Instant Access To 100,000+ Essays!

The Impact of Human Resource Management Practices on Employee Turnover Abstract Using the Buck HRM AuditTM, we surveyed the HRM practices of a sample of firms in Singapore. The results from stepwise regression indicated that firms that have formalized Job Analysis activities had the lowest level of employee turnover in general, and particularly, during a boom year. However, during a recession, firms that have formalized HR and Succession Planning had the lowest turnover rates. Implications of the results are explained in terms of goal setting theory. The importance of formalizing and setting work standards and activities for employees using a job analysis, as well as determination of human resource skill requirements and career paths through HR and succession planning, were able to reduce employee turnover due to the benefits of setting specific goals. The Impact of Human Resource Management Practices on Employee Turnover Introduction For Singapore firms to survive in a global economy in the new millennium, they need to design effective human resource management (HRM) practices that encourage the retention of high performing employees, particularly among skilled employees. This is beca