 51 % of the research participants disagree with the provided question of Lack of appreciation in work forces employee to leave the organization. While 19 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 30 % of the participants were completely agreed with the statement that Lack of appreciation in work forces employee to leave the organization. It is also seen the above results depict an obtained mean value of 2.56 which shows the most of the responding participants were in favour of the agreement side of the given statement and a S.D of 1.301 depicts that there is a variance in the participant’s response.

When a worker performs a task and achieves an objective on time, he or she needs appreciation of work. This appreciation may be in form of verbal or financial benefit. Lack of appreciation in work forces employee to leave the organization

Table 4.14

Productivity loss due to turnover

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

3

1.5

1.5

1.5

2

14

7.0

7.0

8.5

3

14

7.0

7.0

15.5

4

104

52.0

52.0

67.5

5

65

32.5

32.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

4.07

Standard Deviation :

.900

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 9 % of the research participants disagree with the provided question of Organizations suffer productivity loss due to high employee turnover rate. while 7 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 84 % of the participants were completely agreed with the statement that Organizations suffer productivity loss due to high employee turnover rate. It is also seen the above results depict an obtained mean value of 4.07 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .900 depicts that there is a variance in the participant’s response.

Over all productivity of the organization is directly dependent on the employee performance as employee work is directly related to the mission and vision of the organization. Organizations suffer productivity loss due to high employee turnover rate.

Productivity loss due to turnover

Table 4.15

Turnover impacts performance

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

2

1.0

1.0

1.0

2

39

19.5

19.5

20.5

3

18

9.0

9.0

29.5

4

116

58.0

58.0

87.5

5

25

12.5

12.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.62

Standard Deviation :

.970

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 20 % of the research participants disagree with the provided question of Turnover rate also impacts the performance of organization over all . while 9 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 71% of the participants were completely agreed with the statement that Turnover rate also impacts the performance of organization over all. It is also seen the above results depict an obtained mean value of 3.62 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .970 depicts that there is a variance in the participant’s. Indeed turnover is negatively correlated with the performance of the organization. Turnover rate also impacts the performance of organization over all. Production of a labour firm is severely impacted due to the high turnover rate. Even small percentage of turn over can cause a large amount of production loss to the company.

Table 4.16

Technical loss

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

2

20

10.0

10.0

10.0

3

39

19.5

19.5

29.5

4

97

48.5

48.5

78.0

5

44

22.0

22.0

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.83

Standard Deviation :

.888

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 10 % of the research participants disagree with the provided question of Organization suffers technical loss due to the sudden turnover increase. while 20 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 70 % of the participants were completely agreed with the statement that Organization suffers technical loss due to the sudden turnover increase. It is also seen the above results depict an obtained mean value of 3.83 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .888 depicts that there is a variance in the participant’s response.

If the workers who are going to leave the organization are technical or directly linked to production , it will directly impact the yield and organization productivity. Organization suffers technical loss due to the sudden turnover increase

Table 4.17

New hiring - an additional expense

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

7

3.5

3.5

3.5

2

12

6.0

6.0

9.5

3

36

18.0

18.0

27.5

4

84

42.0

42.0

69.5

5

61

30.5

30.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.90

Standard Deviation :

1.017

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 10 % of the research participants disagree with the provided question of New hiring may result in additional expenses and cost which ultimately impact the performance of the organization. while 18 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 72 % of the participants were completely agreed with the statement that New hiring may result in additional expenses and cost which ultimately impact the performance of the organization. It is also seen the above results depict an obtained mean value of 3.90 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 1.017 depicts that there is a variance in the participant’s response.

Human resource managers and organizations always try to retain old employee due to the reason that new hiring may result in additional expenses and cost which ultimately impact the performance of the organization. Further old employee have not only a good experience of the working environment but also don’t need additional trainings time waste.

Table 4.18

Lost productivity

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

11

5.5

5.5

5.5

2

14

7.0

7.0

12.5

3

33

16.5

16.5

29.0

4

78

39.0

39.0

68.0

5

64

32.0

32.0

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.85

Standard Deviation :

1.115

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 12 % of the research participants disagree with the provided question of Lost productivity associated with the time that co-workers must spend away from their work to help a new worker. while 17 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 71 % of the participants were completely agreed with the statement that Lost productivity associated with the time that co-workers must spend away from their work to help a new worker. It is also seen the above results depict an obtained mean value of 3.85 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 1.115 depicts that there is a variance in the participant’s response.

