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Essay / Employee Safety and Job Security - 714
673), retention management should be based on three types of turnover, voluntary, laid off and downsizing. Not all businesses struggle with turnover; for some, it's the way of life and the costs are factored into the budget. However, for others, any type of high turnover can be detrimental to company profits, employee salaries, and benefits offered. First, let's look at voluntary and involuntary turnover that affects retention. Voluntary departures are caused by many different reasons. Employee turnover can result from things like job dissatisfaction, job unsuitability, knowing that job opportunities are plentiful. Two reasons I will talk more about are micromanagement and employee loyalty. As noted earlier in the introduction, when employees are dissatisfied, perhaps because they have been placed in a field that does not match their skills, they are more likely to seek new employment. Another part of the turnover is made up of layoffs and workforce reductions. Dismissal is just that: members are removed due to disciplinary action and their job performance. While the reduction in turnover is the result of excess staff (Heneman III, Judge, Kammeyer-Mueller, 2015, p. 675). There are also other reasons for voluntary employee turnover, such as generational differences in employment. Current generations are more likely to view employment as a piece of their life's puzzle rather than as the first essential anchor piece without