`United HealthCare tuition reimbursement and is inadequate to motivate employees to further education which results in hig turnover. Purpose: improvements to tuition reimbursement program to motivate employees to further education and lower turnover rate

Running Head : Retention Strategies

High Employee Turnover Rate and Retention Strategies

[Name of Writer]

[Name of Institution]

Abstract

Currently , high employee turnover rate is a major problem which organizations face . This leads to major failures in the organizational structure of any company . It is extremely difficult for managers to select good employees but it is even more difficult to retain such a workforce . This identifies some of the major reasons why employees leave an organization . It is very important for managers to understand these reasons

Moreover , this project

discusses the possible steps which employers and managers can take to curb down a high rate of employee turnover . The United States Dept . of Labor reports that the expenses incurred by an organization during the overall replacement procedure of an employee add up to almost one-third of the new employee 's yearly income . Another formula estimates the direct expenses incurred during this whole procedure as 25 of the yearly salary as well as 25 of the benefits Again , these add up to around 30 of the yearly salary . Ironically these direct expenses do not take into consideration the indirect costs of a high turnover rate

Although this focuses more on high employee turnover rate in the healthcare industry , the causes and consequences of them discussed within this are not just limited to any specific industry Furthermore , the solutions mentioned in within this are also applicable in other sectors besides healthcare . In the end , there are a few useful suggestions for employers and managers to assess their organizations and to retain valuable employees

TABLE OF CONTENTS

CHAPTER 1 : OF THE PRBLEM--------------------------5

Statement Of Purpose And Objective ------------------------------------------5

Setting Of Problem----------------------------------------------------------------5

History and Background of the Problem --------------------------------------7

Example of Direct Expenses of Turnover-------------------------------------8

Scope of the Project-------------------------------------------------------------10

Importance and Significance of the Project----------------------------------11

CHAPTER 2 : LITERATURE REVIEW ------------------------------------16

Five Reasons Workers Leave--------------------------------------------------21

Problems of Employees--------------------------------------------------------20

Employee Training Program---------------------------------------------------22

Training Employees to Decrease Turnover Rate-----------------------------26

Career Development------------------------------------------------------------- -29

Flexible Timings----------------------------------------------------------------- -34

Employee Turnover --------------------------------------------------------------35

Shared Jobs-------------------------------------------------------------------- -----37

Disadvantages----------------------------------------------------------- ----------38

Advantages ------------------------------------------------------------------------ 38

Growth Opportunities----------------------------------------------------------- --40

Management and Turnover-------------------------------------------------------42

CHAPTER 3 : RESEARCH DESIGN AND DATA COLLECTION PLAN--45

Research Approach---------------------------------------------------------------- -45

Data Resources -----------------------------------------------------------------------4 6

Data Collection Methodology-------------------------------------------------------48

CHAPTER 4 : ANALYSIS AND PRESENTATION OF THE DATA --------48

Introduction------------------------------------------------------------ -----------------48

Results of the Survey (Summary and Conclusion -------------------------------48

CHAPTER 5 : CONCLUSION AND RECOMMENDATIONS-----------------51

Suggestions for Companies------------------------------------------------------------53

Assessing Your Company for Noble Cause------------------------------------------53

Assessing a Company for Partnership-------------------------------------------------54

Suggestions for Employers-------------------------------------------------------------56

Glossary ------------------------------------------------------------------------ -----------58

References-------------------------------------------------------------- ------------------ -59

Appendix A----------------------------------------------------------------------- --------60

Chapter 1 : OF PROBLEM

Section 1 .Statement of Purpose and Objectives

The purpose of this project is to address the steps that an organization can take to reduce the employee turnover rate . During this project special emphasis will be given to the improvements which are required in tuition reimbursement programs and the benefits of educated employees The objectives of this project are

to elaborate the causes of high turnover

to discuss the consequences of high turnover , and

to explain the solutions to...