HR Practices and Employee Retention

This assignment examines the relationship between Human Resource (HR) practices and policies and their influence on employee retention rates. It delves into how companies communicate changes to staff, particularly regarding government-mandated working hours adjustments, to maintain morale and encourage longer employment durations. The assignment also outlines a research project plan employing interpretivism philosophy, primary and secondary data sources, descriptive research design, and thematic analysis to investigate the topic's complexities.

PROJECT CONTEXT AND PROPOSAL

A] Human resource management is the strategic process of managing people in the organization. HR practices and policies provide consistency and transparency in the working process that supports in smooth functioning of
operations. One of the main aim of every firm is to retain skilled persons in the workplace for longer duration. These talented employees are life blood of the company, they put their hard efforts for accomplishing objecti ves of
entity. Their contribution and innovative ideas support in increasing performance of the organization and gaining competitive advantage too. In the modern corporate world companies are facing huge competition and many big
competitors are offering attractive salary packages to the skilled employees. That is why most of the firms are facing issue of high employee turnover. For minimizing this issue, it is essential to make effective HR practices and
policies so that such types of problems can be minimized in the entity. Present proposal is based on the Tesco which is leading retailer which provides high quality products to its customers. Company treats its consumers as assets
of the organization and continuously work to enhance sanctification level of these potential buyers. Employee retention is the burning issue that impacts the overall performance of the cited firm. Employee retention refers to the
potential of an organisation to keep a hold on its employee on a particular given period.
Employees are very important part of the organization, they contribute well in accomplishing goals of the organizations.. They put their hard efforts and find innovative ways to perform their tasks well. Through this
investigation major factors which demotivate workers and force them to leave their jobs has been explained. That is helpful for the companies to find proper solutions for resolving such type of problems in the workplace. Apart
from this, by this study companies will be able to identify needs of its valuable staff members so that they will be able to make employees satisfy. It will beneficial for other competitors as well in retaining their employees in the
organization for longer duration. This research will be beneficial for other scholars as well because they will be able to get specific guidelines for conducting further research on the same subject matter. Through this study other
researchers will be able to make their report more effectively and they will be able to get authentic detail about employee retention in the organizations due to ineffective HR practices and policies.
B] Data will be sourced from secondary source. These secondary sources are able to give good information about the subject matter. These are such as authentic websites, a public data will be used to gather information about this
subject. Researcher will also take support of previous articles of other authors who have done research on the same topic. http://ro.ecu.edu.au/cgi/viewcontent.cgi?article=1424&context=theses ,
http://www.asianonlinejournals.com/index.php/AJSSMS/article/viewFile/587/pdf_47, https://theses.lib.vt.edu/theses/available/etd-07272011-150612/unrestricted/Martin_MJ_D_2011.pdf, Renwick, D. W., Redman, T. & Maguire,
S., (2013), Buller, P. F. & McEvoy, G. M., (2012) etc. All these sources will give good detail about HR practices ad its impact on employee retention rate. That will provide information on HR practices, working of companies and
relationship between HR practices and employee retention ratio .
C] Dissertation will define concept of retention ratio of workers in the organization. It will focus on research problem of factors that impact on retention rate of employees in the workplace ( Jiang and et.al, 2012). It will
concentrate on HR practices and policies in the Tesco. Another research objective will be to identify relationship between HR practices and retention rate of employees. This relationship will assist in analysing impact of HR
practices of Tesco on employee retention ratio of the cited firm. Current study will analyse the impact of HR practices and policies on employee retention ratio of the company. Furthermore, it will discuss concept of employees’
retention ratio, policies and practices of human resource management of the corporation.
Research question
 What is the meaning of employee retention ratio and what are the factors that impact on retention rate?
 What are the major practices, policies of human resource management?
 How HR practices of Tesco impact on employee retention rate of company?
 What is the relationship between HR practices and retention rate of employees?
Literature Review
Employee retention ratio
Employee retention is an effort made by a business to continue such a working conditions which supports the current working employees to continue there work with this organisation. According to Buller and McEvoy,
(2012) Employee retention can be defined as ability of companies to retain its skilled employees in the organization for longer duration. In order to minimize turn over and enhance retention ratios companies are putting their hard
efforts so that they can satisfy their staff members’ needs and can hold them in the firm. Many companies are addressing needs of their valuable workers and trying to fulfil their requirements. Hiring the new candidates frequently
is costly task for corporations thus, they try to satisfy their workers so that they work with the corporation for longer duration. Skilled people are life blood of the companies, their skills and innovative ideas are beneficial for the
entities. Employees are leaving their jobs frequently because they are getting better opportunities in other competitor brands. It is the duty of HR manager that to reduce increasing number of worker's turn over. For that they have
to improve their working condition and have to treat them well so that they feel satisfy and stay in the corporation for longer duration. Author has stated that more than 81% firms are facing the issue of high employee turn over
that impact on their working effectiveness.
Employee retention can be defined as policies and practices of human resource management that help in keeping hold to workers in the organization for longer duration. Staff member takes decision of leaving the job
due to low satisfaction. That may be due to poor culture, low salary packages etc. That decreases morale of workers and they think not to continue their jobs. If people stay in the workplace for longer period then it is good for the
entity
Practices and policies of human resource management
There various issues faced by HR like maintaining the employee retention, recruiting the talented employees to increase the productivity, to ensures that the business is operating efficiently, ensuring the safetyu of the
employees in the work place along with the discipline. So as a result company should provide with incentives and remunerations so as to maintain the employee retention. By providing the training to the employees not only
increases the productivity but also increases the quality of the production. Practices and policies of HR is essential for the organization, it impacts on the working of the employees and retaining them in the workplace for longer
duration. Performance appraisal is one of the major practices that motivates people. If companies appraise them on the bases of their performance then it encourages them and they stay in the organization for longer duration. It is
the duty of HR manager that to make such policies that can create equality in the workplace so that deserve person get opportunity to get promotion. That supports in retaining the people in the corporation in longer duration.
Ethical culture is another policy of human resource management. That supports in creating healthy working environment in the corporation. It is the responsibility of HR manage that to follow legal norms and create environment
according to this norm. Healthy culture create positive image in the mind of employees and they feel good in the workplace. That encourages them in staying in the firm for longer duration. They put their best efforts so that
objective of entity can be obtained.
Healthy, safety and security is one of the major policy of human resource management. HR manager have to create such environment so that workers can feel safety and secure. HR manager have to follow legislation
properly so that it can conduct its operations smoothly. Company has to provide secure workplace atmosphere to the employees where they can work easily without any fear. If any damage cause to them then firm is responsible to
compensate for the same. It has to give amount as compensation for the damage. This practice of the organization enhance trust of the employees and they perform well in the organization.
According to Renwick, Redman and Maguire, (2013) human resource have to make effective communication in the workplace. It is one of the main HR policy that helps in minimizing confusions and
misunderstanding. Most of the time people feel unable to perform their work well because of lack of communication. But HR policy related to coordination is that in which human resource management has to pass each necessary
information to staff members so that they can perform their work properly. It reduces mistakes and helps in improving business performance significantly.
Impact on HR practices on employee retention rate. Impact of HR practices on employee retention ratio is the burning problem in most of the organizations. It is fact that most of the employees are leaving their jobs frequently in
order to get attractive pay scales. There are many firms which are offering such skilled workers, impressive wages and incentives. In order to fulfil their monetary needs, they move to others entities. Apart from this, improper
working environment is another factor that impact on employee’s retention rate to great extent. All these elements are creating pressure on the organization and their overall working performance is getting affected. All these
factors are related with the HR practices and policies. This investigation is being conducted to know main issues in HR practices due to which employee turnover is increasing. By this way manager will be able to make necessary
changes in the practices so that overall performance of the company can be improved. To run business effectively it is important to follow employment policies significantly. Another reason of conducting this study is that people
are dissatisfied with the working culture of companies. Through this investigation employment policies and other HR policies will be explained properly so that companies can enhance satisfaction level of its workers by making
necessary modification in its practices and policies.

