Causes of low employee retention rate

16 Pages

Description: Low rate of employee retention is synonymous to high rate of employee turnover (White, 2020). When the theory of labour turnover is expressed it conveys the same meaning as for employee turnover (Khan, 2011). According to Hedwiga (2011), the expression ‘labour turnover’ signifies the rate at which employees withdraw from their employment. This concept can take various descriptions such as, leave, exit, quit or attrition (Morrell et al., 2004). Similarly, labour turnover represents the length of time within which employees continue to stay in an organization or how often new employees are acquired by the organization as substitutes for those who left the organization (Akinyomi, 2016). Whilst global competition in business heightens, the necessity for a competent management of human resource in organization comes into sharp focus. Whereas it is fairly easy to acquire other resources for production or service delivery, the same cannot be said of talent or knowledge (Wiig, 2012). Hence, organizations fix their focus on employee retention simply because employee turnover is upending for organizations and employees mutually (Hom et al., 2017).

Author: Samuel Bаіmbіll-Johnson