Another major disadvantage of the turn over and new hiring is lost productivity associated with the time that co-workers must spend away from their work to help a new worker. Most of the precious time is wasted in orientation and training the new slots which results in low productivity.

Table 4.19

Cost of training

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

4

2.0

2.0

2.0

2

4

2.0

2.0

4.0

3

50

25.0

25.0

29.0

4

66

33.0

33.0

62.0

5

76

38.0

38.0

100.0

Total

200

100.0

100.0

Arithmetic Mean :

4.03

Standard Deviation :

.945

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 4 % of the research participants disagree with the provided question of Costs of training, including supervisory and co-worker time spent in formal training, as well as the time that the worker in training must spend off the job while 25 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 71% of the participants were completely agreed with the statement that Costs of training, including supervisory and co-worker time spent in formal training, as well as the time that the worker in training must spend off the job It is also seen the above results depict an obtained mean value of 4.03 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .945 depicts that there is a variance in the participant’s response.

Costs of training, including supervisory and co-worker time spent in formal training, as well as the time that the worker in training must spend off the job. Due to this increase in the cost of training and development on new workers organization suffers productivity loss.

Table 4.20

Causes and co-relation of employee

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

3

1.5

1.5

1.5

2

3

1.5

1.5

3.0

3

9

4.5

4.5

7.5

4

87

43.5

43.5

51.0

5

98

49.0

49.0

100.0

Total

200

100.0

100.0

Arithmetic Mean :

4.37

Standard Deviation :

.772

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 3 % of the research participants disagree with the provided question of It is recommended that in order to avoid employee turnover or reduce its impact on the organizational growth, you have to be considered all the causes and co-relations of employee turnover .while 4 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 93 % of the participants were completely agreed with the statement that It is recommended that in order to avoid employee turnover or reduce its impact on the organizational growth, you have to be considered all the causes and co-relations of employee turnover. It is also seen the above results depict an obtained mean value of 4.37 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .772 depicts that there is a variance in the participant’s response.

It is recommended that in order to avoid employee turnover or reduce its impact on the organizational growth, you have to be considered all the causes and co-relations of employee turnover.

Table 4.21

Dissatisfaction of pay

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

7

3.5

3.5

3.5

2

19

9.5

9.5

13.0

3

9

4.5

4.5

17.5

4

98

49.0

49.0

66.5

5

67

33.5

33.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

4.00

Standard Deviation :

1.039

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 13 % of the research participants disagree with the provided question of Dissatisfaction about pay is one of the main reasons for the employees to quit. While

5 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 82 % of the participants were completely agreed with the statement that Dissatisfaction about pay is one of the main reasons for the employees to quit. It is also seen the above results depict an obtained mean value of 4.00 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 1.039 depicts that there is a variance in the participant’s response.

Dissatisfaction about pay is one of the main reasons for the employees to quit.

Table 4.22

Good compensation

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

3

1.5

1.5

1.5

2

14

7.0

7.0

8.5

3

48

24.0

24.0

32.5

4

78

39.0

39.0

71.5

5

57

28.5

28.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.86

Standard Deviation :

.962

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 8 % of the research participants disagree with the provided question of Good compensation of employee can result in low rate of employee turnover. while 24 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 68 % of the participants were completely agreed with the statement that Good compensation of employee can result in low rate of employee turnover. It is also seen the above results depict an obtained mean value of 3.86 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .962 depicts that there is a variance in the participant’s response. Good compensation of employee can result in low rate of employee turnover.

Table 4.23

Experience loss

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

10

5.0

5.0

5.0

2

44

22.0

22.0

27.0

3

85

42.5

42.5

69.5

4

49

24.5

24.5

94.0

5

12

6.0

6.0

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.05

Standard Deviation :

.953

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 27 % of the research participants disagree with the provided question of Organization suffers experience loss with the loss of an old employee. while 42 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 31 % of the participants were completely agreed with the statement that Organization suffers experience loss with the loss of an old employee. It is also seen the above results depict an obtained mean value of 3.05 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .953 depicts that there is a variance in the participant’s response.

Organization suffers experience loss with the loss of an old employee. Costs associated with employee turnover include covering the vacancy, advertising the position and training new hires. The loss of experienced employees can also lead to a "brain drain," which can make your company less competitive. In addition to these obvious costs, there are hidden costs of employee turnover. These include stress on existing staff who have to cover the position, lower productivity and reduced customer service.

