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Critical Issue in Business and Management Assignment

   

Added on  2020-04-21

13 Pages3671 Words115 Views
Running head: Critical Issue in Business and ManagementCritical Issue in Business and Management

Critical Issue in Business and Management2Table of ContentsIntroduction......................................................................................................................................3Leadership and Employee retention in the Age of Uncertainty......................................................3Conclusion.......................................................................................................................................9References......................................................................................................................................10

Critical Issue in Business and Management3IntroductionThe current age of uncertainty is offering both opportunities and challenges within an organization around the world. Certain employees face challenges due to instability in their career. Further, other employees may face destruction at the first time. It is essential that manager, employees, and organization get ready for the human charactersof the existing environment. It may be in the context of the age of uncertainty, concern, and fear for those people who are not assured what to expect. This report critically analyses the role of culture and important. Leadership and Employee retention in the Age of Uncertainty According to Strom et al. (2014), employee engagement is the degree at which employees feel passionate regarding their tasks and are committed to the company and put the flexible option into their performance. It is analyzed that employee engagement is not the equivalent of employee satisfaction. It is also stated that workplace culture and employee engagement is beneficial to increase customer loyalty in the age of uncertainty. Further, satisfied employees canbe able to influence customers towards their products and services as it can gain the loyalty of customers. Engaged employees have the high extent of understanding regarding how to attain customer’s needs. Consequently, it can be opined that engaged employees are beneficial to increase customer loyalty towards the organization. In contrast to this, Ugwuet al. (2014) claims that highly engaged employee may sell to engage customers, increase repeat purchase, improve customer loyalty, and recommend to friends at high extent for the company. It is also known as customer retention because the company makes a psychological and mental link with the customers.

Critical Issue in Business and Management4De Clercq et al. (2014) opined that employees who are satisfied from their job then they can retain at the workplace in long-term. Work engagement is favorably associated with organizational commitment. It is also analyzed that approximately 85% of engaged employees make a plan on bonding as compared to 27% of disengaged workforces. Furthermore, about 41%of engaged workforces stated that they would stay in case the company gives under pressure on them (Wang, et. al., 2015). On the other hand, He et al., (2014) evaluated that engagement influences the employee performance. In this way, it is analyzed that engaged employee performs work harder and are more loyal, and also more prospect to go the extra mile for their company. It is also assessed thatretention is an erroneous factor which encourages a person to attain high extent of performance. From the survey of Wang et al. (2015), it was found that approximately 50,000 employees believed that engaged employees perform 20% better than their colleagues. It is also determined that high extent of engagement at workplace aids employees to take initiatives and following learning goals. It is also evaluated that employees that are extensively engaged are twice greater than other employees. In the age of uncertainty, radical changes take place in the people’s lifestyle and their performances. There are different new technologies like artificial intelligence and globalization that are driving uncertainty at each place. However, Biswas and Bhatnagar (2013) argue that engaged employees have a linear impact on the performance of the company. Along with this, a leader can engage their employees by offering equal opportunities to them. It is also evaluated that engagement at the individual level can be too complex that reliably enlighten much performance. Agarwal (2014) argued that engaged employees are more prospected to sponsor the companies as an alternative to work and highly endorsed its products and services. It is also evaluated that

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