Impact of recruitment strategies on employee retention - An overview of Eltizam Asset Management Group, UAE
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Added on 2020-04-21
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27 Table 10 : Performance Bonus Structure is essential 28 Table 11 : Structured Path advancement 29 Table 12: Employee involved in decision relating to recruitment related to business 30 Table 13: Salary Package’s impact to retain staff 31 Table 14 : Type of business impact’s to retain staff 32 Table 15 : Job responsibility influence to retain employees 33 Table 16 : Job training, coaching influence in retention of employees 34 Table 17 : Zeal to retain employees 35 Table 17 :
Impact of recruitment strategies on employee retention - An overview of Eltizam Asset Management Group, UAE
Added on 2020-04-21
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Impact of recruitment strategies on employee retention - An overview of Eltizam Asset
Management Group, UAE
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Management Group, UAE
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Table of Contents
Chapter One :Introduction...............................................................................................................6
1.1 Background of the research study..............................................................................................6
1.2 Research Problem......................................................................................................................6
1.3 Research Aim.............................................................................................................................7
1.4 Research Objectives...................................................................................................................7
1.5 Research Questions....................................................................................................................8
1.6 Research Hypothesis..................................................................................................................8
1.7 Significance of the study...........................................................................................................8
Chapter Two : Literature Review....................................................................................................9
2.1 Introduction................................................................................................................................9
2.2 Definition of Recruitment and Selection...................................................................................9
2.3 Definition of Recruitment........................................................................................................10
2.4 Background of Eltizam Asset Management Group.................................................................10
2. 5 Recruitment strategies employed by Eltizam Asset Management Group..............................11
2.6 Retention strategies employed by Eltizam Asset Management Group...................................12
2.7 Conceptual framework.............................................................................................................14
2.8 Conclusion...............................................................................................................................16
Chapter Three: Research Methodology.........................................................................................17
3.1 Research Philosophy................................................................................................................17
3.2 Justification for using Positivism research philosophy...........................................................17
3.3 Research Approach..................................................................................................................17
3.5 Research Purpose.....................................................................................................................18
3.7 Research Strategy....................................................................................................................18
3.9 Data Collection........................................................................................................................18
3.10 Sample Selection- Population and Sample size.....................................................................19
3.11 Data Analysis.........................................................................................................................19
3.12 Limitations.............................................................................................................................19
3.13 Ethical Considerations...........................................................................................................19
Chapter Four: Results, Analysis and Discussion...........................................................................21
Chapter One :Introduction...............................................................................................................6
1.1 Background of the research study..............................................................................................6
1.2 Research Problem......................................................................................................................6
1.3 Research Aim.............................................................................................................................7
1.4 Research Objectives...................................................................................................................7
1.5 Research Questions....................................................................................................................8
1.6 Research Hypothesis..................................................................................................................8
1.7 Significance of the study...........................................................................................................8
Chapter Two : Literature Review....................................................................................................9
2.1 Introduction................................................................................................................................9
2.2 Definition of Recruitment and Selection...................................................................................9
2.3 Definition of Recruitment........................................................................................................10
2.4 Background of Eltizam Asset Management Group.................................................................10
2. 5 Recruitment strategies employed by Eltizam Asset Management Group..............................11
2.6 Retention strategies employed by Eltizam Asset Management Group...................................12
2.7 Conceptual framework.............................................................................................................14
2.8 Conclusion...............................................................................................................................16
Chapter Three: Research Methodology.........................................................................................17
3.1 Research Philosophy................................................................................................................17
3.2 Justification for using Positivism research philosophy...........................................................17
3.3 Research Approach..................................................................................................................17
3.5 Research Purpose.....................................................................................................................18
3.7 Research Strategy....................................................................................................................18
3.9 Data Collection........................................................................................................................18
3.10 Sample Selection- Population and Sample size.....................................................................19
3.11 Data Analysis.........................................................................................................................19