Table 4.24

Development of routine matters

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

7

3.5

3.5

3.5

2

44

22.0

22.0

25.5

3

76

38.0

38.0

63.5

4

58

29.0

29.0

92.5

5

15

7.5

7.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.15

Standard Deviation :

.965

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 26 % of the research participants disagree with the provided question of Employee satisfaction is believed to influence the development of routine patterns of interaction within organizations. while 38 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 36% of the participants were completely agreed with the statement that Employee satisfaction is believed to influence the development of routine patterns of interaction within organizations. It is also seen the above results depict an obtained mean value of 3.15 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .965 depicts that there is a variance in the participant’s response.

Employee satisfaction is believed to influence the development of routine patterns of interaction within organizations. If the employee will be satisfied it will enhance employee retention, Increase productivity, Increase customer satisfaction, Reduce turnover, recruiting, and training costs, Enhance customer satisfaction and loyalty, More energetic employees, Improve teamwork, Higher quality products and/or services due to more competent, energized employees.

Table 4.25

Turn over rate negatively impacts

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

3

1.5

1.5

1.5

2

9

4.5

4.5

6.0

3

35

17.5

17.5

23.5

4

94

47.0

47.0

70.5

5

59

29.5

29.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

3.99

Standard Deviation :

.888

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 6 % of the research participants disagree with the provided question of Employee turnover rate negatively impacts the remaining co-workers and their performance in their work which results in efficiency of organization. while 17 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 77 % of the participants were completely agreed with the statement that Employee turnover rate negatively impacts the remaining co-workers and their performance in their work which results in efficiency of organization. It is also seen the above results depict an obtained mean value of 3.99 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of .888 depicts that there is a variance in the participant’s response.

Employee turnover rate negatively impacts the remaining co-workers and their performance in their work which results in efficiency of organization.

Table 4.26

Turn over has considerable impact

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

52

26.0

26.0

26.0

2

61

30.5

30.5

56.5

3

42

21.0

21.0

77.5

4

39

19.5

19.5

97.0

5

6

3.0

3.0

100.0

Total

200

100.0

100.0

Arithmetic Mean :

2.43

Standard Deviation :

1.158

The results obtained from the above data table have been based upon Likert scale which represents an agreement and a disagreement intention of respondents which depicts that 56 % of the research participants disagree with the provided question of Turnover has considerable impact on an organization performance as it should be properly addressed and measured. while 21 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 23 % of the participants were completely agreed with the statement that Turnover has considerable impact on an organization performance as it should be properly addressed and measured. It is also seen the above results depict an obtained mean value of 2.43 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 1.158 depicts that there is a variance in the participant’s response.

It can be very clearly concluded that turnover has considerable impact on an organization performance as it should be properly addressed and measured. And organizations should keep focus on the reasons why employee leave organization and should consider employee requirements and benefits they want, in order to retain them.

Table 4.27

Negative relationship between employee turnover and performance

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

1

9

4.5

4.5

4.5

2

6

3.0

3.0

7.5

3

24

12.0

12.0

19.5

4

70

35.0

35.0

54.5

5

91

45.5

45.5

100.0

Total

200

100.0

100.0

Arithmetic Mean :

4.14

Standard Deviation :

1.042

The results obtained from the above data table have been based upon likert scale which represents an agreement and a disagreement intention of respondents which depicts that 8 % of the research participants disagree with the provided question of There is a negative relationship between the rate of employee turnover and organization performance or efficiency. while 12 % of the participants neither affirmative nor disagree with the statement so they remained unbiased in this case. Hence 80 % of the participants were completely agreed with the statement that There is a negative relationship between the rate of employee turnover and organization performance or efficiency. It is also seen the above results depict an obtained mean value of 4.14 which shows the most of the responding participants were in favour of the -agreement side of the given statement and a S.D of 1.042 depicts that there is a variance in the participant’s response.

Hence we can say that there is a negative relationship between the rate of employee turnover and organization performance or efficiency. Which means that greater will be the employee turn over lower will be the organization’s efficiency and productivity.

Discussion:

From above data analysis we can conclude that now a days organization are considering employee as their assets. So in order to capitalize their investment organizations invest a lot on their employees in terms of induction and training, developing, maintaining and retaining them in their organization. They identify need of training and development among employee and then train them. Job security is one of the main concerns of the employee working in any organization and is a major reason of leaving an organization or employee turnover. If the employee does not feel security of job and feel that he will be kicked out of the job at any time, he / she will leave organization in no time and hence turn over rate will increase. Often it is seen that employees are believed to job-hop for no reason or even for fun. They are supposed to be habitual in changing their jobs and hence are not satisfied with a single organization. Whenever they get some attraction from another employer they fell no hesitation in kicking off the current job and go to the next door. Such types of employee are not very serious about their career.

