THE EFFECT OF LABOUR TURNOVER ON THE PERFORMANCE OF AN ORGANIZATION ( A CASE STUDY OF AKWA IBOM WATER CORPORATION)
Background of the Study
In all economic activities human effort is the key. It is the human knowledge transferred into activity that give utilizes or value to all commodities. And that means who cultivates and whether he uses a hoe or tractor. It is the same who saws, weeds, processes, store and sells. It is also man who extracts iron ore, processes it into steel.
It postulates that who invents, designs, makes and operates machines is man who creates, transmits and seeks knowledge etc. thus, every human endeavour here one earth has man’s finger print. Thus without human effort which is considered vital for production so many managerial effort would been proved abortive. This effort also is usually called labour.
Labour is the most important resources in organization. This is why labour is define as human effort both mental and physical assertion legitimately applied in production of goods and services so as to satisfy human needs for a reward known as wages and salaries.
In this sense, labour include all labour, semi skilled labour and unskilled which all gear towards the production of goods and services to earn a living through their wages and salaries.
Statement of the Problem
The problem of labour turnover attract a reasonable percentage of attention in an organization because labour represent the life wire of any organization. The rate at which employee have organization is alarming, the types and number of works who are terminated or resigning their various jobs show how effective and efficient is the management in its operation which also determined the level of stability, growth and development of the organization. Although, in some organizations, there, is extent to which mobility of workers is considered acceptable.