Date of Conferral
2021
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Laura A. Thompson
Abstract
AbstractVoluntary employee turnover costs businesses significant resources in training and recruitment. An employee’s voluntary turnover could cost small business owners $3,000 to $10,000 in training and recruitment costs and reduce company performance, profitability, and competitive advantage. Grounded in Vroom’s expectancy theory of motivation, the purpose of this multiple case study was to explore strategies that owners of small businesses in the eastern United States use to mitigate voluntary employee turnover. Data were collected from semistructured telephone interviews with five small business owners with at least three years of experience mitigating voluntary employee turnover. Data were analyzed using Yin’s five-step approach. Three themes emerged: (a) training and development, (b) open communication, and (c) compensation and rewards. A key recommendation is for owners of small businesses to implement monetary and nonmonetary compensation programs to attract and retain employees. Positive social change implications include contributing to local communities’ financial stability by providing jobs, community development projects, and economic support for families and community dwellers.
Recommended Citation
Gant, Eric Regneco, "Strategies for Mitigating Voluntary Employee Turnover in Small Businesses" (2021). Walden Dissertations and Doctoral Studies. 11073.
https://scholarworks.waldenu.edu/dissertations/11073
