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Employee Retention and Productivity: A Study on Marks and Spencer Company

   

Added on  2022-12-23

16 Pages3387 Words53 Views
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PROJECT REPORT
Employee Retention and Productivity: A Study on Marks and Spencer Company_1

Table of Contents
INTRODUCTION...........................................................................................................................3
Literature review.........................................................................................................................4
Research methods........................................................................................................................6
Findings............................................................................................................................................7
Employee retention is issue for company...................................................................................7
Employee retention boost organisation growth.........................................................................11
CONCLUSION, EVALUATION AND RECOMMENDATIONS..............................................12
REFERENCES..............................................................................................................................14
Appendix........................................................................................................................................16
Employee Retention and Productivity: A Study on Marks and Spencer Company_2

INTRODUCTION
Background
Employee retention is denoted as sustain work force in organisation for long time. This
means that employees in company are not leaving the organisation for long time. The issue of
employee retention demonstrate that company is addressing high employee turnover rate. This
means that employees are not satisfied with the working culture and environment of the
organisation (Hassan and et.al., 2019). Marks and Spencer Company is associated with the retail
sector. Company was establsihed in the year 1884 by Michael Marks and Thomas Spencer. The
organisation is facing an issue of employee retention which further restrict the organisation to
reach the best level of work efficiency.
Aim:
To analysis about the employee retention issue at work place and also on productivity. A study
on Marks and Spencer Company.
Objectives:
To understand the concept of employee retention at work place.
To evaluate different methods to overcome employee retention issue at Marks and Spencer
Company.
Employee Retention and Productivity: A Study on Marks and Spencer Company_3

To identify employee retention as an issue in respect to productivity at Marks and Spencer
Company.
To recommend against the possible challenge associated with the employee retention issue at
work place.
Research Question
Q.1) What is the meaning of employee retention at work place?
Q.2) What are the different methods used to overcome employee retention issue at work place?
Q.3) How employee retention issues impact over organisation productivity?
Rationale
This project will be useful for Marks and Spencer Company management. Other
companies will also be a key stakeholder in context to this study.
Significance
This research or study is conducted due to the company is addressing an issue related to
employee retention. This is the issue arises when employees are not capable enough to sustain in
the organisation for long time (Olagbaye, 2020). Employee retention directly impact over
company's productivity and restrict the profitability of business entity.
Literature review
As illustrated by Aguenza and Som (2018),retention of employees is a major concern for
HR professionals and business executives. Employees have expectations at the time of joining
the organisation and during working at the same. At the time of induction, employees generally
have an expectation that they would be made comfortable by introduction with team members,
the managers and other staff. This sets a familiarity tone for them. The employee expectations
are regarding the salary, incentive structure, roles and responsibility assigned. As spoken by Ma,
Mayfield and Mayfield (2018),these are some of the primary needs of employee to be addressed
by HR function. The employees also have expectations regarding hygiene factors present at the
organisation. If the company keeps hygiene factors in place with regular housekeeping measures,
the employee would be motivated to come to the work place. The company being organised in its
sitting arrangement offering facility of flexible seating positions is another factor which helps
keep morale of employees high and thus the productivity. The Kundu and Lata (2017) ays that
as time progresses change comes in employee expectations like performance appraisal,
Employee Retention and Productivity: A Study on Marks and Spencer Company_4

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