...The Importance of Employee Retention The sustainability and success of any organization depends upon the retention of key employees and according to Panoch, (2001) valuable employees are increasingly becoming more difficult to find. In today's highly competitive environment employee retention should be top priority for organizations especially since many consider human talent to be the ‘greatest assets' to a company. Cutler (2001) stated that one of the most important demands on management today in any organization is keeping the most vital and dynamic human resources motivated and dedicated. Managing and retaining valuable talent requires a balance between the employee aspirations and the strategic and financial needs of the business. Implementing strategies that encourage employees to remain in an organization can be termed as employee retention. Zineldin, (2000) has defined retention as “an obligation to continue to do business or exchange with a particular company on an ongoing basis”. * Hiring is not an easy process. According to the University of California, Riverside, in order to strategically increase efficiency and effectiveness in hiring and retention and to maintain consistency and compliance in the recruitment and selection process there are a number of tedious steps that must be followed. These processes can be very time consuming and costly for an organization. Step 1: Identify Vacancy and Evaluate Need Step 2: Develop Position Description Step 3:...
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...are facing increased challenges in retaining productive, creative, reliable employees. Human resource planning plays a pivotal role in helping reduce employee turnover and retention. To motivate, retain and keep employees focused on the organization’s purpose, implementing effective strategies and policies will help tackle the challenges of employee retention. Managing Employee Retention Human resource planning plays a pivotal role in the effective management of employees to improve employee retention. Poor planning can result in discouraged employees and high turnover rates. The ability of managers and organizations to perform effectively becomes stagnant, creating a negative impact on operations. Employee retention can be difficult to achieve, and managers are more likely to have problems managing employees effectively if not planned well (Arnold, 2005). Developing effective employee retention strategies can have a positive impact on an organization’s ability to retain employees. Implementing effective human resource management strategies and policies can establish and maintain an appropriate culture in an organization. Applying the proper strategies and policies for human resource planning in organizational culture, employee selection and placement, compensation, training, development, and appraisal, it will enable operating managers to improve the likelihood of successfully retaining employees. Human Resource Planning Human resource...
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...CASE STUDY OF VODAFONE 1 Role of Training and Development in Employee Retention Case Study of Vodafone 2 ABSTRACT Employees are the strategic asset of any organization; this talent has to be managed and preserved. This project presents a descriptive study, which mainly investigates on the functioning and role of training and development in employee retention, a case study of VODAFONE, a leading telecommunication company of UK, has been presented in this research. This study also investigate on the significance of training and development in managing of employees, different types of training methods in use, and its effects on retention of employees and about benefits which company gains as well. The study mainly helps in finding about the benefits of training and development in retention of employees as well as about the retention of companies information as well. This study emphasizes the role of training and development plays a very crucial role in retaining the capable employees, which are the precious assets treasured by all organizations. Keywords: retention, T&D (Training and Development), Vodafone Contents 3 Abstract ......................................................................................................................................3 Acknowledgements .....................................................................................................................8 CHAPTER 1: INTRODUCTION .........................
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...Problems and Best Practices in Retention Strayer University HRM534, Employment and Labor Relations 1/23/2011 What three problems might an organization have with the issue of employee retention? Explain why they could be problems. When an organization loses employees, they also lose skills, experience and corporate memory. The magnitude and nature of these losses can be critical problems for and organization. It is no doubt that over the years, the employment relationship has undergone a number of changes that impact attraction, motivation and retention of talented employees. This has brought to the forefront the need to understand the individual/organizational relationship, namely the psychological contract. This is the employee’s interpretations and evaluation of their deal with the organization (Dietz, 2009). Past research has shown that in order for retention management to be effective, the employee’s and the organization’s expectation must be in line. Also job satisfaction, loyalty, and commitment can cause problems in relation to employee retention. Employees are no longer looking to work for one place for the rest of their life and make an average wage. They are always looking for ways to advance in their careers. If these needs are not met by the organizations, this will lead to turnover. Individual employee performance can also lead to problems in retention. Motivation is the key. When employees have insufficient support to get tasks accomplished...
