Date of Conferral
12-18-2024
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Jorge Gaytan
Abstract
Failure to retain employees negatively affects organizational financial sustainability. Small business leaders become concerned when their organizations fail to retain employees, resulting in increased costs and decreased competitiveness, organizational knowledge, team dynamics, and valuable human resources. Grounded in transformational leadership theory, the purpose of this qualitative pragmatic inquiry study was to identify and explore leadership strategies some small business leaders use to retain employees to reduce turnover costs. The participants were six small business leaders in the Washington, DC, metropolitan area with successful strategies used to retain employees to reduce turnover costs. Data were collected from semistructured interviews and publicly available company documents, such as organizational websites, brochures, Google and Yelp reviews, job announcements, social media, and YouTube channels. Thematic analysis of the data resulted in three themes: leadership behaviors increased employee retention, open and effective communication increased employee retention, and employee development increased employee retention. A key recommendation is for small business leaders to establish effective communication by creating a workplace where employees express themselves freely and openly exchange information. The implications for positive social change include the potential to retain valued employees to support the workforce, alleviating poverty and contributing to the progress, prosperity, and well-being of the local communities.
Recommended Citation
Gilchrist-Saunders, Karla, "Strategies Small Business Leaders Use to Retain Employees to Reduce Turnover Costs" (2024). Walden Dissertations and Doctoral Studies. 17110.
https://scholarworks.waldenu.edu/dissertations/17110