To comply with the organizational goals and objectives as well as mission statement is very important for the employee career. Whenever there is a conflict of employee with the mission and objectives of organization, he or she will leave the organization. This type of conflict arises where the employee career is not considered important and the organization only looks forward towards its own mission and objectives that is are more profit oriented in nature. Such kind of organizations have greater turnover. Which directly impacts the over all efficiency and growth of the organization. The inter-relationship of employee with the departmental heads or managers is very important to smoothly run the operations of the organization. Sometimes managers are so harsh on employee and they consider them inferior this type of attitude leads to turnover and even low efficiency of employee. Employee turnover increases due to the bad attitude of managers.

Most of the employee leaves leave companies because of low salaries and pay or lack of financial benefits. How ever organizations can make themselves competitive in these respective areas within the budget constraints. An excellent employee retaining practice is to stay competitive in offering and paying wages. Hard nature of work is also one of the reasons that employee leave organizations. When the employee has to input more efforts in order to achieve his or her given goals and objectives as compare to the financial benefits which are being provided in return, this leads to dissatisfaction and the employee will leave the organization. Satisfaction is the more common factor which directly impacts the performance of worker and productivity as well as over all performance of the organization. Dissatisfaction might be caused due to low wages, environmental issues, rash behaviour of the seniors, and conflict with the management or any other. Low job satisfaction results in employee turnover.

When a worker performs a task and achieves an objective on time, he or she needs appreciation of work. This appreciation may be in form of verbal or financial benefit. Lack of appreciation in work forces employee to leave the organization. Over all productivity of the organization is directly dependent on the employee performance as employee work is directly related to the mission and vision of the organization. Organizations suffer productivity loss due to high employee turnover rate. Indeed turnover is negatively correlated with the performance of the organization. Turnover rate also impacts the performance of organization over all. Production of a labour firm is severely impacted due to the high turnover rate. Even small percentage of turn over can cause a large amount of production loss to the company. If the workers who are going to leave the organization are technical or directly linked to production, it will directly impact the yield and organization productivity. Organization suffers technical loss due to the sudden turnover increase. Human resource managers and organizations always try to retain old employee due to the reason that new hiring may result in additional expenses and cost which ultimately impact the performance of the organization. Further old employees have not only a good experience of the working environment but also don’t need additional trainings time waste. Another major disadvantage of the turn over and new hiring is lost productivity associated with the time that co-workers must spend away from their work to help a new worker. Most of the precious time is wasted in orientation and training the new slots which results in low productivity. Costs of training, including supervisory and co-worker time spent in formal training, as well as the time that the worker in training must spend off the job. Due to this increase in the cost of training and development on new workers organization suffers productivity loss. It is recommended that in order to avoid employee turnover or reduce its impact on the organizational growth, you have to be considered all the causes and co-relations of employee turnover.

Correlation Analysis:

Correlations

Turnover due to conflict

Turnover due to low financial benefits

Turnover impacts performance

Turnover due to conflict

Pearson Correlation

1

-.016

-.020

Sig. (2-tailed)

.823

.779

N

200

200

200

Turnover due to low financial benefits

Pearson Correlation

-.016

1

.105

Sig. (2-tailed)

.823

.140

N

200

200

200

Turnover impacts performance

Pearson Correlation

-.020

.105

1

Sig. (2-tailed)

.779

.140

N

200

200

200

Turn over rate negatively impacts

Pearson Correlation

-.104

-.026

-.036

Sig. (2-tailed)

.143

.718

.614

N

200

200

200

Negative relationship between employee turnover and performance

Pearson Correlation

.017

-.184**

-.130

Sig. (2-tailed)

.810

.009

.066

N

200

200

200

Correlations

Turn over rate negatively impacts

Negative relationship between employee turnover and performance

Turnover due to conflict

Pearson Correlation

-.104

.017

Sig. (2-tailed)

.143

.810

N

200

200

Turnover due to low financial benefits

Pearson Correlation

-.026

-.184**

Sig. (2-tailed)

.718

.009

N

200

200

Turnover impacts performance

Pearson Correlation

-.036

-.130

Sig. (2-tailed)

.614

.066

N

200

200

Turn over rate negatively impacts

Pearson Correlation

1

.518**

Sig. (2-tailed)

.000

N

200

200

Negative relationship between employee turnover and performance

Pearson Correlation

.518**

1

Sig. (2-tailed)

.000

N

200

200

Interpretation:

From the correlation table above we can conclude that there is inverse relationship between employee turnover and efficiency. That is greater will be the employee turnover lower will be the performance or efficiency.

