Individual Project HR and Corporate Strategy

Individual Project HR and Corporate Strategy As the new human resource manager, I have analyzed the various factors that result in employees leaving organizations. Among the significant causes of this include poor relationships with their bosses, the management's failure to recognize workforce performance, and an overall corporate culture that does not appreciate the employees. According to Heathfield (2019), workers who feel boredom and are unchallenged with their duty may also leave the organization.

Moreover, a worker may quit working in an organization due to poor relationships with coworkers and further developing their skills.

Buy this excellently written paper or order a fresh one from acemyhomework.com

The high turnover rate of employees can be quite costly for the jewelry company. For some firms, turnover may cost twice the cost of a worker’s salary. An employee's position in the organization may dictate turnover cost—senior workers cost higher than junior workers.

Increased turnover also demands time and resources to recruit new talent. Moreover, it consists of training, onboarding costs, and the vacant position may cause a breakdown of the production process.

The management of the jewelry company can assess the employees' morale and determine the probability of whether they are likely to leave or stay. We can conduct the assessment by engaging the workforce in informal conversations to make them realize that the company listens to them. Thus, they can mention their problems on time and allow the management to provide solutions. The firm can also analyze the workers' turnover and absence rates since high turnover and low absence rates indicate higher satisfaction. In contrast, low turnover and high absence rates will mean low employee satisfaction. Mack (2020) states that management can also utilize surveys to determine the problems among the workforce. Periodic group meetings and suggestion boxes can also encourage the crew to open up about the issues they face in the organization. Through these techniques, the workforce is likely to stay in the organization.

Reducing employee turnover begins from the hiring stage, where the management should only hire the talent that fits the job description best. Secondly, the organization should assess its wage rates regularly to ensure competitive salaries and employee benefits. Thirdly, the firm should set up an onboarding system that virtually ensures retention, followed by creating healthy, flexible work schedules. The company then develops various programs to facilitate the workers' learning

and development and discharge those that make the workplace toxic for others. Lastly, the employees that show outstanding performances should receive recognition and rewards.

I will present my proposal to the CEO of the jewelry company to indicate that I can impact change concerning the employee retention problem. I would plainly explain what the plan entails and share all the information. If the CEO asks any question, well-defined answers will be available. The benefits that the proposal will bring to the organization must also be present in my presentation. Furthermore, the change recommendations must involve all the jewelry company personnel, who will provide useful feedback. I would likewise ensure good communication skills, proper tone, and deliver the presentation to enable the CEO to understand every element.

References Heathfield, S. (2019). 10 Critical Reasons Why People Quit Their Jobs. The Balance Careers.

Retrieved 30 October 2020, from https://www.thebalancecareers.com/top-reasons-whyemployees-quit-their-job-1918985.

Mack, S. (2020). How to Measure Morale in the Workplace. Small Business - Chron.com.

Retrieved 30 October 2020, from https://smallbusiness.chron.com/measure-moraleworkplace-22859.html.