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...HRM Dynamics and its interventions with Employee Engagement Dr. Taruna Mohit Kumar ABSTRACT With the ever increasing pace of globalization, the face of business has changed keeping in mind the altering psychology of the human mindset. The developing economy in India is talent driven and the need to attract and retain the same is equally important and crucial for any organization trying to make a mark in this global set up. The evolution of the organization follows a very similar pattern to the evolution of the humankind and the only organizationwhich can upkeep and survive the competition intrigues will be able to survive. Of all the resources, Human resource would play a pivotal role providing for a perfect Launchpad and a base upon which...
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...Employee Training and Career Development Paper Gerald Bryant HRM/300 May 30, 2016 Barbarann Ott Employee Training and Career Development Paper Employment development is very important the success of an organization, and the career development of the employee. Employees look to learn and develop new skills. Organizations look to improve efficiency and operations. Together the two can increase organizational development, employee development, and employee retention. A good employee development program consists of planning and the use of methods. This paper will discuss the role of employee development, methods of development, the relationship between organizational development with employee development, the impact of human resources management in development, and my personal career path. The role of employee development can be crucial to the success of a business. Employee development programs can contribute to performance of an organization. A highly functional and developed employee can accomplish more by providing more experience and knowledge (University of Minnesota, 2010). Employee development has a direct impact on employee retention. Companies that train their employees and develop their skills show more faith in their process, and the people working for them. Another advantage to employee development is succession. Training employees and developing their skills can increase their effectiveness and promotable ability. Succession planning can prove easier...
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...Literature Review (8-10 pages 12 sources) The Importance of Retention Systems in Human Resource Management Abstract Retention systems is one of the most important components of a staffing system within an organization. Human Resources is responsible for obtaining human capital in order for an organization to obtain and maintain productivity and profits. Human capital is a major expense and investment within organizations. If the organization is unable to retain its workers, the organization nets substantial losses on each employee it is not able to retain. Losses presents themselves not only in production costs, but training and development dollars invested in the employees as well, in addition to recruitment and hiring costs. My literature review will introduce and evaluate common types of retention systems used by staffing systems and their effectiveness in the workplace. Author of “An Analysis of Human Resource Information Systems impact on Employees”, Kelly O. Weeks describes the overall basic benefits of Human Resource Information Systems. She states in her article “systems give the organization the ability to consistently develop and manage employees based on the value of an individual's contribution”. The article also describes the various ways in which HR systems can improve job productivity by cutting repetitive work, and increasing the speed in which manual processes are managed. This article provides a basic general educational foundation and working knowledge...
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...(Dec 2011) ISSN: 0974- 6846 Employee retention by motivation K. Sandhya1 and D. Pradeep Kumar2 2 Department of Humanities and Social Sciences , JNTUH CEH, Kukatpally, Hyderabad-500085, A.P, India Department of Management Science, Madanapalle Institute of Science and Technology, Madanapalle, A.P-517325, India sandhyadean@yahoo.com 1 Abstract Employee motivation is one of the important factors that can help the employer to improve employee and organizational performance. Different theories of motivation are discussed. The paper concludes that employee retention can be practiced better by motivating the employees in the following aspects: Open communication, Employee reward program, Career development program, Performance based bonus, Recreation facilities, Gifts at some occasions. Keywords: Employee retention, Organizations, Strategies, Career, Performance based. Introduction Management Update (June, 1988) nine of ten managers An Employee Retention Program (ERP) is said to be think people stay or go because of money. But, Kaye and effective when a systematic effort is made to create and Evans (2000) conclude that money and perks matter, but foster an environment that encourages and supports employees are interested in challenging and meaningful employees to remain employed by maintaining strategies work, good bosses, and opportunities for learning and and practices in place that addresses their diverse needs. development. Employee retention (ER) is a process in which the...