3.12 Limitations.............................................................................................................................19
3.13 Ethical Considerations...........................................................................................................19
Chapter Four: Results, Analysis and Discussion...........................................................................21
4.1 Introduction..............................................................................................................................21
4.2 Demographic profile of the Employees...................................................................................21
4.3 Recruitment strategies employed by Eltizam Group...............................................................22
4.4 Retention strategies employed by Eltizam Group...................................................................31
4.5 Correlation studies...................................................................................................................40
4.6 Testing of Hypothesis..............................................................................................................43
4.7 Interpretation of Results and Analysis.....................................................................................45
Chapter 5: Conclusion, Recommendation and Future Work.........................................................46
5.1 Conclusion...............................................................................................................................46
5.2 Recommendations....................................................................................................................47
Improving employee recruitment..............................................................................................47
Improving employee retention...................................................................................................48
References and Bibliography.........................................................................................................50
Appendix........................................................................................................................................54
4.2 Demographic profile of the Employees...................................................................................21
4.3 Recruitment strategies employed by Eltizam Group...............................................................22
4.4 Retention strategies employed by Eltizam Group...................................................................31
4.5 Correlation studies...................................................................................................................40
4.6 Testing of Hypothesis..............................................................................................................43
4.7 Interpretation of Results and Analysis.....................................................................................45
Chapter 5: Conclusion, Recommendation and Future Work.........................................................46
5.1 Conclusion...............................................................................................................................46
5.2 Recommendations....................................................................................................................47
Improving employee recruitment..............................................................................................47
Improving employee retention...................................................................................................48
References and Bibliography.........................................................................................................50
Appendix........................................................................................................................................54
Table of Tables
Table 1: Gender.............................................................................................................................20
Table 2: Age Group.......................................................................................................................20
Table 3: What is the most important technique used by your organization to recruit new
employees?....................................................................................................................................21
Table 4: Do you provide Stipend programs to new recruits..........................................................22
Table 5: Do you provide Internships and Liaisons to new recruits...............................................23
Table 6: Does the organization clearly define the position objectives, requirements and candidate
specifications in the recruitment process?.....................................................................................24
Table 7: To what extent do/did you feel that Salary Package of business impact the ability to
recruit staff?...................................................................................................................................25
Table 8: To what extent do/did you feel that the type of business impact’s the organizations
ability to recruit staff?....................................................................................................................26
Table 9: Does the psychological aspects of the candidate influence the recruitment process?.....27
Table 10 : Performance Bonus Structure is essential....................................................................28
Table 11 : Structured Path advancement.......................................................................................29
Table 12: Employee involved in decision related to business.......................................................30
Table 13: Salary Package’s impact to retain staff.........................................................................31
Table 14 : Type of business impact’s to retain staff......................................................................32
Table 15 : Job responsibility influence to retain employees..........................................................33
Table 16 : Job training, coaching influence in retention of employees.........................................34
Table 17 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................35
Table 18 : Organizational commitment prevents frequent staff resignation.................................36
Table 19 : Performance Bonus Structure.......................................................................................37
Table 20 : Communication with Superiors....................................................................................38
Table 21: Correlation amongst recruitment strategies...................................................................40
Table 22: Correlation amongst retention strategies.......................................................................41
Table 23: Independent Sample t-test.............................................................................................42
Table 24: ANOVA: Recruitment...................................................................................................42
Table 25: Independent sample t-test..............................................................................................43
Table 26: ANOVA – Retention.....................................................................................................44
Table 1: Gender.............................................................................................................................20
Table 2: Age Group.......................................................................................................................20
Table 3: What is the most important technique used by your organization to recruit new
employees?....................................................................................................................................21
Table 4: Do you provide Stipend programs to new recruits..........................................................22
Table 5: Do you provide Internships and Liaisons to new recruits...............................................23
