1

1108 Words5 Pages
Retention It appears that career patterns are changing these days. Traditionally, the workers would be promoted as hierarchical progression, but recently their progression is tied to their skills and outstanding performance. Under the uncertainty and unpredictable future, most companies concern about cost-effective management and therefore try to preserve their flexibility. This leads to the changing psychological contract in the workplace. That is, the progression offered by the companies and depending on loyalty or acceptable performance is being supplanted by the new psychological contract. The company would offer employability rather than long-term employment, and in the employability the companies integrate the continuous learning opportunities to their remuneration packages, which the staff approve of their preference, as well as they will produce high productivity as commitment to the organization in return (Torrington, et al., 2005). แก้ใหม่ Although long-term employment as an offer of employees’ loyalty to the business is outdated, a high turnover rate of talented employees is commonly known to be difficult to sustain success in the business since the key person could boost the firm’s performance, especially high-tech firms. Moreover, the turnover expenditure may outweigh the cost of reward strategies and HR people must spend their time to conduct the selection process again. Interestingly, sometimes the companies encounter difficulty in filling vacant positions with equally talented new employees. Generally, if the companies reach more than 10 percent of a turnover rate, they should recognize it as a warning signal which probably causes the damage to the company (Torrington, et al., 2005). This is worth delving into t... ... middle of paper ... ...nclude, this paper has given an account of and the reasons why Microsoft has been considered as a successful company in terms of its human resource practices. The evidence from this study, presenting its recruitment process, training and development, retention and work-life balance strategies, obviously shows how the refined HR approach can bring exceptional quality of lives to its employees. This seems that Microsoft human resource practices are worth thorough examination by other companies in order to apply and adopt for their employees perceived as the key asset of the companies. Before employing those practices, it is necessary for other companies to take their types of business, their business strategies and their employees into consideration. More importantly, sincere and proper care given by the company is the utmost importance for the employees’ aspects.

More about 1

Open Document