Part II – Human Resource Management  (MGMT 6022)

Part II – Human Resource Management

 (MGMT 6022)

Turnover continues to be a financial concern for organizations.  Conduct research on turnover and discuss both the financial (pay structure, benefits; talent acquisition/recruitment costs, training and development costs, loss of Knowledge, Skills, Abilities on production when an employee leaves), and non-financial issues (person/organization fit, psychological contracts, work-life balance) that might lead to increased turnover.  Your response should be grounded in the literature and theory. You may not find specific articles synthesizing these specific concepts with turnover, but you will have to synthesize these concepts given the knowledge gained throughout your program.

• Please discuss theories behind financial concerns in detail. Relate the theories to costs associated with high turnover in your response. It is important that your content is comprehensive and synthesized.
  • Expectancy Theory – Performance based on accountability; achieve outcomes based on meeting performance goals; value attached to work—related outcomes.
  • Equity Theory – The relationship between what an individual “gives” to an organization to what they receive and how it affects turnover equity versus inequity.
  • Agency Theory –Addresses the relationship between the principle (delegates work) to the agent (performs the work) and the problem when incentives/contracts are in contradiction.
• Additionally, discuss theories behind non-financial concerns (person/ organization fit, psychological contracts, work-life balance) in detail. It is important that your discussion is comprehensive and synthesized.
  • Motivation Theory – The relationship between motivation and environment, growth, recognition, and social/psychological needs.
  • Work/Life Balance – Organizational support for work-non-work roles to increase life satisfaction.
  • Psychological Contracts – Informal agreements and obligations as perceived by the employee.
  • Person/Organization Fit – Employee ethics, values and beliefs in comparison or contradiction to organizational mission, values and ethics.
• Apply each of the above theories to turnover and relate the theories to financial and nonfinancial issues with turnover.
• Your response should be grounded in the literature and theory. Many of these theories and issues have been discussed in your HR classes.  Review the articles provided below.  You may need to research and provide additional resources for your response to this question.
• You may not find specific articles synthesizing these specific theories related to turnover, but you will have to synthesize these concepts given the knowledge gained from your various courses related to human resources.