Employee Retention in UK Essay Example | Topics and Well Written Essays - 2000 words

Employee Retention in UK - Essay Example Organizationally committed employees will usually have good attendance records, demonstrate a willing adherence to company policies, and have lower turnover rates. In particular, their broader base of job knowledge often translates into loyal customers and even pay premium price. Employee retention is an issue since the turnover levels from various industries are rising. Statistics show different percentages related to turnover rates as well as the reasons for the increasing turnover. "Turnover levels vary very considerably from industry to industry. The highest levels of turnover (22.6%) are found in private sector organisations. Successive surveys of labour turnover show that the highest levelsare found in retailing, hotels, cateringand leisure,and among other lower paid private sector services groups. The public sector has an average turnover rate of 13.7%." (Stone, 2007) Almost a quarterof employees in the UK have been in their current jobs forfive years.As a proportion of aggregate turnover, the percentage of people leaving organisations through redundancy remains small. There was a slight decreasefrom 28% to 24%of organisations making more than ten people redundant during 2006 and in those operating a recruitment freeze from 24% to 22%in the course of the year. The cost of high staff turnover can be substantial. ... irect financial costs of replacing staff but also other repercussions such as the potential loss of key skills, knowledge and experience, disruption to operations and the negative effect on workforce morale. In addition, high turnover represents a considerable burden both on HR and line managers as they are constantly recruiting and training new staff. When seeking to resolve the problems associated with high turnover, companies must first investigate the underlying causes. They need to have in mind an appropriate level of attrition by benchmarking against similar organisations and taking into account the real costs of turnover to the company. Different theories of employee retention People are vital components for the effective operation of the organisation; as a matter of fact, managers often say that people are their most important assets. The human assets are never shown on the balance sheets as a distinct category, although a big amount of money is invested in the recruitment, selection, training of personnel. Rensis Likert suggested maintaining accounts of the valuable human assets through human resource accounting. The importance of the employees cannot be over emphasized because it can determine the success or failure of the organisation. Make-You-Happy Action Teams (MAT) plays a critical role in managing employee retention. This is Z-Theory management. To briefly sate, Z-Theory management means everyone that is effected by a decision for the company gets a "say" or a "vote" in the decision (tons more on Z-Theory Management in another article). This means employees are directly involved in decision making that affects them. When then make decisions that directly affect them, they stay around longer. This theory can help in managing employee retention due

Educating in math Essay Example | Topics and Well Written Essays - 500 words

Educating in math - Essay Example Every problem in mathematics requires understanding of the underlying concept and using the ideas to solve the problem. By studying mathematics major, I have the opportunity to work on many mathematics problems in various topics such as geometry, calculus and statistics. Through the study of mathematics, my analytical skills will be enhanced, and this will help me think clearly. For instance, one of the analytical skills needed in mathematics is paying attention to detail. This will allow my mind develop the ability to think critically and come up with logical arguments. In addition, one the important skills in mathematics is the ability to investigate in order to understand and solve mathematics problems. This skill also contributes to improving my thinking through deeper analysis and examination of a problem. Studying mathematics involves interpreting texts, mathematical expressions, functions and graphs. As a student, I have to communicate these ideas to the teacher and fellow students in order to demonstrate my understanding. Therefore, through mathematics, my communication skills will be greatly enhanced. The math major course gives me the opportunity to engage with fellow students and the teachers in understanding mathematical concepts and solving problems. Communication is important in every aspect of life, and mathematics helps me improve on this important skill. This will be vital not only to my social life but also throughout my career. The knowledge acquired by studying mathematics major is important in enhancing creativity and innovation. In particular, the knowledge gained through studying various topics in mathematics will help me create solutions to current problems. For example, the ideas gained through the study of statistics could be used to provide creative solutions on how to manage an organization’s data. The math major course offers the flexibility one needs in providing creative and innovative solutions to various problems.