Investigations on Novel and Effective HR Practices In Employee Turnover In Multinational Companies

Abstract

The research done in this paper to understand the effect of the employee's personal choice to leave the organization. Employee turnover is a common problem encountered by many companies despite their type, size, nature etc. Retaining employees is not an easy task it requires understanding their needs and what is being done for the improvement of their working lifestyle. No matter what is going on in the economy, companies are always at risk of losing their employees to their competitors. It can also have a negative impact on the customers, the longer employees stay in the organization they get to know its customers and what unique factors make them loyal to the organization. The costs faced by the company for the recruitment process is very high due to high employee turnover. Research has proved that good HR and pay practices of the company play an important role in retaining employees, moreover nowadays employees also look for companies which can provide something else aside from good pay packages. The formation of effective HR policies will decrease employee turnover, help earn respect from employees, bring uniformity to the organization giving a sense to equity towards all employees. © 2023 IEEE.