Best Practices in Improving Employee Retention and Engagement
Added on 2019-10-08
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Running Head: Contemporary Issues in BusinessContemporary Issues inBusiness: An analysis ofwork motivations andemployee turnover inHong Kong
2Contemporary Issues in BusinessTable of ContentsAbstract:.....................................................................................................................................3Introduction:...............................................................................................................................4Justification of the topic:........................................................................................................4Aim and objective of the study:.............................................................................................5Literature Review:......................................................................................................................6The core element or Dependent Variable: Employee Turnover............................................6The 1st Independent Variable influencing the DV: Shortage of skilled labor........................8The 2nd Independent Variable influencing the DV: Lack of rewards & recognition...........10The 3rd Independent Variable influencing the DV: Lack of effective training &development.........................................................................................................................13Summary of Literature Review:...........................................................................................15Background of study – Industry, Company or Product:..........................................................15Discussion and Managerial Implications:................................................................................16Recommendations:...................................................................................................................18Conclusion:..............................................................................................................................20References:...............................................................................................................................22
3Contemporary Issues in BusinessAbstract: This report elucidates the need for employee motivation in the hospitality sector of HongKong. It reflects the ways in which the employees are motivated in the hospitality industryand the impact of such motivation on their turnover intentions. For the purpose of thisresearch, the JW Marriott Hotel Hong Kong has been chosen. The report contains an analysisof the general factors responsible for lack of employee motivation in the hospitality sector ofHong Kong and the resulting impact on the retention of the employees and staffs in thisindustry. Through an evaluation of the current scenario of HRM practices within the chosenhotel, encompassing the employee motivation and retention policies undertaken by themanagement for motivating the workforce, it has been determined that there are some gaps inthe current strategies undertaken by the management of the hotel leading to a situation of lackof employee motivation within the organization. This has led to an increasing turnoverintention of the staffs of the hotel and contributed to poor retention of the workforce inrespect of the hotel. Upon a comprehensive analysis, it was identified that the employeeturnover was being caused by three dominant issues, such as the lack of skilled workforce,the absence of effective rewards and recognition policies and finally, a lack of effectivetraining and development of the employees and staffs working in the hotel. Therefore, somerecommendations have been offered to the management of the JW Marriott Hotel Hong Kongso that they can undertake enhanced employee motivational strategies leading to betterretention and reduce turnover.
4Contemporary Issues in BusinessIntroduction: The report has been prepared with the aim of identifying and justifying one of thecontemporary issues in business the issue which has been discussed. In this report, the issuewhich has been discussed is related to work motivation and employee turnover in HongKong. The Chosen organization is JW Marriott Hong Kong. The report has been prepared intwo major segments. One segment deals with the literature review which is consistent withthe issue of employee turnover and motivation in Hong Kong and the other second segmentdeals with the intricate analysis of various literature to present the identification of bestpractice with respect to the management of employee motivation and turnover issue inbusiness in any business.Justification of the topic:In any business, the aspects of employee retention and motivation are highly crucial and vital.The employee retention and motivation are two major functions of the HRM [ CITATIONAle182 \l 1033 ]. It has been seen in every sector including hospitality sector employeeretention and motivation impacts the ultimate outcomes of the business. The businessorganizations which are quite responsive towards employee motivation are found to besuccessful in retaining the efficient and skilled employees [ CITATION Mel142 \l 1033 ]Hence, this is a relevant topic to undertake research for determining the key aspects ofemployee motivation and turnover in the hospitality sector of Hong Kong. It is expected thatthe study will help to shed light on some of the new aspects of employee motivation andturnover in the hospitality industry of Hong Kong, based on which the future strategies couldbe undertaken by the management of the hotel organizations in the country for achievingbetter retention and reduced employee turnover.
5Contemporary Issues in BusinessAim and objective of the study:The aim of the study has been to identify the major factors that motivate the employees andimpact the turnover in the hospitality sector in Hong Kong. The hospitality sector in HongKong is facing the issues of decreased employee satisfaction and enhanced turnover of theemployees. There are several reasons that are behind the lack of employee satisfaction and anincrease in the turnover intention of the employees. More specifically, the study seeks toidentify the major causes of lack of motivation of the employees and turnover intention in thein the case of JW Marriott Hong Kong. The objectives of the study are as follows:To identify some of the major factors influencing employee motivation within anorganization in the hospitality sector of Hong KongTo analyze some of the most potent issues that are responsible for the high turnover ofthe employees in the hospitality sector of Hong Kong. To determine the current situation of employee motivation within the JW Marriotthotel in Hong KongTo examine the current retention and turnover situation within the organizationTo evaluate some of the major factors responsible for employee dissatisfaction withinthe organization.To offer valuable recommendations to the management of the hotel for improving thecurrent employee motivation and retention practices.
6Contemporary Issues in BusinessLiterature Review: The core element or Dependent Variable: Employee TurnoverDefinition of DVEmployee turnover or labor turnover refers to the rate at which an organization loses itsworkforce. It denotes the length of time in which the employees tend to remain within theorganization or the rate at which they leave the organization. Employee turnover can bemeasured from the perspective of an individual organization and also from that of the entireindustry. An organization having high employee turnover in comparison with its rivalsreflects that the average tenure of the employees working in that organization is lesser thanthat of the rival companies operating in the same industry. High employee turnover isconsidered to be a negative aspect from the perspective of the company and can harm thereputation and future prospects of the organization. This is because if skilled and competentworkers tend to leave an organization frequently, then the workforce of the organization willbe depleted of skillful, qualified and talented employees and the organization will have to fillthose gaps with amateur employees. Therefore, high employee turnover is a negative prospectfor an employer and in such a situation, the management of the organization must undertakequick strategic decision-making in order to determine the major causes of high turnover andimplement effective resolution strategies [ CITATION Wha19 \l 1033 ].Role of DVThe employee turnover is an important factor to consider by the management of anorganization. Too much of turnover is the cause of some underlying factors such as the lackof employee motivation within the workplace. This creates job dissatisfaction and inducesturnover intention within the employees of an organization. Some of the major causes of lack
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