Table 6: Does the organization clearly define the position objectives, requirements and candidate
specifications in the recruitment process?.....................................................................................24
Table 7: To what extent do/did you feel that Salary Package of business impact the ability to
recruit staff?...................................................................................................................................25
Table 8: To what extent do/did you feel that the type of business impact’s the organizations
ability to recruit staff?....................................................................................................................26
Table 9: Does the psychological aspects of the candidate influence the recruitment process?.....27
Table 10 : Performance Bonus Structure is essential....................................................................28
Table 11 : Structured Path advancement.......................................................................................29
Table 12: Employee involved in decision related to business.......................................................30
Table 13: Salary Package’s impact to retain staff.........................................................................31
Table 14 : Type of business impact’s to retain staff......................................................................32
Table 15 : Job responsibility influence to retain employees..........................................................33
Table 16 : Job training, coaching influence in retention of employees.........................................34
Table 17 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................35
Table 18 : Organizational commitment prevents frequent staff resignation.................................36
Table 19 : Performance Bonus Structure.......................................................................................37
Table 20 : Communication with Superiors....................................................................................38
Table 21: Correlation amongst recruitment strategies...................................................................40
Table 22: Correlation amongst retention strategies.......................................................................41
Table 23: Independent Sample t-test.............................................................................................42
Table 24: ANOVA: Recruitment...................................................................................................42
Table 25: Independent sample t-test..............................................................................................43
Table 26: ANOVA – Retention.....................................................................................................44
Table of Figures
Figure 1: Conceptual Framework to test recruitment strategies....................................................13
Figure 2 : Conceptual framework to test retention strategies........................................................14
Figure 3: Demographic profile of Employees...............................................................................21
Figure 4: The most important technique used by Eltizam to recruit new employees....................22
Figure 5: Provides Stipend to new recruits....................................................................................23
Figure 6: Provides Internships and Liaisons..................................................................................24
Figure 7: The organization defines the requirements to candidates..............................................25
Figure 8: Salary Package’s impact to recruit new staff.................................................................26
Figure 9: Type of business’s impact to recruit new staff...............................................................27
Figure 10: Influence of psychological aspect of the candidate in recruitment..............................28
Figure 11 : Performance Bonus Structure is essential...................................................................29
Figure 12 : Structured Path towards advancement........................................................................30
Figure 13: Employee involved in decision related to business......................................................31
Figure 14 : Salary Package’s impact to retain staff.......................................................................32
Figure 15 : Type of business impact’s to retain staff.....................................................................33
Figure 16 : Job responsibility influence to retain employees........................................................34
Figure 17 : Job training, coaching influence in retention of employees........................................35
Figure 18 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................36
Figure 19 : Organizational commitment prevents frequent staff...................................................37
Figure 20 : Performance bonus Structure......................................................................................38
Figure 21 : Communication with Superiors...................................................................................39
Figure 1: Conceptual Framework to test recruitment strategies....................................................13
Figure 2 : Conceptual framework to test retention strategies........................................................14
Figure 3: Demographic profile of Employees...............................................................................21
Figure 4: The most important technique used by Eltizam to recruit new employees....................22
Figure 5: Provides Stipend to new recruits....................................................................................23
Figure 6: Provides Internships and Liaisons..................................................................................24
Figure 7: The organization defines the requirements to candidates..............................................25
Figure 8: Salary Package’s impact to recruit new staff.................................................................26
Figure 9: Type of business’s impact to recruit new staff...............................................................27
Figure 10: Influence of psychological aspect of the candidate in recruitment..............................28
Figure 11 : Performance Bonus Structure is essential...................................................................29
Figure 12 : Structured Path towards advancement........................................................................30
Figure 13: Employee involved in decision related to business......................................................31
Figure 14 : Salary Package’s impact to retain staff.......................................................................32
Figure 15 : Type of business impact’s to retain staff.....................................................................33
Figure 16 : Job responsibility influence to retain employees........................................................34
Figure 17 : Job training, coaching influence in retention of employees........................................35
Figure 18 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................36
Figure 19 : Organizational commitment prevents frequent staff...................................................37
Figure 20 : Performance bonus Structure......................................................................................38
Figure 21 : Communication with Superiors...................................................................................39
Chapter One :Introduction
1.1 Background of the research study
The successful adoption of recruitment as well as retention of employees has proved to be
most integral part of Eltizam Asset Management Group (Eltizam.ae 2017). In addition,
recruitment and selection for asset management group have proved to be core human resource
planning activity and vital part of overall strategic plan. Furthermore, the complexity of the
human resource planning process widely varies upon size of the organization as well as
perception and status of the human resource function within Eltizam Asset Management Group.
