Deliverable Length: 5–8 PowerPoint Presentation Slides

Deliverable Length5 8 Powerpoint Presentation Slides With Speaker Not

Deliverable Length: 5-8 PowerPoint presentation slides with speaker notes (excluding the title and reference slide); including detailed speaker notes of words speaker notes for each slide. As the new HR manager of a jewelry company, you have put together some preliminary reports for the CEO. One of the reports you compiled focuses on employee turnover. The jewelry company is an organization with aggressive expansion goals. In the last 2 years, the company has continually hired new employees, yet it has not achieved the staffing levels it desired. The company knew that some employees had left the organization, but turnover rates have not been formally tracked.

After your preliminary fact-finding, you were surprised to discover that the turnover rate for the past year was 38%. You know the CEO will not be pleased with this turnover rate, and you have made the decision to prepare yourself more before presenting the report to the CEO. Turnover presents a significant cost for an organization, so you recognize that this will be an opportunity for you to demonstrate how you can partner with the executive team to turn this situation around and help the company be more competitive. Prepare a short presentation for the CEO on the situation and possible reasons as to why employees are leaving at such a high rate. As you are preparing your presentation, you should consider the following: In detail, discuss several of the reasons why employees tend to leave organizations.

You plan to present the financial impact to the CEO to get a real sense of the significance of the situation. What factors will you consider in preparing this financial estimate? For this assignment, you are not required to determine the actual dollar figure, but instead, you are to consider what would contribute to the cost of turnover. Being proactive, what measures can be taken to assess the morale of current employees, and how likely they are to leave or stay? What process do you recommend for partnering with the management team to reduce turnover in the upcoming years? As you consider your role, how will you position this to the CEO to demonstrate the value you can bring to addressing this problem?

Paper For Above instruction

The high employee turnover rate of 38% within a jewelry company with aggressive expansion plans presents a significant challenge that requires immediate and strategic attention. As the new HR manager, it is crucial to understand the underlying reasons for this turnover, assess its financial impact, and develop proactive measures to stabilize and enhance employee retention. This presentation aims to outline these aspects to the CEO, emphasizing both the problem and the solutions.

Understanding Employee Turnover in the Jewelry Industry

Employees leave organizations for various reasons, often rooted in both organizational and personal factors. Common causes include inadequate compensation and benefits, limited career advancement opportunities, lack of recognition, poor management and leadership, inadequate work-life balance, and a non-conducive organizational culture (Hom et al., 2017). In a highly competitive and customer-centric industry like jewelry retail, employee engagement and job satisfaction are particularly critical, as high turnover can disrupt customer relationships and brand reputation (Kusluvan et al., 2010). Moreover, turnover may be influenced by external factors such as economic conditions and the availability of alternative employment opportunities, especially in a thriving retail environment.

Financial Implications of High Turnover

While the specific dollar amount associated with turnover can be complex to calculate, various factors contribute to its total cost. These include direct costs such as recruitment expenses, onboarding and training new employees, and administrative costs, as well as indirect costs like lost productivity, decreased employee morale, and potential damage to customer service quality (Cascio & Boudreau, 2016). Prolonged vacancies can also lead to overwork among remaining staff, further exacerbating turnover. In the context of a jewelry company aiming for rapid expansion, high turnover undermines strategic growth by increasing operational costs and reducing workforce stability.

Assessing Employee Morale and Likelihood to Leave

To prevent further turnover, proactive assessment of employee morale is critical. Implementing regular employee engagement surveys, conducting exit interviews, and maintaining open communication channels are effective methods to gauge job satisfaction and identify potential issues early on (Saks, 2006). Recognizing signs of disengagement—such as decreased productivity, absenteeism, or lowered morale—can prompt timely interventions. Also, analyzing turnover data to identify patterns or departments with higher departure rates can help tailor targeted retention strategies.

Strategies for Partnering with Management to Reduce Turnover

Reducing turnover requires a collaborative approach between HR and management. Recommendations include improving compensation packages to remain competitive, offering clear pathways for career development, recognizing and rewarding employee achievements, fostering a positive organizational culture, and promoting work-life balance initiatives. Furthermore, leadership training to enhance managerial skills can improve employee-supervisor relationships, which are often the primary reason for turnover (Schyns & Schilling, 2013). Establishing a formal employee retention program, including regular check-ins and personalized career planning, can also improve loyalty and reduce unintended departures.

Positioning HR’s Role and Demonstrating Value to the CEO

As the HR leader, positioning these strategies effectively involves emphasizing the financial and operational benefits of reduced turnover, such as lower recruitment and training costs, improved productivity, and enhanced customer satisfaction. Presenting data-backed arguments and proposing metrics to monitor progress demonstrates HR’s strategic value. By framing retention initiatives as essential to sustaining the company's growth trajectory and competitive advantage, HR can position itself as a vital partner in future success.

Conclusion

The high turnover rate in the jewelry company signals a pressing need for comprehensive analysis and strategic intervention. Understanding the reasons behind employee departures, evaluating the financial impact, and implementing proactive retention strategies will be vital. By partnering with management and demonstrating the value of effective HR practices, the organization can mitigate turnover costs, improve employee engagement, and support its ambitious expansion goals.

References

• Cascio, W., & Boudreau, J. (2016). The search for global competence: From international HR to talent management. Journal of World Business, 51(1), 103-114.
• Hom, P. W., Mitchell, T. R., Lee, T. W., & Griffeth, R. W. (2017). Organizational Exit: An Integrated Model. In Managing Employee Turnover (pp. 47-66). Taylor & Francis.
• Kusluvan, S., Kusluvan, Z., Ilhan, I., & Majant, S. (2010). Employees' perceptions of internal service quality in the hospitality industry. Tourism Management, 31(2), 22-39.
• Saks, A. M. (2006). Antecedents and consequences of employee engagement. Journal of managerial psychology, 21(7), 600-619.
• Schyns, B., & Schilling, J. (2013). How bad are the effects of bad leaders? A meta-analysis of destructive leadership and its outcomes. The Leadership Quarterly, 24(1), 138-158.
• Hom, P., Mitchell, T., Lee, T. W., & Griffeth, R. (2017). Managing Employee Turnover. Taylor & Francis.