High turnover rate in ZPI Department of ABC Corporation

Abstract

Over the span of many millennia, science and technology have made many glowing achievements and breakthroughs in an ever-changing society. Henceforth, they accelerate the booming development of IT industry to enhance the quality of life as well as productive working performance. Although the general public could not deny the imperative and crucial role of human beings, even we have novel and state-of-art technical machinery. For this reason, any corporations also attach much importance to the workforce; somehow, IT industry has been facing encounters to attract and retain staff due to the fast-paced, competitive advancement. A turnover analysis on IT (Information Technology) industry reflects the pessimistic impact of high turnover rates could be significantly harmful to IT companies (1). In fact, the employees are the most valuable asset in this industry, which forms a stable development team to guarantee the fulfillment of conditions and terms of clients’ contracts. On the upshot, recruiting and developing new replacements for the fitting organization could cost much more huge time, effort and finance of recruiting, training new counterparts than maintaining current ones. High staff turnover is acknowledged to be a detrimental and potential threat to the business's revenue. The main purpose of this thesis is to explore the causes that lead to a high turnover rate at ZPI Department. The finding of the study indicated that ineffective leader style is the main drive why employees decided to leave the company and recommend some apt and applicable solutions to retain employees based on the method of using validated data from secondary data, in-depth interviews, statistical surveys in combination with theory-based approach.