How Human Resources Can Improve The Performance Of...

M1: †¢Discuss how human resources can improve the†¨performance of Morrison’s†¨Ã¢â‚¬ ¨ Staff retention is the process of keeping staff in the business; businesses want to keep their employees working for them for as long as they can. During the employees working period, the employee would have accumulated experience and developed their skills whilst working for that business. Finding a new employee will be easy to find however they will not encounter the same knowledge and level of experience. ‘On average the cost of replacing an employee is  £30,000, it also takes up 28 weeks on average for a new recruit to get up to speed.’ When employees decide to leave the company, the employer should preform an exit interview. During the exit interview, the employer may discover the reason/s why the employee wants to leave. It may be that he/she feels as if they are not being paid enough. Employers can try to resolve the issues, which may reduce the risk of other employees leaving the company. This improves performance as retaining staff means that you will have mor e employees working for. A great number of employees mean that you are more likely to make more profit at a faster rate, this will have a positive impact on the business’ financial performance. Retaining staff also means that they will continue to develop their skills and accumulate experience even further. Once a staff member has been there for a long time they may be promoted to a managerial role.Show MoreRelatedPublic Services And Public Sector2871 Words   |  12 PagesSchools, shops, restaurants, hotels, hospitals, banks, spas, and universities are all businesses in the sense that they all have corporate missions or targets to deliver whilst, at the same time being under constraints and pressures. These businesses can be divided into 3 categories; 1. Private 2. Public 3. The Voluntary/Third Sector e.g. Charities and Co-Operatives. 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