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Managing For Employee Retention
Managing For Employee Retention
Theories on employee retention
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The success of an organisation depends crucially on its human resources. A company must have effective employees in order to stay financially solvent and competitive. In order to maintain this valuable commodity, organizations must be aware of employee satisfaction and retention. People possess various degrees of knowledge, skills and abilities (KSAs) when they are hired. Even when utmost care is exercised in selecting the most qualified people, companies still need to devote considerable time for education, training and socialisation of employees. This is vital to encourage them to internalise the company norms, values, and beliefs which will lead them to act consistently on the company’s behalf.
Society has changed drastically over the last few years. In the 1970s, career planning efforts were focused on young employees who seemed to have potential. It was the way companies planned for the future and nurtured young workers for senior management positions (Moses, 1999). This career path model fit well with the traditional commitment employees would offer to companies. Chris Argyris referred to this commitment as a psychological contract whereby employers were almost guaranteed long term loyalty and commitment in return for giving employees job security, opportunities for promotion, and training (Feldman, 2000). In the 1980s, this idea diminished when people realised that they were reaching plateaus in their careers and the opportunities for advancement did not exist (Moses, 1999). The concept of career planning became less realistic for both individuals and organisations because neither could count on long term commitment (Feldman, 2000).
Another key factor in the success of an enterprise is funding. Any employee development ...
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...ctors of organizational citizenship behaviors’. Personnel Psychology, 48, 775–802.
Pearce, J.A. and Robinson, R.B. 2005. Strategic Management. Boston, Mass.:McGaw-Hill.
Podsakoff, P. M., MacKenzie, S. B., Paine, J. B. and Bachrach, D. G. (2000). ‘Organizational citizenship behaviors: a critical review of the theoretical and empirical literature and suggestions for future research’. Journal of Management, 26, 513–63.
Ramlall, S. (2004). A review of employee motivation theories and their implications for employee retention within organizations. The Journal of American Academy of Business, Cambridge, 5 (1/2), 52-63.
Rousseau, D. M. (2004). ‘Psychological contracts in the workplace: understanding the ties that motivate’.Academy of Management Executive, 18, 120–7.
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Organizational citizenship behavior (OCB) has undergone many complex definitional revisions, since the term was coined in the late 1980s, but the construct remains the same at its core.
Steers, T. M., Mowday, R. T., & Shapiro, D. L. (2004). Introduction to Special Topic Forum: The Future of Work Motivation Theory. The Academy of Management Review, 29 (3), 379-387.
Enterprises need to clearly understand each employee needs and desire for development, and try to satisfy them. Meanwhile, employee dedicated their time and effort to the development of enterprises. Although the development of enterprise and employee is not specified by a contract, both of them work hard t...
These examples of career changes reflect a common trend—increased job mobility. The linear career path that once kept people working in the same job, often for the same company, is not the standard career route for today's workers. Today, many workers are pursuing varied career paths that reflect sequential career changes. This set of ongoing changes in career plans, direction, and employers portrays the lifetime progression of work as a composite of experiences. This Digest explores how changing technologies and global competitiveness have led to redefinition of interests, abilities, and work options that influence career development.
Organizations’ other resources can be hired, retained and discarded at any time but human resources needs special treatment. It needs to be carefully hired, deserve an extra effort to retain it and requires training & development to upgrade and improve its capabilities. Other resources depreciate with the passage of time but when the human resource gains more and more experience, it becomes more beneficial for the organizations. These characteristics have brought human resources to be the central element for the success of an organization. (Mohammed, Bhatti, Jariko, and Zehri, 2013, pg. 129, para. 2)
Omar, M. W., & Jusoff, K. &. (2010). Employee Motivation and Its Impact on Employee Loyalty. World Applied Sciences Journal 8, 8(7), 871-873.
Steers, Richard M., Richard T. Mowday, and Debra L. Shapiro. "Introduction to Special Topic Forum: The Future of Work Motivation Theory." The Academy of Management Review 29.3 (2004): 379. Print.
