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Research in Business Ford Motor Company
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Added on 2020-04-01
Research in Business Ford Motor Company
Added on 2020-04-01
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Running head: RESEARCH IN BUSINESS 1Research in businessNameInstitution
RESEARCH IN BUSINESS 2Research in BusinessFord Motor Company, is a company that has had its fair share of business success and downfalls. Technically, a standard scenario is that in which an organization achieves a comfortable and front-line lead regarding competition. As a result, its media coverage goes up aswell as shareholders satisfaction is also on the rise. However, most of the time complacency will set in and in return, this will the projected continuous improvement that is vital for growth. In theworst case scenario, the company will lose its vision, and this results in the most talented people leaving first, and soon enough brokenness abounds. One primary ideology that Ford motors haveheld on to is the idea that staying competitive requires more than the concept of improving numbers. The problem is also not embedded on declining sales, negative cash flow, slumping profit margins and rising debt levels. Some of the important aspects that have been pointed out by the automobile giant enterprise are the variables of employee turnover rate which in this case will be analyzed as the first variable and performance parameter which is the second variable. The paper will in an in-depth analysis examine the correlation between employee turnover rate and performance parameter in Ford Co. in the last 5 to 10 years. Computation of numerical calculations and data analysis will also be used in support of the conclusions found. Theoretical, as well as empirical research, points out that there indeed exists a perfect negative correlation between employee retention rates and a performance parameter. Subsequently, this simply means that an increase in variable x, let’s say in this case employee turnover rate is associated with a decrease in variable y which is the company performance. Employee turnover can be explained in different dimensions, at times, it is as a result of an attraction of a new job, or they are pushed due to a series of dissatisfaction or the push and pull factors (Chen, Feldmann & Tang, 2015). Technically, the importance of maintaining qualified
RESEARCH IN BUSINESS 3employees for the general success of the organization is a concept that is well versed with Ford Co. The theory of human capital by Becker is well versed in indicating the relationship between the two variables. However, one of the challenges that are particularly on the increase in the organization is the increase in the interdependence of various social actors and the society in general. Simply put, this means that social relationships and self-initiative of employees regarding anticipation and implementation of changes are gaining more grounds not only in the organization but across the automobile industry (Lee, Hom, Eberly & Li, 2017). In the same perspective, losing employee tends to be more detrimental to enterprises. The results of the investigations in Ford Motors agreed with previous assumptions that there is a strong negative correlation that indeed exists between worker turnover and the performance level of the institution. Ford motors have been classified as one of the organizations in the automobile industry with amongst the lowest employee turnover trend. Drawing from a relevant secondary material, more light can be shed in attempts to explain the association between the two variables. More recently, Shaw, Gupta, and Delery (2005) pointed out that the relation between the turnover and performance parameter is not linearbecause negative effects are attenuated as the rate of turnover increases. Technically, this simply means that turnover rates are technically more harmful at the start of the curve than it is at the end of the curve especially with high indicators. However, the management of Ford Co. is also making attempts to examine whether the relationship between the two variables is always negative (Purl, Hall, & Griffeth, 2016). Through this, they are mitigating towards examining more positive dimensions like discussing the organizational, social, economic and psychological effects (Cascio, 2014). From the results of this process, the company found that high rotation
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