Job Satisfaction & Turnover: COncluding thoughts
As one can see from the two models provided in this section of the Wiki, there is a relatively strong relationship between job satisfaction and turnover. There are a variety of other models in the turnover literature that present new ideas for how job satisfaction relates to turnover however these two models are the ones with the most support currently in research. This information is critical for industries where turnover rates are relatively high such as service industries and food industries. Research has found that the annual turnover rate for food service managers is around 67% (Ghiselli, La Lopa, & Bai, 2001). This is an extremely high turnover rate and this means that the food-service industry is experiencing a high amount of costs due to turnover. This is why understanding the relationship between job satisfaction and turnover is significant. If managers are provided knowledge about this relationship and ways to improve employee satisfaction, they will be able to reduce their turnover rates significantly and save on the costs of hiring new employees.
This video offers some final guidance on dealing with turnover and job satisfaction.
Retrieved from: http://www.youtube.com/watch?v=qBiy03f6YOI&feature=youtu.be