Human resource management plays an important role in the organisation. It not only helps the employer evaluate employee accurately but also contribute to the firm’s development. Hence, the appearance of psychological contract is one of the most effective tools to help the organisation improve their HRM issues. However, it also has some challenges for the manager to overcome. Therefore, the main aim of this essay is to analyse the importance of the psychological contract in many aspects and support more evidences and experiences to support employers’ view in managing people.
Research has shown that motivation in an employee is an important factor which determines his performance. Motivation is the “driving force within individuals” (Mullins, 2007, p. 285). It is the concerned with finding out the reasons which shape and direct the behaviour of the individuals. The people act to achieve something so that they can satisfy some needs (Gitman and Daniel, 2008). It is important for the manager to understand this motivation of individual employees in order to inspire them and devise an appropriate set of incentives and rewards which would satisfy the needs that they have individually (Kerr, 2003). Once these needs are expected to be met in return for some specific behaviour or action, they would work more diligently to have that behaviour in them and to achieve that objective (Meyer and Hersovitch, 2001). Since it would lead to early and fuller achievement of the company objectives as the individual would work more diligently, it would lead to better organizational performance (Wiley, 1997).
It is a well-established reality that organisations in the world today can no longer survive without focusing on their employees. If they have to be at the competitive edge, they have to invest in human resources, and placing their employees on top priority. This notion has led to the strategies that, most organisations are pursuing through employee management. To achieve the optimum performance of employees, organisations must motivate their employees, and engage them in activities that will benefit and help employees in achieving their predetermined goals and objectives. In order to achieve this, it is imperative for managers to set in motion work conditions that will help employees to achieve satisfaction of their job, low turnover and absenteeism rate and promote the environment that promotes the organizational commitments and organizational citizenship behavior.
The concept of Psychological Contract was given by Denise Rousseau. It represents mutual perception and beliefs between employer and employee. Every human being is a exclusive individual. This is an irrefutable fact, thus organizations have to look at the various predecessor of the psychological contracts between employees and the organization. Employees have diverse perceptions and thinking over the concept of psychological contracts. A psychological contract occurs at individual level i.e a person’s beliefs with regard to the expressions of his/her exchange relationship with another. The individual beliefs contain the contract involve sets of mutual obligations, not expectations only, to which both the individual and other party are supposed
Human resource is the most valuable and unique asset of an organization. The successful management of an organization’s human resource is an exciting, dynamic and challenging task , especially at a time when the world has become a global village and economies are in a state of flux. The lack of talented resource and the growing expectation of the modern day employee has further increased the difficulty of the human resource function.
In this course, I learned a great deal about Human Resources Development (HRD). I now have a better understanding on the history of human resources development, the different theories and philosophies of HRD, and skills pertaining to analyzing an organization’s human assets and the processes related to human capital development. Human assets are the skills and abilities that employees and other members of an organization add to the organization as a whole. Some human assets are exceptionally valuable. For instance, employees who receive additional education and training in order to improve their repertoire of skills, which can then be contributed to the organization, are strong human assets. Such assets greatly enhance the potential for the organization to function on a proficient level and to advance economically. Human capital development, then, is the progress of employees’ skills and assets that can be contributed to the organization. In order to better develop an organization’s human capital or, in other words, the value of the employees an organization has, it is important for organizations to offer training, specializations, and advancement opportunities to employees. The more valuable the body of employees within an organization, the more profitable an organization can hope to be. It is the responsibility of the human resources department to maximize the potential for human assets and human capital development.
Motivation is the force that transforms and uplifts people to be productive and perform in their jobs. Maximizing employee’s motivation is a necessary and vital to successfully accomplish the organization’s targets and objectives. However, this is a considerable challenge to any organizations managers, due to the complexity of motivation and the fact that, there is no ready made solution or an answer to what motivates people to work well (Mullins,2002).
Organizations strive for creative ways to enhance employee motivation and resolve conflicts with the desire to have employees perform better within the workplace. To motivate one has to be motivated. Motivation within the workplace has to be constant and requiring a goal. Motivation, if not repeated will not last. Therefore, learning to determine how different organizations apply motivation theories to motivate employees, analyzing conflict management strategies and what approaches work best in different organizations will influence the success of an organization.