No. 12 (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
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innovative employee rewards to help boost employee’s morale, acknowledge employee’s needs and promote goal accomplishments. Employees who are acknowledged for their contributions and dedication at the workplace tend to have better attitudes towards their workplace. Hence, some the latest rewards that were offered were internet usage for personal/professional, implementing a controlled napping policy and creating a betting pool for sports lovers. Companies such as Google have a high retention due to employee
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Internal and External Equity Comparison HRM / 324 Recruitment, retention and reduction of staff turnover are some of the key things that many organizations focus on when they begin to put together the “fundamental glue” of the company, the Compensation Plan. Those things in mind, both the internal and external equity considerations, and how they effect an organization should not be dismissed. Compensation packages are arguably the most valuable piece of information to an organization
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Gap Analysis: Riordan Manufacturing Riordan Manufacturing is faced with some issues, challenges and opportunities to increase their sales and profitability, improve employee satisfaction, and improve their customer relationships in an effort to help them remain competitive in the marketplace. In this research an analysis will be conducted to evaluate the situations that face Riordan Manufacturing. This analysis will identify the issues and opportunities, explore the stakeholders’ perspectives
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Employee retention Employee retention refers to the ability of an organization to retain its employees. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organisation kept 80% of its employees in a given period). However, many consider employee retention as relating to the efforts by which employers attempt to retain employees in their workforce. In this sense, retention becomes the strategies rather than the outcome. In
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Running head: GAP ANALYSIS: RIORDAN MANUFACTURING Gap Analysis: Riordan Manufacturing University of Phoenix Gap Analysis Riordan Manufacturing is currently experiencing a decline in employee retention which could further translate into missing deadlines to complete projects, decreased quality of products and sales, and finally a decrease in customer satisfaction. To stop this chain of events, management needs to identify the key issues that the company is experiencing in each sector
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Recruitment & Retention Case Study 1. Explain the steps you would take to research exactly how your compensation and benefits package is impacting your recruiting and retention. I think that first and foremost it would be necessary to find out what the competition is paying and what type of benefits they are offering. “Employers must be aware of how their reward system compares with those of others competing for workers in the same geographic areas and in the same industry…” (Henderson)
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RUNNING HEAD: COMPENSATION AND BENEFITS Compensation and Benefits September 7, 2012 Compensation and Benefits Introduction This paper will discuss how to leverage labor relations for the improvement of the quality of health care provided by the corporation. There will be a strategy for compensation practices tailored to corporate needs. Guidelines will be provided for the management of benefits and variable pay specific to hospitals. Further guidelines will be made for the management of
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Career Development Plan Part VI—Compensation HRM/531 Human Capital Management December 20, 2010 University of Phoenix 1 Career Development IV: Compensation Compensation Plan In the challenging and unpredictable economic market, companies are trying to redefine sales strategies, incentives, and pay compensation. Labor commands a high level of overhead for a company; therefore, pay policies, benefits, and compensations are critically important to be evaluated closely because it impacts
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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
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