This essay discusses the importance of employee retention in an organization and explores two journal articles on the topic. It highlights the strategies and challenges faced in retaining employees and emphasizes the role of high-level managers in developing effective retention strategies.
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Employee Retention
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EMPLOYEE RETENTION 1 Table of Contents Employee retention...............................................................................................................................2 References.............................................................................................................................................5
EMPLOYEE RETENTION 2 Employee retention Employee retention is defined as the potential of a company in order to retain their employees. Such kind of process can be represented with the help of simple statistics and graphs and it involves numbers of strategies and policies for retaining employees of an organization (Baharin, and Hanafi, 2018).This essay objective is to understand the fundamental concept of employee’s retention and their importance in an organization. In this essay there are two journal papers will be discussed which are based on the process of employee retention. This study will identify the key points, arguments and assertions from journal paper and evaluate the key findings. The title of this journal paper is the effect of talent management of employee retention: A case study of the hospitality industry that was written by Nur Lyana Baharin and Wan noordiana Wan hanafi (Baharin, and Hanafi, 2018).The purpose of this paper is to evaluate the impact of talent management on employee retention. According to the researcher, the employees are the heart of an organization and employee retention is a part of an organization where management team retains their employees in order to move on the right track. However, the researcher identified that employee retention is one of the crucial points which can impact on the performance of the organization. The investigator conducted a literature review in order to gather relevant information and facts about employee retention. The researcher analysed that talent management plays a major role in the development of the effective organization and it has the ability to enhance the performance of the organization (Andrew, and Sofian, 2011).According totheauthor,themanagementteamshouldensurethatallemployeesremain professionalatalltimeintheorganizationandprocessingtherequirementof employees in order to improve their skills and knowledge. The career development process focuses on what companies required to improve the career competencies of employees (Chun, et al., 2013)It is observed that the author provided in-depth analysis about the employee retention and reduced the research gaps occurred in the previous investigation. However, the project management help organization for improving the efficiency of the team and also help them for increasing the level of engagement.
EMPLOYEE RETENTION 3 The investigator provided enough information about the employee retention and suggested that employee retention is defined as the policies and processes which is used by the organization for preventing precious individuals from leaving their jobs. The author also argued that it is very true as many employers have underestimated costs related to a turnover of major employees (Bersin, 2015). In order to understand the concept of the employee retention, the investigator adopted the social exchange theory which is defined as voluntary activities of employees that receive information from another based on mutual relationship.In which the researcher used primary and secondary research method where primary data is collected from the survey through questionnaire,andqualitativeinterviewsandsecondaryinformationisobtained through a literature review. In this paper the researcher used academic and online sources in order to improve the quality of citations and provided URL’s and doi for accessing journal papers.The author also acknowledged the previous research and reduces the drawbacks of previous studies.The major strength of this paper is that the researcher provided in-depth analysis about employee retention and conducted a literature review for better understanding. The author did not explain limitations of employee retention which is very important drawback of this research. Moreover, the author used around 385 samples in the survey and collected their views on this topic and data were analysed with the help of statistical method. From this paper, it has been concluded that employee retention is a key part of an organization which can help them for managing the performance of their business. From the survey it is identified that the majority of participants suggested that project management and employee retention both are very best approaches that can be used by organizations for improving the performance of employees. The title of this paper is perceptions of human resource professionals of challenges to and strategies for retaining managers that were written by Danielle Uitzinger, pharmy Chrysler and Adele Thomas (Uitzinger, Chrysler-Fox, and Thomas, 2018).The key aim of this paper is to describe and explore the issues faced by companies for retaining employees and effective retention processes for the high and middle level manager. According to the researcher, the term employee retention is one of a major section of an organization that helps them for achieving their goals and objectives.
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EMPLOYEE RETENTION 4 It is analysed that the employee retention is a part of HR practice which includes long term succession planning, retaining talented employees and strategic organizational requirements. From this paper, it is observed that a high-level management team provideadvantagestocompaniesbecausetheyhaveenoughknowledgeabout employee retention (Chin, 2010).Moreover, they are responsible for the decision making process and planning for the community. The researcher highlighted the importance of the top level management team in the retention of employees and discussed the challenges faced by the company at the time of retention. According to the author, there are several key factors that increase challenges and issues in retaining the experiences employees such as volatile, open business and dynamic environments. It is identified that the major reason for high employee turnover is the poor or un-effective working environment. A poor working environment reduces the motivation and interest of employees that impact on the performance of the organization(Avey,Wernsing,andPalanski,2012).Theresearcherarguedthat companies which have a large turnover rate are characterised by micro-managerial and hierarchy’s style and they also impact on the job satisfaction process. Due to which companies are not able to retain the experiences and highly skilled employees which directly impact on the performance of the organization. In which the researcher used qualitative and secondary research method for improving the effectiveness of papers. Moreover, the cross-sectional survey is used for collecting the viewpoints of other employees and companies (Bhatnagar, 2007).It has been concluded that the effective retention approach can help companies for improving their performance and efficiency.In which the researcher identified the key challenges faced by companies in the field of employee retention and provided in-depth analysis of employee retention which are advantages of this paper. Moreover, researcher did not provide any numerical data about employee retention which create a gap between theoretical information and research topic.The author used academic journals for improving the quality of citation and added citation in each paragraph in order to provide acknowledgment to previous research. From the above discussion, it has been concluded that employee retention play a significant role in the organization and an appropriate retention strategy can help
EMPLOYEE RETENTION 5 companies to enhance their performance. This essay described the importance of employee retention and discussed two journal articles in order to understand the significance of employee retention in the organization. It has been identified that high- level managers are responsible for the development of effective retention strategies and retaining the highly skilled employees in the organization.
EMPLOYEE RETENTION 6 References Andrew,O.C.andSofian,S.,(2011)Engagingpeoplewhodriveexecutionand organizationalperformance.AmericanJournalofEconomicsandBusiness Administration,3(3), p.569. Avey, J.B., Wernsing, T.S. and Palanski, M.E., (2012) Exploring the process of ethical leadership: The mediating role of employee voice and psychological ownership.Journal of Business Ethics,107(1), pp.21-34. Baharin, N.L. and Hanafi, W.N.W., (2018) Effects of Talent Management on Employee Retention: A Case Study of Hospitality Industry.Global Business and Management Research,10(3), p.697. Bersin, J. (2015) Becoming irresistible: A new model for employee engagement. Deloitte Review, 16(2), 146-163 Bhatnagar, J., (2007) Talent management strategy of employee engagement in Indian ITES employees: the key to retention.Employee relations,29(6), pp.640-663. Chin, W.W., (2010) How to write up and report PLS analyses. InHandbook of partial least squares, 12(2), pp. 655-690). Chun, J.S., Shin, Y., Choi, J.N. and Kim, M.S., (2013) How does corporate ethics contribute tofirmfinancialperformance?Themediatingroleofcollectiveorganizational commitment and organizational citizenship behaviour.Journal of Management,39(4), pp.853-877. Uitzinger, D., Chrysler-Fox, P. and Thomas, A., (2018) Perceptions of human resource professionalsofchallengestoandstrategiesforretainingmanagers.Acta Commercii,18(1), pp.1-10.