A negative correlation of -.020 between turn over and performance proves the above given statement. Similarly a negative correlation of -.130 among employee performance and turnover shows that the performance reduces with the increase in turnover rate. A significant positive correlation value of 0.518*** proves H1 hypothesis that turnover rate has a significant impact on the efficiency of the organization.

CHAPTER 5

Findings, Results & Recommendations

Research Findings:

Lack of career progression planning, low pay packages, absence of professional recognitions besides job insecurity and socio-economic problems of society are some of the basic reasons which surmount tremendous pressure on job seeker, and conducive workplace environment forced them to quit their parent organizations. However, FWO itself has to implement planned turnovers in the larger interest of the army which undoubtedly affect the speed of progress and work output of the under going projects to a great extent. For employees other than soldiers, a handsome salary with fringe benefits and well planned career progression created job satisfactions which ultimately helped retaining employees in their relevant organizations. Vast services with FWO accrued more advantages both to its employees and organization due to rich experience, added professional expertise and job securities.

To capitalize their investment organizations invest a lot on their employees in terms of induction and training, developing, maintaining and retaining them in their organization. They identified need of training and development among employee and then train them. When a worker performs a task and achieves an objective on time, he or she needs appreciation of work. This appreciation may be in form of verbal or financial benefit. Lack of appreciation in work forces employee to leave the organization. Another major disadvantage of the turn over and new hiring is lost productivity associated with the time that co-workers must spend away from their work to help a new worker. Most of the precious time is wasted in orientation and training the new slots which results in low productivity.

Research results:

Most of the employee left companies because of low salary packages or meagre financial and other benefits. However organizations can make themselves competitive in these respective areas within the budget constraints. An excellent employee retaining practice is to stay competitive in offering and paying wages. Job security is one of the main concerns of the employee working in any organization and is a major reason of leaving an organization or employee turnover. If the employee does not feel job security and feel that he will be shunt out of the job at any time, he / she will leave organization in no time and hence turn over rate will increase.

Often it is seen that employees left job without any solid reason, just finding no charm over there. They are supposed to be habitual in changing their jobs and hence are not satisfied with a single organization. Whenever they get some attraction from another employer they do not hesitate in leaving job and join anywhere else. Such types of employee are not very serious about their career. To comply with the organizational goals and objectives as well as mission statement is very important for the employee career. Whenever there is a conflict of employee with the mission and objectives of organization, employees leave the organization. This type of conflict arises where the employee career is not considered important and the organization only stress on mission and objectives which are more profit oriented in nature, rather em0ployees benefit oriented.

We can conclude that there is inverse relationship between employee turnover and efficiency. That is greater will be the employee turnover lower will be the performance or efficiency.

A negative correlation of -.020 between turn over and performance proves the above given statement. Similarly a negative correlation of -.130 among employee performance and turnover shows that the performance reduces with the increase in turnover rate. A significant positive correlation value of 0.518*** proves H1 hypothesis that turnover rate has a significant impact on the efficiency of the organization.

The inter-relationship of employee with the departmental heads or managers is very important to smoothly run the operations of the organization. Sometimes managers are so harsh on employee and they consider them inferior this type of attitude leads to turnover and even low efficiency of employee. Employee turnover increases due to the bad attitude of managers. Monotonous working conditions are also one of the reasons of leaving organisation. When the employees have lacking in variety and tediously unvarying conditions at workplace they feel dissatisfaction and started leaving organisation.

Satisfaction is the more common factor which directly impacts the performance of employees and productivity as well as over all performance of the organization. Dissatisfaction caused due to low wages, workplace environmental issues, ill behaviour of the seniors, and conflict in the management. Low job satisfaction results in employee turnover. Over all productivity of the organization is directly dependent on the employee performance as employee work is directly related to the mission and vision of the organization. Organizations suffer productivity loss due to high employee turnover rate. Indeed turnover is negatively correlated with the performance of the organization. Turnover rate also impacts the performance of organization over all. Production of a labour firm is severely impacted due to the high turnover rate. Even small percentage of turn over can cause a large amount of production loss to the company.

