-50%
Solution
To Investigate the impact of Employee Turnover on organisation profitability and performance and Mitigation Strategies in Almarai Organisation
1.1 Background
The turnover contribute to negative effects to performance of organisations. In CIPD (2023), this entail the percentage of employees who leave organisation at a stipulated period of time calculated in percentage of entire workforce in a period of 1 year. After COVID-19 pandemic and eventual economic challenges, organisations have largely been impacted by turnover increase. In line with People Management (2023), upto 16.4% of the employees resigned in 2022. This represent a major increase of past 10% in year 2021 with turnover rate representing 23% in year 2020 and 15% in 2020. Taking into account of Saudi Arabia where Almarai has based on their operations, using the Hays 2021 Salary & Employment Report survey highlight approximately 3,500 employers and employees who represent 57% of employees already left their job roles. Also, this report highlighted in Saudi Arabia, turnover is ranked higher more than global average percentages of 56% with employees interested to switch job roles in a timeline of 12 months. Taking into account of Almarai case, having turnover, performance is reduced, increase in need for resourcing new staff, a lot of costs incurred which could be avoided.
- Research Aim
The aim of this study is to evaluate employee retention strategies and impact on organisation performance and profitability. This is achieved through a focus on Almarai organisation where the best strategy of mitigation of employees turnover is identified.
- Research Objectives
- To pursue secondary research on the concept of employees turnover and impact on performance and profitability and best practice in their mitigation
- To conduct primary research in evaluating the need for facilitating employees in different areas to ensure they stay for long in the organisation
- To generate SMART recommendations on employees turnover management to ensure organisations maintain their performance
- Project Methods, Cost and Timeline
This study would focus on the application of qualitative method (semi-structured interviews) and quantitative (survey) in a single case study context. The entire process costs approximately $2,000 as there are costs incurred to translate the study content and also findings, analysis of data and to proof-reading. The entire process would be carried out within a timeline of 5 weeks (see the following figure);
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