The high rate turnover can be a very expensive experience for any business. This is because the management of business has to allocate time and resources to recruit and train new employees often. These resources to recruit new employees could be used to expand the business instead. The biggest challenges business face today especially the retailer business is attracting and keeping the new graduates. Thus, the managers of these businesses must come up with ways that will attract the new graduates. One of the ways managers can attract new graduates is by training them on the job. New graduates have no experience of real world on how business works. They mostly have theoretical experience but not practical skills (Robbins et al., 2013). Thus, management of the retail business should find time to train them so that they don’t feel they are a stranger at their workplace. This will help them manage and cope with the challenges of everyday work schedules.
The new graduates leave college with an ambition of making easy money and climb the corporate ladder fast. They want to be managers in the first months of being employed. Therefore, the management of retailer shops should provide attractive, reasonable and adequate salaries packages. The salary should also have incentives and bonuses when an employee does exemplary work. This recognition will motivate them to dedicate their energy and time to their work. Additionally, the management during the recruitment should inform the new graduates on how they can earn themselves a promotion. Since the new graduates want to advance their career fast, and their current job offer them that opportunity to advance their career hence, they will not see the need to leave. Furthermore, the new graduates are still fresh in the job market hence their concentration and focus on the job is low. They also want to enjoy life. Therefore, the management of the retailer shop should find flexible schedules for the new graduates. The management could introduce ‘working in shift’. This whereby the new graduates report to work at the convenient time, and they get paid according to the hours they have worked. If the management was paying monthly regardless of the time (hours per day) the employee has worked, hence it is high to change the payment method to hourly. This will attract the graduates since they know every hour they have worked counts, and it will reflect on their payment (Robbins et al., 2013).
Robbins, S. P., and M. Coulter. Management. 12th ed. N.p., 2013. Print.