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Retaining Employees

时间:2015-05-28 09:59来源:www.ukthesis.org 作者:英国论文网 点击联系客服: 客服:Damien
Retaining Employees

本文旨在探讨员工保留方面的趋势,探讨与员工保留相关的各个方面。3个R的理论观点,包括马斯洛的需求层次理论考试、赫茨伯格的双因素模型和麦克格雷戈的X、Y理论。文章探讨员工离职对组织的影响。该研究是一项定性研究,作者将不同的观点和理论进行了比较。

Employee retention: Do Organisations need to care about retaining their employees?

ABSTRACT:

An organisation is a social arrangement where activities including production, distribution, logistics, and other collective goals are carried on. These collective goals are the dimensions which help in the functioning of an organisation. However, for these collective goals to be carried on there needs to be of course capital, along with another key variable. This key variable refers to manpower or labour or employees. Hence for the working and existence of any organisation requires talented employees, and retaining these key employees is the most important and challenging task performed by any organisation.

With globalisation, there are many new players in the emerging world market, and keeping employees or rather retaining employees within the organisation is a herculean task. As Phillips & Connell (2003) noted during the last decade, employee retention has become a serious and perplexing problem for all types of organisations and managing retention and keeping the turnover rate below target and industry norms is one of the most challenging issues facing businesses.

This paper seeks to explore employee retention with regards to the trends, the theoretical perspectives, the three R's and then explores the various other aspects associated with employee retention. An examination of the theoretical perspectives including Maslow's hierarchy theory of needs, Herzberg's two factor model and McGregor's X & Y theory revels that employees leave organisations with regards to the self actualisation need, the dissatisfiers and attitudes of management. An examination of the three R's namely reward, respect and recognition indicates that employees do not expect pay alone, but also certain other non monetary benefits, which when given by the organisation, would help in retaining employees. Apart from the theoretical perspectives and the three R's, this paper also seeks to explore the impact of employee turnover on organisation, and in order to help curtail turnover what are organisations doing to minimise this scenario. The study is a qualitative study, where views from different authors and theories have been compared.

The research reveals certain important facts that is there is a school of thought were in the argument is that turnover affects the organisations, and yet there is another school of thought
which say that a considerable amount of employee turnover is beneficial for the organisation.

CHAPTER ONE:

INTRODUCTION:

1.0 INTRODUCTION:

As David A. Hume (1998) noted, preceding to the industrial revolution of the eighteenth century, the organisation of work, and accordingly of labour, were on a small scale. Such organisations were cottage industries employing widely dispersed workers. However, with the advent of the industrial revolution, the movement of people from rural settings to the urban settings was on the increase. Hume (1998) noted that, as a result organisations were faced with new business pressures from the new industrialised world such as increasing competition, trade restrictions, and new technologies and so on. Thorne et al (2007), argue that Talent, like innovation and creativity, is highly desired, yet rarely understood or effectively nurtured within organisations. Talent is an in-demand commodity these days for almost everyone. As organisations work to recruit new employees and retain existing ones they are discovering that there are no quick and easy answers for success. Many recruitment advertisements ask for talented people, yet if organisations are lucky enough to recruit a talented individual they often experience difficulty in engaging or retaining them.

The International Market place is highly competitive. Gatewood & Field (2001) are of the opinion that in today's competitive environment, most organisations seek to obtain and maintain high levels of success, which can be determined through various criteria's including profits, market share and so on. However, the one common theme is that the employees' performance plays an important role in developing a competitive advantage over rival firms noted Gatewood & Field (2001). Globalisation has opened the world market to a very large extent and there are many new emerging players in the field of business. Multinational companies or transnational companies produce and sell goods and services in an international basis, and this leads to further competition amongst firms or organizations. Raikes and Vernier (2004) are of the opinion that according to recent surveys, attracting and retaining key talent is considered as a key strategy to achieve financial success. The impact of turnover is widely considered to have direct and indirect costs on organisations, with the bill costing anywhere between 50 and 150% of an annual salary (Mercer 2004). With the increase in competition between organisations, labour turnover is also on the increase and keeping employees within the organisation is a herculean task. In slightly more than a decade (1988-2000), the eminent issue for companies was one of attracting and retaining people with the skills necessary to do the work. The situation became even more complex during 2001 as an economic downturn forced thousands companies to cut back or downsize their employee populations, noted (Reichheld, 2001). Further the author also noted that companies are now indicating that product quality is beginning to suffer; customer satisfaction is dropping and many organizations are beginning to experience a significant increase in turnover of key talent--especially amongst those individuals considered most ‘crucial' to the downsized organization.(责任编辑:BUG)


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