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...“Academic Staff Retention as a Human Resource Factor: University Perspective” by Salesho, Jacob, and Idah Naile Introduction Universities and other learning institutions have been facing shortages of lecturers due to poor employee retention. The retention of employees in a business organisation may be contributed by several factors including motivation and god packages. In “Academic Staff Retention as a Human Resource Factor: University Perspective” by Salesho, Jacob, and Idah Naile explores this subject. In this article, the authors investigate the causes of poor academic staff retention in universities and the ways in which the issue can me minimized. In order to establish the factors affecting retention of employees, the authors conducted a survey involving 80 lecturers in a controlled selection mode. Summary of Purpose, Rationale, and Related Literature In the article under consideration, factors affecting employees in higher education institutions were explored. Through a survey involving 80 lecturers, the researchers were able to investigate the job satisfaction, career growth and salary progress as the factors affecting teacher retention in the selected universities. Retention of academic staff has been a major issue affecting the quality of education in these learning institutions. There has been a great turnover rate of lecturers that has posed a major challenge. This is because it affects the quality and consistency as well as the stability of learning institutions...
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...Leadership, Capella University MHA -5012 Organizational Leadership & Governance FALL 2013 TABLE OF CONTENTS INTRODUCTION: (Define Human Resource Management , Talent Development Employee Performance Defined Retention in an Employee Centered Organization)_ PART I “Knowledge & and Best Practices for Human Resource Management” 1.1: Evidence-Based Practices for Human Resource Management 1.2 Best Practices & Expectations for Accountability in Human Resource Management, and Talent Development in Health Care Organizations 1.3 Professionalism, Skills Sets and Abilities: Their Usage & Impact in effective talent development and employee retention 1.4 Finance & Fiscal Awareness: How Organizational Leaders use this knowledge when making Human Resource Management Decisions 1.5 Legal and Regulatory Requirements: Their Impact in Human Resource Management Decision Making in Health Care Organizations 1.6 Indirect Influence: How Organizational Leaders use this in Human Resource Management in Employee-Centered Organization PART II Recommendations: Talent Recruitment & Retention in an Employee-Centered Organization 2.1 Summary of Conditions needed for an employee-centered organization 2.2 Implementation Plan to execute conditions identified for an effective employee-centered organization Resources: INTRODUCTION INTRODUCTION: PART I “Knowledge & and Best Practices for Human Resource Management” 1.1: Evidence-Based...
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...Process Management (Evaluate) Please use the following 6 criteria to evaluate the attached paper on Human Resource and hiring process at HFHS. Also check for grammar and punctuation including structure of the paper. Corrected grammar and punctuation in original document I attached. I am using that to enter the evaluation information you requested. 1) Provide background information on the organization, why the process was selected for study, and the approach used to complete this assignment Covered 2) Describe, Document and Flowchart the existing process. You may use a software tool for flowcharting (see information on flowcharting in the Course Content area). The paper describes the recruitment process but you need to detail the flowchart. If you look up flowcharts, you will find a flow chart more like this one that you can find at the following web location: http://www.kusd.edu/departments/human_resources/appl_process/applicationprocess.html The following is an example of a detail of the Application Process in HR. 3) Identify performance measures that you would use to determine the baseline performance for the current process in order to assess any improvements. Covered very well. 4) Research the Web and other sources for benchmark information (best practices) on the selected process and/or similar processes. Summarize your research findings. Identify the sources and best practices found that could be transferred to your redesigned process in Item...
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...) 21 years and above ( ) Section B: Factors Influencing Retention 3. Rate the extent to which each of the statements in the matrix represented below Influences employee retention in your organization. Use a scale of 5-1 where 1= Strongly Disagree, 2= Disagree, 3= Neutral, 4= Agree and 5= Strongly Agree. (Please tick one per statement). Employee Empowerment | | | | | | i. Adequate working equipment | 5 | 4 | 3 | 2 | 1 | ii. Readily available loan facilities | | | | | | iii. Opportunities for Professional Growth | | | | | | iv. Well defined goals and objectives | | | | | | v. Well defined Job Descriptions | | | | | | vi. Guaranteed Job Security | | | | | | vii. Stress Management Programs | | | | | | 4. Rate the extent to which each of the statements in the matrix represented below influences employee retention in your organization. Use a scale of 5-1 where 1= Strongly Disagree, 2= Disagree, 3= Neutral, 4= Agree and 5= Strongly Agree. (Please tick one per statement). Employee Training and career development (capacity building) | 5 | 4 | 3 | 2 | 1 | i. Employees enjoy training and career development programs. | | | | | | ii. Employee training and career development benefits are in place. | | | | | | iii. Employees are satisfied with the training and career development offered to them by the organization. | | | | | | iv. Employee training and career development programs offered are linked to each employee’s career needs...