Therefore, Eltizam Asset Management Group has Human Resources as a core function used in
their operations for managing the manpower in an effective way (Al Ariss, Cascio and Paauwe
2014).
The research study had been conducted by the researcher by focusing on UAE-based
Company and the name of the company is Eltizam Asset Management Group (Eltizam.ae 2017).
This particular company is a dynamic, motivated as well as proficient asset management
company that aims at delivering integrated services in an effective way that gives potential
clients a new definition to asset management activities. This company employs exceptional
people who have the zeal and confidence towards working in a competitive environment. This
company is setting new benchmarks as well as standards to become leading authority in asset
management in Middle East region. The company strives to provide highest quality of services to
the potential clients based on international standards. The human resources and staff members
working at Eltizam Asset Management Group are passionate about their work and at the same
time encourage each other to achieve more in the near future and be recognized and awarded.
The company takes the ownership as well as accountability for all the actions. The company
ensures transparency as well as sustaining trust level by delivering services on time and keeping
the promise. The company even expects high levels of ethics as well as professionalism and
treats each employee equally (Armstrong and Taylor 2014). The company believes in constantly
monitoring trends by putting emphasis upon innovation as well as adaptability towards change.
The company seeks opportunities to add value to the business enterprise in the most appropriate
way. They are open to new ideas as well as believe in continuously learning from each other.
The employees working in the company are committed to the core values as well as becoming
loyal to the business enterprise. The employees working at this company are proud to represent
themselves at true asset to the business enterprise (Al-Emadi, Schwabenland and Wei 2015).
1.2 Research Problem
The problem identified in the present research study is recruiting new candidates and
even retention of existing employees at Eltizam Asset Management Group (Eltizam.ae 2017). It
1.1 Background of the research study
The successful adoption of recruitment as well as retention of employees has proved to be
most integral part of Eltizam Asset Management Group (Eltizam.ae 2017). In addition,
recruitment and selection for asset management group have proved to be core human resource
planning activity and vital part of overall strategic plan. Furthermore, the complexity of the
human resource planning process widely varies upon size of the organization as well as
perception and status of the human resource function within Eltizam Asset Management Group.
Therefore, Eltizam Asset Management Group has Human Resources as a core function used in
their operations for managing the manpower in an effective way (Al Ariss, Cascio and Paauwe
2014).
The research study had been conducted by the researcher by focusing on UAE-based
Company and the name of the company is Eltizam Asset Management Group (Eltizam.ae 2017).
This particular company is a dynamic, motivated as well as proficient asset management
company that aims at delivering integrated services in an effective way that gives potential
clients a new definition to asset management activities. This company employs exceptional
people who have the zeal and confidence towards working in a competitive environment. This
company is setting new benchmarks as well as standards to become leading authority in asset
management in Middle East region. The company strives to provide highest quality of services to
the potential clients based on international standards. The human resources and staff members
working at Eltizam Asset Management Group are passionate about their work and at the same
time encourage each other to achieve more in the near future and be recognized and awarded.
The company takes the ownership as well as accountability for all the actions. The company
ensures transparency as well as sustaining trust level by delivering services on time and keeping
the promise. The company even expects high levels of ethics as well as professionalism and
treats each employee equally (Armstrong and Taylor 2014). The company believes in constantly
monitoring trends by putting emphasis upon innovation as well as adaptability towards change.
