BUSI 642 Chapter 6: Chapter 6
2 Mar 2018
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Chapter 6: managing employee separations, downsizing, and outplacement. Turnover rate: the rate of employee separations in an organization. Estimated cost of turnover: 25% to 300% of the lost employee"s annual compensation, types of costs (4, recruitment, selection, training, separation. Exit interview: an employee"s final interview following separation. The purpose of the interview is to find out the reasons why the employee is leaving (if the separation is voluntary) or to provide counseling and/or assistance in finding a new job: performed by hr or web based. Benefits of employee separations (4: reduced labor costs, replacement of poor performers, opportunity for greater diversity. Factors relating to the decision to quit (2: level of dissatisfaction with the job, number of attractive alternatives the employee has outside the organization. Retirements: usually occurs at the end of an employee"s career, usually result in the individual receiving retirement benefits from the organization, organization normally plans for them in advance.
