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:
“We’re...

Other Essays Like Employee Retention

Hr Process Essay

532 words - 3 pages and development needs. Employee Relations: Employee retention is a nuisance with organizations especially in industries that are hugely competitive in nature. Though there are myriad factors that motivate an individual to stick to or leave an organization, but certainly few are under our control. Employee relations include Labor Law and Relations, Working Environment, Employee heath and safety, Employee- Employee conflict management

Employee Training and Career Development Essay

973 words - 4 pages retention. A respectable worker development program entails of forecasting and the use of techniques. Employee Development The role of employee development can be vital to the accomplishment of a company. Employee development programs can add to implementation of a business. “A highly functional and developed employee can accomplish more by providing more experience and knowledge” (University of Minnesota, 2010). Employee development has a straight

Impact of Healthy Work Environment on Nurses

1813 words - 8 pages . Evidence suggests that fostering a positive and healthy work environment creates a better staff satisfaction, retention, improved patient outcomes, and better staff performance. This paper aims to identify how work environment impacts the retention of nurses. The shortage of nurses is nothing new. This is a problem that has plagued the United States healthcare system. Research supports that healthy work environments directly influence employee

Employee Empowerment Effects on a Company & Penetration Pricing

1064 words - 5 pages whether a company will be successful or not, highly motivated employees produce high outputs while low motivated workers drag company growth downwards. By improving job satisfaction, organizations are able to reduce employee turnover thus retaining desired workforce. Another issue addressed by employee empowerment is the delivery of services to customers. The retention of customers is dependent on quality of service offered which in turn

Training Affects Employee Performance

712 words - 3 pages |Dependent variable | |Retention rate |Dependent variable | HYPOTHESIS:- Training and Development Employee Performance programs implementation Training refers to the company’s planned and systematic efforts to modify or develop the

Human Resource Principles Regarding Recruiting, Retaining, and Developing Staff

683 words - 3 pages employees want to be acknowledged, and being treated as an individual keeps most employees in a place for longer. Surprisingly, work environment, opportunities for growth, and the people they are working with are more important to most employees than salary and benefits. As mentioned above, one of the most important facets of retention is employee development. However, development planning is one of the most neglected aspects of business management

Kudler Hr Focus

1042 words - 5 pages training. In addition, Kudler’s e-learning system could provide employee safety training, customer service training, and any other training the company feels may benefit its employees and the organization as a whole. Conclusion Kudler Fine Foods has a desire to improve its retention and efficient handling of employee information and related data. In addition, the company values its employees and wishes to improve employee loyalty and retention

Eurocap Bank (Part 2)

1355 words - 6 pages be affected • Will need more time and effort to convince management to implement proposed system • Resistance of management will be higher Recommendation EEJ’s management has failed to motivate employees and manage their expectations. EUROCAP has an inequitable bonus system that has resulted in serious employee hiring and retention issues which, in turn, has threatened the success of the Japanese division. The recommended

Individual Personality Disorders

960 words - 4 pages programs headed by experienced, customer focused bankers must be developed. References Fest, G. (2010, September). Retention: Finding wWays tTo kKeep tThe bBest cCustomers: wWhy do people leave their banks? To slow attrition, Hibernia, Frost, Wells and Wachovia are taking a hard look at what keeps clients happy and which employee incentives work best." . Bank Technology News, 18(3), need pages . Muthuswamy Shanmugaraja, M., ; Muthusamy Nataraj

Employee Training and Selection

1838 words - 8 pages testing for hiring and promotions” (Tahmincioglu, 2011 para. 10). The retention and work productivity of the employee essentially relies on the proper coaching technique to educate the employee. Organizations have incorporated coaching techniques such as on-the-job coaching, modeling, and auto instruction coaching techniques in their procedures to further develop an employee’s skills. The auto instruction is a self-paced training that does not

Interclean Performance Appraisal

559 words - 3 pages InterClean, Inc. Quarterly SAR Review Form Staff Non-Exempt Today’s Date ______________________ Employee ID ______________________ Employee’s Name¬¬¬¬¬¬¬¬¬¬ ______________________ Hire Date ______________________ Job Title ______________________ Job Code ______________________ Manager’s Name ______________________ Strategic Target Account Development – 5 Potential Clients 1. 2. 3

Related Papers

Employee Retention Paper

1767 words - 8 pages Employee Retention at JD's Casino PSY 435 May 13, 2013 Employee Retention at JD's Casino Employee retention should be a high priority for any company because the lower their turnover rate the higher their profits. One of the most expensive costs in doing business is employee turnover (Employee Retention, 2007). Meaning, the more a company has to pay for training new employees, the less their overall profit will be at the end of the fiscal

Employee Retention At Applied Research Associates

2223 words - 9 pages Abstract Managers always strive to recruit and retain quality employees and reduce turnover rates in their organizations. The study proposes that employee retention rates at Applied Research Associates (ARA) are driven by employee satisfaction. Applied Research Associates employs just over 1,200 employees and the study will use a written, paper survey to collect information from 200 randomly selected employees. Some of the information

Personal Development Essay

640 words - 3 pages . Understanding the importance of the relationship between job motivation and employee retention makes it easier to manage the workforce in an organization. Each employee is a valuable asset in which the success of an organization is depended; therefore it is crucial to retain the employees by motivating them in their work environment. Nowadays people decide on staying with the organizations not only considering the monetary compensation and

Retention And Separation Paper

847 words - 4 pages Retention and Separation Dawn Cooper HRM/322 Susan Plotts April 2, 2012 Retention and Separation Retention pertains to ensuring that employees are active and productive within the organization. Separation occurs when an employee leaves on his or her own accord and is known as voluntary separation, or when an employee is asked to leave and is known as an involuntary separation. Either one requires a