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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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A review of employee motivation theories explains the retention and behavior of an employee within the organization. Throughout this essay, I will provide you examples of SAS inc, and how using employee motivation theories can help you succeed. Why is it necessary to keep employees? Fitz-enz (1997) stated that the average company loses approximately $1 million with every 10 managerial and professional employees who leave the organization.(Sunil Ramlall, Book)
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)
There are many factors that can affect the overall success of a business. Yet, few are as important to understand and master as employee motivation. This is because a highly motivated workforce translates into increased productivity which helps ensure that the business reach its goals. Business owners who are smart make sure that a well thought out and tested motivation strategy is firmly embedded into the business model. Further, they are sure to consider how major decisions could affect their staff. In order to gain a better understanding of what drives the motivation of an employee, we must examine where motivation comes from both from a physical and psychological perspective, review the various theories of motivation, the importance
Employee motivation is optimal when the external factors are tailored to the individuals’ needs. According to Maslow’s (1954) hierarchy of needs, people’s needs are divided into physiological, safety, relationship, esteem and self-ac...
The creation of a strong working psychological contract is dependant on the commitment and effectiveness of the employee within in the organisation. The extent to which their own expectations of what the organization will provide for them and what they owe the organisation in return must match the organisation’s expectations of what it will give and get in return (Schein, 1965).
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...
Omar, M. W., & Jusoff, K. &. (2010). Employee Motivation and Its Impact on Employee Loyalty. World Applied Sciences Journal 8, 8(7), 871-873.
Organization citizenship behavior has been emerging as an interesting topic for any organization these days. Katz and Kahn (1996) were the first people to identify this kind of autonomous behavior in workplace. The term Organizational Citizenship Behavior (OCB’s) was first coined by Dennis Organ and his colleagues (Cf. Bateman & Organ, 1983; Smith Organ, & Near, 1983). Organ (1988: 4) defined Organizational citizenship behaviors as “individual behavior that is discretionary, not directly or explicitly recognized by the formal reward system, and that in the aggregate promotes the effective functioning of the organization. By discretionary, we mean that the behavior is not an enforceable requirement of the role or the job description, that is, the clearly specifiable terms of the person’s employment contract with the organization; the behavior is rather a matter of personal choice, such that its omission is not generally understood as punishable.” Organizational citizenship behavior occurs when the individuals in organization implicitly go beyond the formal boundary of work required to do by him/her. Organization citizenship behavior can also be said to be the choice of individual to work beyond any limitation or expectations of their employers for the overall betterment of the organization. This is completely voluntary action and the employee’s work beyond the expectation of their organization. Organization citizenship behavior is gaining much attention in today’s organizations as it has several positive implications on the organizations. Organization citizenship behavior makes the employee more committed to the organization willingly and helps in promoting overall health of the organization. The employee...
Motivation - psychological processes that arouse and direct goal – directed behavior. Researchers have proposed two general categories of motivation theories to explain psychological processes underlying employee motivation : Content theories and Process theories. Conten...
Training and development are important factors to the success of any organization. Each employee is a valuable asset that can either add to the success a company or contribute to its failure. Training supports and makes possible the development of new skills and knowledge. Offering training for employees at various levels within an organization assist employees develop the necessary skills and proficiency to be successful in their careers as well as prepare for new responsibilities.
In the past, careers have taken various forms. However, the present generation is witnessing a sea change in the shape of career. From the life long career as an archetypal model, quite often fulfilled, we are moving to a world of work where stable employment with the same organization is not only the exception, but also not even the ideal type aspired to. Both people and organization’s perspectives on career planning and management have changed.
People careers are developed in organisations; we can sense the characteristics of the traditional career in the typical traditional deal between organisation and employee, when employees offer loyalty, conformity and commitment while employers offer security of employment, career prospects, training and development and care in trouble, (Baruch, 2001, p. 544). Long term employment with hierarchy career development is mostly what characterises traditional careers. Walton (1999, p. 214), described the traditional career development in an organisation by saying; “Traditionally, many organisations had well established career progression routes for those see...
Career management can be described as the conscious planning of an individual’s activities and engagements in the jobs they may take in the course of his or her life for better fulfillment, growth, and financial stability (Stroud, 2017). Career management can also be thought of as more or less like organizational management, as it is essentially an assortment of individual who are working toward short-term and long-term goals. In like manner, Noe (2013), suggests that career paths can help companies offer various career options to their employees to help them select the best job choices that fit their lifestyles.
Education: broader content of employee development over the working environment. This could be related business and managerial programmes such as Business Administration course or MBA. Such education is specified by ...