Current Events: Employees’ Turnover Rate

According to a research by CareerBuilder, approximately 21 percent of the full-time employees have diverse plans of changing their jobs in 2014. This proves to be the largest percentage of expected turnover in relation to post-recession era. Some of the factors contributing to this massive increase in the percentage turnover rate among employees include job dissatisfaction, work-life balance, and lack of promotion opportunities (Chad, 1). Employees cite lack of value and salary issues as main reasons for their job dissatisfaction. It is essential to illustrate that about 58 percent of the employees are dissatisfied with their jobs while 45 percent of the workers seeking new jobs cite dissatisfaction with advancement opportunities. In addition, 39 percent of the employees note their dissatisfaction with work-life balance hence the need to acquire new employment opportunity. According to Haefner, human resources expert, there is need to offer frequent recognition, merit bonuses, defined career paths, and training programs to illustrate the importance of employees within the organization. Moreover, this trend illustrates the fact that the labour market is warming up thus existence of a healthier economic cycle (Chad, 1).

I think employees’ turnover rate should be one of the essential reasons for an organization to review and re-examine its programs, processes, systems, and structures with the aim of addressing issues affecting employees. Employees are vital factors of production in the current society and economy. Some of the factors that organizations need to eliminate include job dissatisfaction, under-valuing employees, discrimination, and poor working conditions. Employees need to feel important and operate in an appropriate environment to maximize their potential and output for the benefit of the shareholder and stakeholders. This would be an effective approach towards limitation of the looming employees’ turnover rate in 2014.

Work Cited

Chad Brooks, “I Quit, Will be Familiar Refrain in 2014”, Business News Daily. Retrieved from <http://www.businessnewsdaily.com/5745-employee-turnover-expected-to-spike-this-year.html> on 22nd January 2014.