Human Resource Planning & Factors affecting Employee Turnover and Retention Human Resource Management Research Paper
Human resource planning is currently regarded as an essential requirement for any organization to achieve the corporate business goals and to gain a competitive advantage over competitors, but it does not always appear to be given high priority in practice. High rates of employee turnover can prove very expensive and milk organization's financial resources. The costs of replacing employee positions have been escalating upward for many years. This research paper will investigate the history and evolution of human resource management and the various factors which might affect human resource planning with a focus on employee retention. A review of relevant evidence indicates that, since the 1980s, Human resource management techniques have steadily improved. Human resource management techniques have become more strategic in form and function and a focus on improved international human resource management techniques are apparent. Human resource departments are now looked upon as potential partners in the strategic decision making processes of the organization. Organizational culture emphasizes the interpersonal relationship, values of team orientation and respect for the employee has emerged as one of the dominant factors affecting employee turnover.
Human resource planning can be simply summarized as the aim of a company to have the right people, with the right skills, in the right places, at the right time. One of the most effective interventions to address employee turnover problems is the development of fully integrated Retention policy as part of the overall human resource plan.
Human Resource Planning & Factors affecting
Employee Turnover and Retention Introduction
Dwight D. Eisenhower once said “In preparing for battle, I have always found that plans are useless but planning is indispensable.” Today, Organizations face immense pressure to find ways to implement their strategies in a fast changing, turbulent business environment, in which planning lifespans are prone to shrivel because of the urge to reduce the ‘time-to-market’ intervals. Human resource management has to perform in ever changing political, social and economic times, which affect all parts of the organization and its human resource management activities. (Zeffane & Mayo, 1994). Changing socioeconomic trends have also affected the role of Human resource planning. Organizations are stressing more and more on aligning the organization and its human capital in their endeavor to achieve business goals. (Zeffane & Mayo, 1994). The corporate community is increasingly appreciative of the improvements over the last several decades that Human resource planning has been instrumental in achieving the business goals and helped to establish an advantage over competitors. (Chaneta, 2014), but Human resource planninmg does not always appear to be given high priority in practice (Rothwell, 1995) Human resource planning is defined as the process of identifying present and future human resources needs of an organization.
Chaneta describes the process of HRP as “Human resource planning compares the present state of the organization with its goals for the future and Then identifies what changes it must make in its human resources to meet those goals .( 2014) The process of human resource planning consists of three stages: Forecasting
Goal setting and strategic planning
Program implementation and evaluation. (Chaneta, 2014)
Retention & employee turnover
Turnover is the process in which employees leave an organization and have to be replaced. High turnover impacts organization by handicapping a business in achieving business goals creates a negative “image” when attempting to attract new employees and increases overhead...
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