Abstract
This paper addresses the problem of knowledge loss due to employee turnover in today’s highly competitive business world. The problem is examined by looking at the two biggest causes of turnover, voluntary turnover and retirement of baby-boomers. Also addressed are the costs associated with the departure of experienced and skilled employees. Finally, solutions and strategies organizations can take to offset or minimize the damage that is done by worker turnover.















The problem
“Retention of valuable employees is one of the most critical issues that confront leaders in today’s business world” (Mayfield & Mayfield, 2008, p.41). The truth in these words cannot be overstated. Chief Executive Officers agree that planning for the years ahead is overwhelmingly dependent upon the retention and replacement of significant employees (Frank, Finnegan, & Taylor, 2004). Organizations are consistently dealing with employee turnover either......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: Knowledge Loss
Approximate Word Count: 2309
Approximate Pages: 10 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on Knowledge Loss, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!