Milinder Recycling Company: Discuss extremely high turnover rate among new hires
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Select one of these issues and briefly discuss two different options for addressing the problem
The Milinder Recycling Company has experienced significant growth over the past two years. Due to this growth, the company is currently encountering problems in the following areas:
---especially among new hires, there is an extremely high turnover rate
---people who have worked for the company for short periods of time (sometimes only a few months) have been promoted to management positions. Several of these new managers lack sufficient management experience. This has led to poor leadership and weak communication between employees and managers.
---The IT infrastructure, especially the personnel and inventory databases, is no longer adequate for the new size of the company.
---The company has taken on substantial debt in order to expand to new markets, but several of the new markets have been very slow. It now seems questionable whether some of these new markets will ever be successful enough to justify the amount of debt.
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Solution Summary
The 630 word cited solution discusses seven possible remedies to solve the high turnover problem followed by six items calculating Employee Turnover Cost . It is a comprehensive solution.
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To reduce the high turnover rate Milinder Recycling Company can do the following:
1. Increase the level of salary for new recruits.
2. Increase the level of job satisfaction by using a friendly approach to the employees, increasing the level of appreciation, awarding good achievement and reward good performance with promotions.
3. Provide a good working environment with good physical surroundings, ergonomically designed furniture and soothing interiors.
4. Keep a close watch over employee dissatisfaction and shoot down concerns for employees.
5. Always hold detailed exit interviews and find out why the person was leaving. If it reflected on the company, those issues should be addressed.
6. Decrease the level of control over the employees and give them freedom to make decisions, this helps increase work satisfaction.
7. Make the corporate structure more flat. This helps reduce turnover.
Employee turnover can vary as a result of the industry and location of your business. For instance, the food service industry typically experiences turnover of 100-300%. The ...
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