Retirement, Termination of employment
Employees leave our organisations in a variety of ways and number of circumstances, and for a number of reasons. Stop for a momento and make a list of as many of these circumstances as you can think of. In making our list we may have categorized the reason for employee exit into those that signify voluntary exit and those that are involuntary.
Voluntary reasons include:
- Retirement or early retirement
- Voluntary non-employment, often due to change in circumstances including parenting or studying.
The involuntary reasons you have listed may include:
- Redundancy
- Dismissal, including dismissal due to ill-health
For each of these reasons for exit, these is a range of circumstances that apply, except perhaps for retirement, which is essentially age-related. People talking up another post for example, may be doing so for a number of reasons such as:
- Personal reasons for moving to another geographical area
- Because they have been offered more pay or better conditions for doing the same work with another employer
- Opportunities for promotion
- To escape from uncongenial managers and colleagues
- A desire for a change of career
Retirement
One of benefits of our employees is preparation for retirement through some kind of formal pre-retirement programme.
Moving from working life to retirement requires a big adjustment, and can be achieved more successfully with careful planning, in term of coping with a changed financial situations as well as increased leisure time. Financial advice on pensions is a complex.
It is sufficient to note that this another area that can be affected by changing legislation.
Our Employers can further consider programmes for keeping in touch with people who have retired from employment with them. It can be a low-cost benefit to arrange occasional social gatherings for past and present employees and to send the organisation´s newsletter to pas employees who witness this evidence of their employer´s concern for employee welfare may well repay these cost many time over. We have seen that the relationships between Our employer and employee consists of rights and obligations on both sides, and that these are determined by law and various other agreements.
Labour Turnover
There are some other factors that have an impact on the turnover rate. Some of these might be reflected in long-term trend and others may cause occasional fluctuations. One such factor is the age of employees.
Retirement may account for a certain percentage of leavers on an ongoing basis, but it also sometimes happens that our organisations has a large number of people due to retire at the same time, which will temporarily increase the turnover rate.
This continues to be a consideration even if one pays due attention to the changing regulations with regard to the normal retirement age, diversity and equality. Factors such as this need to be taken into consideration in forecasting the supply of human resources and when adjusting the estimates to reflect the effects of labour turnover. To achieve successful strategic planning, our BGC Code is setting up so that it can provide this information. In addition to información about numbers, the análisis of on needs aspects of the workforce can highlight a range of problems or issues that deserve our consideration.
Some of the analyses that could be obtained pertaining to both leavers and retained workers are:
- The male/female distribution of personnel across the whole workforce or in each category of employee
- The distribution across the workforce or by employee category of member of specified ethnic minority group
- Age profiles
- Length of service for each of the above
These analyses of human capital could help our managers to see where new approaches and policies are needed to help the organisation reach its goals.
A further factor that may have an impact on future internal supply is the fact that people often have skills that their employer may not have required them to use in their current post. These could include facility in foreign languages, computer knowledge, training skills and interpersonal skills. In order to have a full picture of skills available from the current workforce the organization needs to develop a skills inventory, with each individual´s competencies recorded on their personal record,which will form part of the our operations. The skills that are available but not being used in addition to those that are being used.
All the factors that affect the labour forcé are important to employers. Similar to the need for environmental scanning that was described regarding the formulation of corporate or business strategy, up-top date information is the key to effective human resources planning.