Strategies to Reduce Voluntary Employee Turnover in Business Organizations

Strategies to Reduce Voluntary Employee Turnover in Business Organizations by Kevin Lance Bernard MEd, Strayer University, 2006 MBA, Strayer University, 2005 BBA, Fisk University, 2000 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2018 Abstract Industry leaders in the United States have spent $11 billion annually in advertising, hiring, and training expenditures associated with voluntary employee turnover. Using employee turnover theory as the conceptual framework, the purpose of this multicase study was to explore strategies leaders of marketing and consulting firms used to reduce voluntary employee turnover. Participants were purposefully selected based on evidenceIndustry leaders in the United States have spent $11 billion annually in advertising, hiring, and training expenditures associated with voluntary employee turnover. Using employee turnover theory as the conceptual framework, the purpose of this multicase study was to explore strategies leaders of marketing and consulting firms used to reduce voluntary employee turnover. Participants were purposefully selected based on evidence of their successful experiences in reducing voluntary employee turnover in their organizations. Data were collected by conducting semistructured interviews with 6 leaders in 3 marketing and consulting firms located in the southeastern United States and by reviewing organizational documents related to strategies to reduce employee turnover, including annual reports, newsletters, policy handbooks, and financial statements. Data were analyzed using Yin’s 5-phase elements of data analysis: (a) compile, (b) disassemble, (c) reassemble, (d) clarify, and (e) conclude. Three themes emerged from this study: leaders’ comprehension of reducing voluntary employee turnover, essential strategies for leaders to reduce voluntary employee turnover, and that employee commitment and performance management to reduce voluntary employee turnover. Leaders of marketing and consulting firms and other business organizations could create positive social change through effective strategies to reduce employee turnover and unemployment. Reducing unemployment is important because unemployed individuals experience detrimental changes in family relationships, higher mortality rates, and increased physical health problems. Strategies to Reduce Voluntary Employee Turnover in Business Organizations by Kevin Lance Bernard MEd, Strayer University, 2006 MBA, Strayer University, 2005 BBA, Fisk University, 2000 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2018 Dedication I dedicate this study to God and my Lord and Savior. All glory belongs to God, for, if you can believe, all things are possible to him who believes. I thank my mother, my father, and my sister who have supported and listened to me along this doctoral journey. A special dedication to Bailey, Benjamin and Jay to carry on the torch and to do even greater exploits in this lifetime. You all are the greatest! Acknowledgments I would like to thank God for giving me the opportunity for starting and completing a very difficult but satisfying journey. With more than a profound appreciation, I would like to thank my study chair, Dr. Jorge Gaytan for providing kind, personal guidance, coaching, and effective leadership throughout the whole dissertation process. Dr. Gaytan gave me hope by providing valuable advice that increased the value on my dissertation and helped me complete the doctoral journey. Dr. Gaytan, thank you for your patience and support as I learned to strengthen my resolve during this journey. I would like to thank my second committee member, Dr. Carol-Ann Faint and URR member, Dr. Matthew Knight, for the valuable advice, support, and timely feedback and the attention to detail and persistence for perfection. The expertise provided has helped me understand and acquire the essential knowledge to increase the quality of my study. I would like to thank all the participants for their time and valuable information during the interview process in this study. The last acknowledgment is to Dr. Susan Davis, Director of the Doctor of Business Administration program, for her teaching, leadership, and encouragement. “If There Is No Struggle, There Is No Progress” – Frederick Douglass