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...Employee Socialisation Introduction Organisations are facing a major challenge when they consider the increasing difficulty of finding skilled people. The South African labour market has undergone a transformation since 1994, with an emphasis being placed on strategies that eliminate the labour inequalities of the past and improve general working conditions for all South Africans. HR executives state the single greatest challenge they have in managing the workforce is their organisation's inability to recruit and retain good employees and managers. The South African labour market is characterised by an oversupply of unskilled workers and a shortage of skilled ones. High population growth constantly exceeds the growth in employment demands. This is compounded by the consistent loss of jobs in the formal sector, as the country’s economy moves away from labour-intensive to capital-intensive operations. The following factors contribute heavily on obtaining skilled management in South Africa, ♦ Historical reasons – South Africa’s apartheid-based economy contributed to shortages of skills as a whole host of developmental activities were restricted and access to highly specialised skills were reserved for a few; ♦ Education and Training & the Labour Market - Poor articulation between the skills acquisition in institutions of higher learning and the HRD needs of the public service ♦ Globalisation – South Africa is negatively affected by skills flight...
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...Motivating Employees ADM 521 Applied Administration Concepts Dr. Michael Provitera 2/26/2014 Chauvaunia Goodman 1. Introduction Employee motivation can be regarded as one of the key practices for an organization to build long-term sustainability in any respective business industry. In relation to the recent phenomenon, the performance of employees significantly depends upon a number of factors including employee motivation, employee satisfaction, performance appraisal, compensation, training and development (T&D) along with adequate security of job role and organizational structure among other factors (Muogbo, 2013). However, the specific area of this study is focused on employee motivation, which tends to highly influence employee performance within an organization. In relation to the rapidly growing global business environment, marketers have been widely witnessed to implement a number of strategic measures in order to keep the workforce more optimistic with regard to their specific roles and responsibilities within the organization. In this regard, Organizational Behavior (OB) has long been observed to play an essential role for the entrepreneurs to develop strong workforce in accordance with the vision and postulated business goals (Tishman et al., 2012). Emphasising the notion of OB to play as an essential role in employee motivation, the primary objective of this report is to critically analyse the practice of OB by United Healthcare (UHC) while empowering...
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...Table of Content 1.0 INTRODUCTION 2 2.0 LITERATURE REVIEW 2.1 Advantages will benefit the company when the retention rate of the company is high 4 2.2 The activities that the company provides to their employees --------------5 2.3 The problems or barriers that company faced to ensure the higher retention rate---------------------------------------------------------------------------------------------8 2.4 The factors that will affect employees to retain--------------------------------9 2.5Relationships between retention rate and performance of the company-10 3.0 OBJECTIVE OF THE STUDY 13 4.0 METHODOLOGY 15 5.0 FINDINGS 17 6.0 DISCUSSION 28 7.0 LIMITATION 33 8.0 RECOMMENDATION 35 9.0 CONCLUSION 37 10.0 REFERENCES 38 11.0 APPENDIX 39 1. INTRODUCTION Human resources are comprised of individuals in the workforce of an organization. In the article by Rishma Vedd, and Reza Kouhy. (2001), Management Accounting & Strategic Human Resource Management, Wright & McMahan (1992) had defined human resources as the pool of employees under the firm’s control in a direct employment relationship. In a more simple word, human resources also known as labors, which is one of the four factors of production. An organization’s human resources should be managed to maximize return on investment in the organization’s human capital and minimize financial risk by aligning skilled and qualified individuals to the organization’s ongoing and future business plans. ...
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