Effective Strategies Employed by Retail Store Leaders to Reduce Employee Turnover

• Main Author: Beato, Alexandro
• Language: EN
• Published: Walden University 2017
• Subjects: Business administration|Health care management
• Online Access: http://pqdtopen.proquest.com/#viewpdf?dispub=10278363

<p>Employee turnover affects retail organizations in the form of lower productivity, decreased profitability, and reduced sustainability. In 2014, organizations lost over $11 billion in tangible and intangible assets as the result of employee turnover. High employee turnover rates have an adverse effect on productivity, which lead to unsustainable business practices. The number of retail employees who quit their jobs each month increased from 432,000 in December 2016 to 464,000 in January 2017, which indicates that some managers lack strategies to reduce employee turnover. Using the transformational leadership theory, the purpose of this single case study was to explore effective strategies used by retail store managers from El Paso, Texas to decrease employee turnover. Participants were purposefully selected because of their experience implementing effective employee turnover reduction strategies; they reduced employee turnover from 24% in 2012 to 15% in 2016. Data were collected via face-to-face semistructured interviews with 10 managers and the review of organizational documents on employee turnover. Data were analyzed using inductive coding of phrases, word frequency searches, and theme interpretation. Three themes emerged: supportive leadership reduced employee turnover, managing personnel scheduling decreased employee turnover, and competitive compensation reduced employee turnover. Reducing employee turnover contributes to social change by providing retail store managers with valuable insight that can lead to enhanced sustainability, improved organizational growth, and increased profitability, which might promote prosperity for local families and the community.