In this week’s Discussion, you discussed specific metrics companies should use when evaluating their employee turnover and retention rates. However, there may be some additional qualitative data points you didn’t consider. These data points are often collected through ways such as exit interviews, employee satisfaction surveys and 1-year retention metrics. When evaluating this case study, look for ways to include these data points.
Case Study
Global Protech’s executive team is concerned about the company’s high turnover and they want to take steps to improve their retention rates.
Maia, the HR director at Global Protech, has asked you to provide the executive team with a presentation on the specific turnover and retention metrics for the company and a recommendation on how the company can improve its retention rates.
To complete this Assignment, you are tasked with using Global Protech’s HR intranet site, the Learning Resources for this week, and online to address the following in a minimum 10-slide PowerPoint presentation, including detailed speaker notes.
Using the Global Protech Turnover Calculations (Excel document), identify the variations in turnover by the three position types listed.
Considering the positions with the highest turnover rates, identify the reasons why employees are leaving.
Hint: Be sure to use Global Protech’s HR intranet to find additional information to help identify why employees are leaving.
Using the turnover metrics above, develop a retention incentive/benefit recommendation for the executive team.
Calculate the specific cost per employee of your recommended retention incentive/benefit, and then show the return on investment of the program.
Resources: https://www.shrm.org/hr-today/news/all-things-work/pages/to-have-and-to-hold.aspx
https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/managingforemployeeretention.aspx
https://smallbusiness.chron.com/negative-impacts-high-turnover-rate-20269.html
https://www.forbes.com/sites/billconerly/2018/08/12/companies-need-to-know-the-dollar-cost-of-employee-turnover/#3dfb2356d590
https://www.huffpost.com/entry/how-much-does-employee-turnover-really-cost_b_587fbaf9e4b0474ad4874fb7
https://mym.cdn.laureate-media.com/2dett4d/Walden/MHRM/PROG/Global_ProTech/index.html