Research Method Management : Marks and Spencer
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Added on 2020-06-04
Research Method Management : Marks and Spencer
Added on 2020-06-04
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RESEARCHMETHOD
Table of ContentsResearch Problem............................................................................................................................1INTRODUCTION...........................................................................................................................1Background information of organisation.........................................................................................1Literature review..............................................................................................................................2RESEARCH QUESTIONS.............................................................................................................3RESEARCH METHODS................................................................................................................3RESEARCH PLAN.........................................................................................................................5REFERENCES................................................................................................................................8
Research ProblemTo assess the impact of employee’s turnover on the profitability of business: A case study onMarks and Spencer (M&S)INTRODUCTIONIn the present era, there is huge competition among organisations as every firm needed toachieve excellent success in competitive business environment. For attaining this objective,company adopt effective strategies and practices through which it can perform better way withinthe market. Employees are those important assets for organisation which helps in achievingdetermined objective. In the absence of human resource, it is very difficult to address the targetof business. (Eijdenberg, Paas and Masurel,2015) Thus, it is very important for company tomanage human resources in such manner as they can retain within firm for long time. Thepresent report is based on the impact of employees turnover on the performance of businessenterprise with respect to M&S. For addressing this objective, researcher has applied qualitativeresearch techniques in the study by which research issue can be effectively defined.Background information of organisationM&S is one of the British multinational retailer headquartered in the city of Westminster,London. The company has major aim to produce high quality of product and services for itscustomer and earn maximum profitability in the retail sector. For achieving this objective,company uses several strategies and practices that can support it in addressing issue. The citedventure operates its business into two segments that is UK and international. This venture isengaged in delivering own brand food, clothing and home product in its stores and online both inthe United Kingdom and internationally (Deshpandé, Grinstein and Ofek, 2013). As per thesearch, it has been found that company is facing the issue regarding employees turnover as itsworkforce is not satisfied with existing reward system and business practices due to which theyare leaving the corporation. It is major issue of M&S in the present time due to whichprofitability and business performance is negatively influenced. Thus, the present study is basedon analysing the impact of employee’s turnover on the business performance and profitabilityand identifying the strategies through which employee’s turnover can overcome in an effectiveand efficient manner.1
Literature reviewAccording to the view of Crossley, Cooper and Wernsing, (2013) employees play a verysignificant role in the business enterprise by which it can achieve the determined objectives. Inthe absence of human resources, corporation cannot sustain in the market and cannot carry outbusiness functions and activities. It is very significant for management to understand the actualrequirement of personnel and deliver services accordingly. In this aspect, employee’s motivationis the best practice by which company can retain the personnel within company for long time.Motivation is an inside vitality among the workers which aid them in enhancing their executionand efficiency. With the help of motivation, employees can get ready to step up with regard tothe organisation for achieving the objective. It is a level of vitality, duty and innovativeness thatan association's faculty convey to their activity. An all-around spurred personnel are extremelybasic piece of the organisation which help in accomplishing the decided goal inside. Employee’smotivation is a factor that reason a worker to seek after work objective and target. It helps inmeeting due dates and producing extraordinary criticism from clients. HR utilizes motivationalstrategies to lift the spirits in office with the goal that a situation of energy is felt. This work is anangle to keep up a stream of charge through the chain of importance of association. Instraightforward words, one might say that representative's motivation is a procedure under whichhigher specialist have connected with a few practices energising workforces so that they canaccomplish their decided target.In the opinion of Collison and Marchesseault, (2016) while company is facing issueregarding employees turnover, then it is very important for HR manager to focus on the reasonbehind this issue. HR manager should identify the actual issue within workforce so that they canovercome this problem within company. HR manager should also adopt such effective practices,strategies and policies that can assist management in overcoming the employee’s turnoverproblem and motivating workforce in an effective and efficient manner. According to the viewofColeman and Ringrose, eds., (2013) company should adopt employees motivation practice andtechnique through which management can effectively fulfil the demand of workforce and retainthem within business unit for long time. As per the perspective of Cherian and Jacob, (2013)each worker have money related prerequisite for survive their life and satisfy fundamental needs.For satisfy their need they work and procure cash as far as pay and wages. While organizationgives extra reward, pay, motivators and so on then they will more rouse to get it. Fundamentally2
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