Employee turnover

Almost all midsize CROs are privately held, so financial information needs to be obtained through banking references, auditors, and other reliable sources. It is extremely important for sponsors to investigate the financial capabilities of these companies, as their financial stability will impact their performance and can be problematic if they are, or become, financially distressed. Careful assessment of employee turnover is also a prudent element of midsize CRO due diligence. 

These and other efforts to strengthen communication over the past few years have made us a more flexible organization, and one that is much more open to new ideas. Our associates wanted to tell us how they felt about working for The Home Depot, and as we have acted on the results, we have improved in the areas that we targeted to improve. Participation levels in the survey are off the charts, and employee turnover is down. And, as noted earlier, our average ticket is up, which we attribute partly to happier and better-motivated associates who simply sell more effectively. 

Studies indicate financial rewards alone cannot provide employee satisfaction and retention. High employee turnover costs companies tremendous financial and competitive resources. Many employees faced with equal or higher pay but unsatisfying work will move onto another company or position. A poorly integrated QMS with complicated processes is often the foundation for that dissatisfaction. To repeat work, lose valuable time, or deliver substandard product does not satisfy today s highly educated and competitive worker in the pharmaceutical and biopharmaceuti-cal industry. The cost to recruit, replace, relocate, and retrain employees is significant. Avoidance of these costs can be used as a partial basis for support of the program. 

For example, you may write in your resume, "I managed a store, hired and fired employees, and explained the products to the customers." If you use the AutoWriter feature of WinWay Resume, your resume is more likely to read "I managed the most profitable store in the chain, had the lowest employee turnover rate, and made sure that each and every customer that came to the store was fully satisfied before they left." Wouldn t you think that this will make an employer more likely to invite you for an interview ... 

In turn, this dedication to the betterment of company employees will create greater employee loyalty. A company that puts out funds to pay for the education of its employees will get its money back by having employees stay with the company longer. It will reduce employee turnover, because even employees who don t take advantage of the tuition reimbursement program will be more loyal to their company just knowing that their company cares enough to pay for their education. 

How, according to the passage, will unconditional tuition reimbursement reduce employee turnover ... 

There are three main categories of visible cost to employee turnover termination costs, recruitment cost, and new hire cost. Use the format formd in Table 6.4 to eshmate the cost of a turnover at your organizahon. 

A major issue in clinical research today is that of the overwhelmed study coordinator. Because of the ever growing number of details that comprise clinical studies, coordinators can easily become bogged down and, ultimately, very frustrated. This situation can lead to a decline in work quality or a high level of employee turnover. According to a recent survey, 53% of study coordinators have been in their jobs for three years or less (Borfitz, 2004). This poses real challenges in terms of experience level, knowledge of GCP and familiarity with site operations. 

Standardizing procedures becomes particularly relevant as sites grow internally or eventually expand into more than one location. In addition, employee turnover is inevitable, so the SOPs can serve as a basic element of the training program for new hires. 

Staffing problems experienced by the operations and maintenance contractor also contributed to the schedule slippage. The contractor has suffered from a lack of qualified personnel to fill technical and management positions because of rapidly increasing staffing needs, and high employee turnover. Recruitment was hindered by the poor living conditions on the island. 

Additionally, that an organization that has historically promoted from within and has good employee relations may benefit from more from teamwork than an organization that has high employee turnover rates and does not invest in long-term development of human resources. 

What formal and/or informal assessment methods and measures do you use to determine employee well-being, satisfaction, and motivation How do you tailor these methods and measures to a diverse work force and to different categories and types of employees How do you use other indicators such as employee turnover, absenteeism, grievances, and productivity to assess and improve employee well-being, satisfaction, and motivation ... 

Chapter 2 examines the extensive literature which documents the high accident rate associated with new employees. Research on the relationship between job tenure and accidents, on the relationship between age and accidents, and on the relationship between employee turnover rates and accidents is reviewed. All of the research evidence points to safety issues associated with new employees. Smdies from around the world, and conducted in many different industries, have consistently shown higher accident rates associated with new employees. Furthermore, it is very likely that many of the accidents where the injured person is a senior employee (an individual that has worked for the organization for sometime) have in fact been directly caused by a new employee or by factors associated with new employees. Targeting new employee accidents is thus not only necessary to help reduce, and hopefully eliminate, accidents where new employees are injured, but should also help reduce the overall accident rate in an organization. 

At its broadest level, there are three different bodies of research that have addressed new employees occupational accident rate. All three literatures clearly show that an employee is more likely to have an accident at work in their initial period of employment in a job. The larger two bodies of literature are those which have examined the relationship between job tenure and accidents, and the relationship between age and accidents. The age literature has tended to focus on young or youth worker, and these workers are often new employees (have relatively short job tenure), but this is not always the case. Generally, the research on the relationship between age and accidents has not attempted to disentangle the relationship between age and job tenure. Nevertheless, and despite some interpretation difficulties, I will examine this literature. Finally, there is a small literature which has looked at the relationship between employee turnover rates and accidents, which is also suggestive of safety issues associated with new employees. OveraU, it seems clear that new employees are a safety risk and may even be classified as a safety hazard. 

Predicted Global Employee Turnover Rate Increases... 

Evidence is mounting which suggests that employee turnover rates are steadily increasing. A paper published by the Hay Group (2012) based on research in... 

Griffeth, R. W., Horn, P. W., Gaertner, S. (2000). A meta-analysis of antecedents and ctmelates of employee turnover Update, moderator tests and research implications for the next millennium. Journal of Management, 26(3), 463-488. 

Horn, P. W., Kinicki, A. J. (2001). Toward a greater understanding of how dissatisfaction drives employee turnover. The Academy of Management Journal, 44(5), 975-987. 

Decreased employee turnover - less training for new employees... 

By carefully monitoring your workers during the upcoming hot months and keeping their core temperatures down, you can maintain the productivity levels achieved during the cooler months, while reducing errors and sick days. When you help your workers avoid heat stress, you not only improve their quality of life, you may also discover a reduction in employee turnover — and the additional costs associated with that. 

Underutilized People - This includes underutilization of mental, creative, and physical skills and abilities, where non-Lean environments only recognize underutilization of physical attributes. Some of the more common causes for this waste include - poor workflow, organizational culture, inadequate hiring practices, poor or non-existent training, and high employee turnover. 

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