Conclusion

Over the last half-century, scores of scholars have analyzed the causes and consequences of job satisfaction. While "poor management" continues to be the number one reason throughout the world, as to why talented employees leave their companies, and I hate to say this, but this is a training problem or I should say lack thereof, job and life satisfaction is a close second.

Low levels of job satisfaction lead to turnover and absenteeism.

The effect of job satisfaction on job performance is weak; in fact, job performance is more likely to be a cause of job satisfaction.

Job satisfaction is determined primarily by the type and amount of rewards people get at work. Workers develop their perceptions of what they should receive by comparing their rewards to what others like them receive.

There is a positive relationship between employee satisfaction and customer satisfaction in some service situations.

There is an inverse relationship between job satisfaction and the desire of employees to form a union.

Job satisfaction and turnover have a strong correlation. Turnover is the ratio of employees leaving jobs with a company as a percentage of total employees in the organization. Job satisfaction is commonly linked to turnover ratios. Employees who are generally satisfied at work tend to stay, while dissatisfied employees often look for other work. Many factors affect the level of satisfaction among employees. Pay is noted as a key factor to job satisfaction. According to authors of the study, happiness, enjoyment, sadness or stress are much less affected by income for employees that make more than this. Other extrinsic rewards like work conditions, coworkers, and supervisors are important, according to The Career Key. Intrinsic rewards tied to actual work tasks contribute to job satisfaction as well.

"Employee turnover occurs when employees voluntarily leave their jobs and must be replaced," according to the Encyclopedia of Business (2nd. Ed.). Turnover is calculated annually as a percentage of the workforce. A turnover rate of 25 percent means one-fourth of employees that started the year voluntary left by year's end. Turnover does not include layoffs or terminations. Lack of cultural fit and unrealistic employer expectations are among job dissatisfaction factors mentioned by Sigma Assessment Systems. Employee turnover has both positive and negative results, though people often focus on the negative effects. The main problem employers have with high turnover is that it is expensive. "Direct costs include recruitment, selection and training of new people," according to the Missouri Small Business & Technology Development Centers website. Though costly, turnover can offer long-term benefits if the employees lost are not a good fit for the company. However, this mismatch is ideally discovered in the job screening process before a new hire.

Showing your employees that you are willing to recognize their accomplishments and hard work is undoubtedly the simplest and least costly methods of employee motivation. There are many ways to convey this to your employees. Token gifts, Employee of the month awards, or a pat on the back, all show how much you appreciate them. As you increase your employee's sense of pride and accomplishment he or she feels better about their job and in the end are more productive.

When your employee's function as a team, think like a coach. Reward the whole group for a job well done. This will boost morale both personally and collectively. Employee incentive programs such as small bonuses (time off, monetary), employee award certificates, etc, all serve to better the company as a whole. Remember that everybody like to feel appreciated and special for the work that they do. It's not illogical to determine that the more satisfied the employee, the better he or she will perform. So the environment that you create for your employee must be one that is constructive to positive energy. If your employees feel happy when they are working, then they will be naturally encouraged to work.

Be clear when talking to your employee and let them know that there opinion or views are important in building a viable company. Strong communication skills are necessary when assigning tasks to your people, so that the project is clearly defined and understood. Don't overload your workers with information or demand that they try to complete tasks that aren't reasonably attainable. We will probably see better results from your employee if you sit down with them periodically and ask them for feedback. We can start with anonymous employee satisfaction surveys, which will allow employees greater latitude in communicating how they honestly feel about company policies, management and their jobs. Would the employee do better if they had more training in their position? Are they concerned about the equipment they are using? Is the balance of supervision equal to their expectations? Would flexible hours help employees who have long commutes or family responsibilities? Questions of this type are a good starting point to gain the necessary information from your people.

Recommendations:

Organizations are best known by the skill and competence of their employees rather than their products. So encouraging retention of skilled manpower with their organizations is like boosting the progress and adding to the excellence.

It is, therefore, recommended that workplace environment be made conducive to ensure retention of "Talent" besides re-employment of retired servicemen so as effects of compulsory turnover could be minimized.

Human resource managers and organizations always try to retain old employee due to the reason that new hiring may result in additional expenses and cost which ultimately impact the performance of the organization. Further old employees have not only a good experience of the working environment but also don’t need additional trainings time waste.

Costs of training, including supervisory and co-worker time spent in formal training, as well as the time that the worker in training must spend off the job. Due to this increase in the cost of training and development on new workers organization suffers productivity loss.

It is recommended that in order to avoid employee turnover or reduce its impact on the organizational growth, you have to be considered all the causes and

co-relations of employee turnover.