The company seeks opportunities to add value to the business enterprise in the most appropriate
way. They are open to new ideas as well as believe in continuously learning from each other.
The employees working in the company are committed to the core values as well as becoming
loyal to the business enterprise. The employees working at this company are proud to represent
themselves at true asset to the business enterprise (Al-Emadi, Schwabenland and Wei 2015).
1.2 Research Problem
The problem identified in the present research study is recruiting new candidates and
even retention of existing employees at Eltizam Asset Management Group (Eltizam.ae 2017). It
is difficult to recruit potential candidates every time in a company because any wrong hire can
lead to hamper the level of productivity in that particular job field. Recruiting costs are higher so
it is a great responsibility for the HR department to recruit deserving candidates for the job.
Retaining employees does not mean hiring an employee who is going to stay in the same position
until he or she retires. Recruiter faces difficulty in balancing speed and quality. These recruiters
face biggest challenge in balancing speed of hire with quality of hire. Even after recruitment, it is
very difficult to retain existing employees for longer duration of time frame. The recruitment
strategy adopted by the company should be new and outdated. In order to work in this
competitive environment, recruiters needs to ensure that they are using latest and updated
recruitment strategy to ensure that the new strategy will help in producing superior results
(Bamberger, Biron and Meshoulam 2014). With the advancement of technology and shift in
culture, it is noted that there is huge changes present in the current recruitment world. Recruiters
face new challenges because of digital landscape, restless workforce.
Recruitment and retention of employees is not an easy task and for this reason,
companies hire recruiters as well as human resource departments. In addition, the HR
Department of a company faces various challenges in recruiting new employee. The ability of
business to overcome the challenges depends upon various factors that include economy as well
as competence and commitment of the recruiter. Hiring a new candidate is time taking process
(Benitez-Amado, Llorens-Montes and Fernandez-Perez 2015). The issue faced by recruiter is
regarding quality of candidates that prevails in this changing working economy. There is an
emergence of technologies as well as awareness of global economics and increased educational
requirements that are in high demand.
1.3 Research Aim
The main aim of the research study is to investigate on “Impact of recruitment strategies
on employee retention - An overview of Eltizam Asset Management Group, UAE” (Eltizam.ae
2017). The study investigates as well as improves on the method for the recruitment and
retention of employees at Eltizam Asset Management Group. The research study at the end draw
conclusions that will help HR managers of Eltizam Asset Management Group to retain the
existing employees and recruit talented and potential candidates by using effective strategies.
1.4 Research Objectives
To find out any gender difference in recruitment strategies as followed by Eltizam Asset
Management Group (Eltizam.ae 2017)
To highlight any gender difference in retention strategies as followed by Eltizam Asset
Management Group
lead to hamper the level of productivity in that particular job field. Recruiting costs are higher so
it is a great responsibility for the HR department to recruit deserving candidates for the job.
Retaining employees does not mean hiring an employee who is going to stay in the same position
until he or she retires. Recruiter faces difficulty in balancing speed and quality. These recruiters
face biggest challenge in balancing speed of hire with quality of hire. Even after recruitment, it is
very difficult to retain existing employees for longer duration of time frame. The recruitment
strategy adopted by the company should be new and outdated. In order to work in this
competitive environment, recruiters needs to ensure that they are using latest and updated
recruitment strategy to ensure that the new strategy will help in producing superior results
(Bamberger, Biron and Meshoulam 2014). With the advancement of technology and shift in
culture, it is noted that there is huge changes present in the current recruitment world. Recruiters
face new challenges because of digital landscape, restless workforce.
