Reviewing the Literature

Running head: REVIEWING THE LITERATURE
Reviewing the Literature
Name of the Student:
Name of the University:
Author’s Note:
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1REVIEWING THE LITERATURE
Article 1
Full reference of the Article:
Hutchings, K., De Cieri, H., & Shea, T. (2011). Employee attraction and retention in the
Australian resources sector. Journal of Industrial Relations, 53(1), 83-101.
Objective and research question
1. What are the perceptions of managers who deal with human resources regarding
organizational practices in finance sector?
2. What are the challenges they have to face in retaining as well as attracting employees
to develop good relations with finance sector?
3. What are the practices undertaken by organization that has helped in implementing
good employing practicesin terms of skilled recruitment?
4. What is the necessity on part of employees to increase their motivation towards
working in financial sector?
Method
A survey was conducted in a particular financial year of 2009 that provides a very detailed
analysis on perceptions of employers towards facing challenges from various workplaces in
the financial sector and various strategies are adopted by organizations in order to retain
workforce/ employees. It has been examined through this research how organizations would
be able to inculcate attractiveness of financial sectors through good practices towards
employment opportunities.There are certain researches on employment relations based on
which strategic management of resources as well as financial performance gets affected and
that can be resolved through appropriate research as well as understanding.
Findings and discussion

2REVIEWING THE LITERATURE
Researches based on Australian financial sectorin terms of human relations has helped in
drawing a strategic link in relation to management as well as performance of various business
firms. A critical analysis as a result of research study suggests that on following a very
systematic approach towards creating good workplace in association with good working
performance acts as a necessary resource that would allow implementation of various
strategies towards corporate sector and help in achievement of suitable profits for the
economy. Organizations like banking and insurance companies in Australia need to involve
good employee engagement so that they are able to create a positive experience for
employees in terms of workplace. A system associated with greater involvement of people to
their workplaces (HIWS) helps in organizing various form of work as well as employment
practices that would assist in relatingto deployment, consultation, recruitment, development
as well as retention of employees. The following samples as well as resources were utilized
considering databases of Australian stock exchange companies and it was found that 56
organizations responded at a rate of 14% and some of them have even provided information
regarding increasing rate of employee turnover as a result of huge work pressure. Many of
organizations that usually belong to financial sector have also thrown light up on non-
existence of union or they have been present in only 10% among all the organizations
therefore employees most of the time lack proper motivation.
Conclusion
As a result of reviewing the article it has been able to identify that several challenges are
faced by the employees in terms of ability to retain its employees and basic reasons behind
this is that alterations towards legislations associated with workplace that accounts 76% of
the risks, 69% of the reasons is due to downturn of economy in financial market and another
57% is because of lack of appropriate skills that would enable employees to give their best to
the job.

3REVIEWING THE LITERATURE
Contribution of my article towards Essay 3
This article contributes a great deal ofopportunities towards employee engagement and this
would help further in researching methods that would reduce turnover rate of employees.
Certain form of strategies such as providing employees with remunerations for example extra
pay for overtime work, framing plans towards purchasing shares, extra payment in the form
of superannuation for serving the company for more than two years of service would attract
employees. Provision of certain extra services like free assistance programs for employees in
terms of financial or regular health check-up, gym and parking facilities as well as a smooth
on-going work culture, acknowledgement of diversity of employees in workplace may help to
maintain a good strength of employees in finance sector.