Employee Retention Essay

860 words - 4 pages

The business environment nowadays is so competitive that companies should do their best to find appropriate employees and to create a good working team and environment, so that they can stay in business and make high profits. Managers spend a lot of time and money in finding and attracting responsible, innovative, knowledgeable, and motivated to work employees. Moreover, when the company succeeds in finding such a person, the issue of how to increase his satisfaction and performance occurs. Reduction of the employee turnover is a main goal for the companies’ senior management. In order to achieve this goal, managers use various tools. The most common of all is giving the employees praise and ...view middle of the document...

Performance is believed to be a function of three factors: ability, motivation and opportunity to perform. Managers should not only make sure that rewards are based on performance, but also that employees receive feedback and are given interesting and challenging tasks. The last step for managers is to provide an opportunity to perform –a suitable working environment, free of obstacles that constrain the employees. In case managers go through all three steps, it is very likely that employees’ performance will significantly increase, according to the formula. Recognition is essential for preventing employees feel disengaged and unappreciated and would prevent reduction their performance.

The case suggests that sometimes a sincere pat on the back is much more meaningful for a person than giving insincere gifts. People want their work to be valued and are very pleased when senior management closely observes their behavior on the working place, and knows whether the employee is contributing to the company. Gifts, given simply of obligation, won’t accomplish any results. Another issue which must be taken into consideration by managers is that a pat on the back is not enough as well. There are downsides to giving too much verbal praise, as the case explored “after all, money talks”. This leads to the conclusion that both a sincere “thank you” and an appropriate payment are important and needed after the job is done well.

Even though various researches are made on how to motivate workers, still managers find it difficult to discover the right formula. Moreover, as Curt Coffman states:

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