Recruitment and retention of employees is not an easy task and for this reason,
companies hire recruiters as well as human resource departments. In addition, the HR
Department of a company faces various challenges in recruiting new employee. The ability of
business to overcome the challenges depends upon various factors that include economy as well
as competence and commitment of the recruiter. Hiring a new candidate is time taking process
(Benitez-Amado, Llorens-Montes and Fernandez-Perez 2015). The issue faced by recruiter is
regarding quality of candidates that prevails in this changing working economy. There is an
emergence of technologies as well as awareness of global economics and increased educational
requirements that are in high demand.
1.3 Research Aim
The main aim of the research study is to investigate on “Impact of recruitment strategies
on employee retention - An overview of Eltizam Asset Management Group, UAE” (Eltizam.ae
2017). The study investigates as well as improves on the method for the recruitment and
retention of employees at Eltizam Asset Management Group. The research study at the end draw
conclusions that will help HR managers of Eltizam Asset Management Group to retain the
existing employees and recruit talented and potential candidates by using effective strategies.
1.4 Research Objectives
To find out any gender difference in recruitment strategies as followed by Eltizam Asset
Management Group (Eltizam.ae 2017)
To highlight any gender difference in retention strategies as followed by Eltizam Asset
Management Group
To evaluate on the current recruitment strategies used by Eltizam Asset Management
Group
To assess on the current retention strategies used by Eltizam Asset Management Group
1.5 Research Questions
1. Is there any gender difference in recruitment strategies followed by Eltizam Asset
Management Group?
2. Is there any gender difference in retention strategies followed by Eltizam Asset
Management Group?
1.6 Research Hypothesis
Hypothesis 1 : There is no gender difference in recruitment strategies of Eltizam Group
Hypothesis 2 : There is no age difference in recruitment strategies of Eltizam Group
Hypothesis 3 : There is no gender difference in retention strategies of Eltizam Group
Hypothesis 4 : There is no age difference in retention strategies of Eltizam Group
1.7 Significance of the study
The significance of the research study is to identify the issues that arrive from recruitment
and retention of employees at Eltizam Asset Management Group (Eltizam.ae 2017). Current
research into Eltizam Asset Management Group business recruitment and retention issues
emphasizes upon the ability for discovering as well as retaining talented staff members. It is
important to integrate the benefits of recruitment and treatment of employees in Eltizam Asset
Management Group for enhancing the outcomes of these processes in business premises. The
current literature in the study explains about recruitment strategies and retention strategies. Most
of the human resource department finds it difficult to hire new employees at work. Retention of
existing employees is very important. Corporate culture as well as working environment plays
main role in retention activities (Cascio and Boudreau 2016). There are several factors such as
compensation as well as benefits and working environment in employee recruitment.
Group
To assess on the current retention strategies used by Eltizam Asset Management Group
1.5 Research Questions
1. Is there any gender difference in recruitment strategies followed by Eltizam Asset
Management Group?
2. Is there any gender difference in retention strategies followed by Eltizam Asset
Management Group?
1.6 Research Hypothesis
Hypothesis 1 : There is no gender difference in recruitment strategies of Eltizam Group
Hypothesis 2 : There is no age difference in recruitment strategies of Eltizam Group
Hypothesis 3 : There is no gender difference in retention strategies of Eltizam Group
Hypothesis 4 : There is no age difference in retention strategies of Eltizam Group
1.7 Significance of the study
The significance of the research study is to identify the issues that arrive from recruitment
and retention of employees at Eltizam Asset Management Group (Eltizam.ae 2017). Current
research into Eltizam Asset Management Group business recruitment and retention issues
emphasizes upon the ability for discovering as well as retaining talented staff members. It is
important to integrate the benefits of recruitment and treatment of employees in Eltizam Asset
Management Group for enhancing the outcomes of these processes in business premises. The
current literature in the study explains about recruitment strategies and retention strategies. Most
of the human resource department finds it difficult to hire new employees at work. Retention of
existing employees is very important. Corporate culture as well as working environment plays
main role in retention activities (Cascio and Boudreau 2016). There are several factors such as
compensation as well as benefits and working environment in employee recruitment.
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