HR policies and practices impact on the employee retention rate to great extent. Performance appraisal is one of the main policy of the company in which they have to give promotion opportunities to employees. If
organization does not measure their performance effectively them people feels demotivated and they think to leave their jobs soon. By this way employee turn over get increased that impact negative on the working performance of
entity. HR policies are based on the employment law. Organization make their policies as per the legal guidelines. So if there are practices that demotivate the people then staff understand this concept and they accept the changes
easily. For example if government make changes in the working hours then firm has to follow their norms. In this condition workers understand the practices and they support their organization. Thus, it does not impact on
employee retention rate. Companies communicate with their staff members every necessary changes that enhance their moral by this way they stay in the workplace for longer duration. That impacts positive on the working
performance of the workers as well.
Research project specifications
One of the important chapter in the research project is research methodology. Researcher has to select suitable tool for conducting the investigation in effective manner. Selection of appropriate technique is beneficial
for the scholar because by this way individual become able to gather all relevant information about topic effectively. In the present topic impact of HR practices and policies on employee retention ratio scholar will take support of
interpretivism philosophy It would be the best option because that will assist in carrying out study in right direction. In order to develop better understanding about the topic individual will use primary and secondary source for
data collection. Both these tools will be beneficial in developing understanding about topic. Researcher will use the descriptive research design, in which investigator will take support of theories and models. Individual will use
questionnaire technique and will involve managers of the Tesco in the study. Managers are the right persons those who can give good information about HR policies and practices and its impact on employee retention ratio.
Sample size will be 10 managers of Tesco. For data analysis researcher will take support of thematic analysis tool as it is qualitative study thus, this tool will be beneficial in analysis of data effectively All these tools and
techniques are helpful in getting optimistic results to the scholar. With the help of this technique investigator can get to know real impact of HR policies and practices on employee retention ratio.
References
Buller, P. F. & McEvoy, G. M., (2012). Strategy, human resource management and performance: Sharpening line of sight. Human resource management review. 22(1) pp. 43-56.
Hendry, C., (2012). Human resource management. Routledge.
Jiang, K. & et.al., (2012). How does human resource management influence organizational outcomes? A meta-analytic investigation of mediating mechanisms. Academy of management Journal. 55(6). pp.1264-1294.
Renwick, D. W., Redman, T. & Maguire, S., (2013). Green human resource management: A review and research agenda. International Journal of Management Reviews. 15(1). pp.1-14.