MHR 523 Lecture Notes - Lecture 10: Job Satisfaction, Job Performance, Severance Package
16 Apr 2017
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Employee contract: formal agreement between employer and employee, employee cannot be prematurely dismissed without just cause if a term is specified. Implied contract: indefinite period of time, may be terminated by either party with reasonable notice, more common. Turnover: termination of individual"s employment with the organization. Voluntary: as hr when employee quits, questions to ask, is there discrimination/harassment, are we providing right compensation, bad relationship with boss, lack of recognition, movement in organization. Involuntary: as hr when employee fired, questions to ask, forecasting demand issue (hired too many, didn"t conduct right test when hiring employee, poor training, employee not prepared. Separation interview, administration, separation or severance pay: vacancy costs. Temporary workers, overtime, loss of sales due to vacancy: replacement costs. Reasons for voluntary turnover: suboptimal hiring practices, difficult managerial style, lack of recognition, lack of competitive compensation systems, toxic workplace environments. Reasons for involuntary turnover: unacceptable job performance, economic/financial pressures, new strategic decision.
