Impacts of Staff Motivation Schemes on Employee Retention in Mark & Spencer

   

Added on  2023-06-13

26 Pages7654 Words407 Views
Project Report
Part 02
Impacts of Staff Motivation Schemes on Employee Retention in Mark & Spencer_1
Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
LITERATURE REVIEW................................................................................................................4
Chapter Three: RESEARCH METHODOLOGY.........................................................................10
Research Approach....................................................................................................................11
Research Strategy......................................................................................................................11
Research methodology...............................................................................................................11
Research Tools...........................................................................................................................12
Sampling....................................................................................................................................14
Identify population and research site.........................................................................................14
Sampling strategy......................................................................................................................14
CHAPTER FOUR: DATA ANALYSIS.......................................................................................14
DATA INTERPRETATION.........................................................................................................16
Chapter Five: Conclusion, Recommendations, Implication for further research..........................23
Conclusion.................................................................................................................................23
Recommendations......................................................................................................................23
Implications for further research...............................................................................................24
REFERENCES..............................................................................................................................25
Impacts of Staff Motivation Schemes on Employee Retention in Mark & Spencer_2
INTRODUCTION
Research is the creative and systematic work undertaken to increase the stock of
knowledge and managing all functions. To conduct a research there is need to understand the
topic clearly and develop thoughts to attain positive outcomes. In other words, research is the
creation of new knowledge and use of existing knowledge in a new and creative way which can
help to generating new concepts, and methodology. The present report is based on impacts of
staff motivation schemes which is used to to employee retention that supports to improve
business productivity and profitability. Employee motivation is the level of energy, commitment,
and creativity where organization's employees brings to their jobs. Employees are the assets of
organization who understand the goals and give their contribution to complete the goals and
objectives. The present report covers case study of M&S that is large retailing organization,
selling different types and design of clothes and home products which supports to develop
organizational productivity. This involves aims and objectives, research methodology, literature
review, and others by conducting research properly.
Research Aims and Objectives
Aims
The aim of this research is the analysation of employee retention in Mark & Spencer and
how it is impacted by staff motivation.
Objectives
To develop understanding about the concept of employee retention and motivation.
To understand the importance of employee retention within Mark & Spencer
To analyse how staff motivation impacts employee retention in the context of M&S.
To recommend strategies to M&S which contributes in employee retention and
motivation.
Research questions
Q1. Does staff motivation concept help in employee retention for M&S?
Q2. What are the ways in which employee retention effective for M&S?
Q3. How staff motivation impacts on employee retention in context of M&S?
Q4. What strategies to M&S could be used to contribute in employee retention and
motivation?
Impacts of Staff Motivation Schemes on Employee Retention in Mark & Spencer_3
Rationale
Employee motivation is the main practice which is used by organization to satisfy their
staff and develop business performance. This is most important for company to understand
employee's demand and put efforts to resolve all issues. If employees are not motivated and
satisfied then it will be challenging for company to operate their business. The reason of
conducting present research is to know importance of employee motivation schemes and
strategies which can be used by management to motivate and retain their staff for long period of
time. This report will help to develop understandings and knowledge about staff motivation in
context to personal and professional aspects. To develop personal knowledge, researcher will
develop their communication, management, and interpersonal skills which can help to improve
performance. In context to professional, it helps to improve knowledge about motivation and
retention which is used to complete business activities and functions at the workplace.
LITERATURE REVIEW
To develop understanding about the concept of employee retention and motivation.
As per view point of Eisend (2019), Employee retention is the activity of people
attraction and retaining people at the workplace which supports to develop the organizational
performance. This is important for an organization to understand what is happening around and
how to get people work in an organization. If employees are enough motivated and satisfied then
would be an opportunity to retain people in organization and gets work done. Motivation is the
continuous process that used to initiate, guide, and maintain goal oriented behaviours which can
help to develop business activities. This reflect something is unique that allows people to gain
valued outcomes by improving organizational performance. In relation to M&S, management
mainly focuses on the employee retention level and strategies which are used to operate a
business effectively. This is the part of business planning formulated by management for the
purpose of arranging people and get work done effectively. This is the part of strategy which is
used by management to bring changes by reducing risk and putting efforts. Employee retention is
the key of meeting to organizational success by engaging people in survey and managing all
functions effectively. The management states that an organization should be focus on theory and
factor of motivation which uses to creating satisfaction level and attain higher productivity. The
motivation theories are used by chosen organization to create job satisfaction between people
Impacts of Staff Motivation Schemes on Employee Retention in Mark & Spencer_4
and attaining higher performance. This is a pathway which is used to change way of thoughts,
feeling, and behaving in order to complete the work and develop business activities.
To understand the importance of employee retention within Mark & Spencer.
According to Daniel (2018), Employee retention refers to ability of an industry to retain
its employees and managing work properly. The organization should have proper understanding
and knowledge about happenings and needs of people who ready to work collectively. This is
important for an organization to understand what their staff wants and how they could be
satisfied by organising and managing work properly. If there is lack of motivation and retaining
power then would be challenging to operate their business. In relation to M&S, importance of
employee retentions is defined below:
Cost reduction – The profitability and productivity of an organization mainly depends
on cost and its related activities which is used by business management for the purpose of
developing business. An organization needs many people who have good knowledge and skills
to perform their functions and activities. Employee motivation and retention is the main activity
that uses by organization for the purpose of arranging and managing people at the workplace that
leads to cost reduction. In relation to M&S, having good employees and motivation is used by
management which can help to retain people for long period and reduce the cost in selecting and
recruiting new employees that creates higher cost. Moreover, to provide training and
development programme to staff is another cause of increasing cost which could be control by
managers by retaining people for long period.
Morale Improvement – Employee morale is defined as practices to satisfaction, outlook,
and feelings of well-being where people ready to work continuously. Employees are those people
who gets ready to work and manage the functions properly. This is important for each
organization to understand what their staff wants and how they could be satisfied so that
employees could improve their morale and satisfaction level. In relation to M&S, management is
having major role as it understand needs of their employees and fulfil them effectively which can
help to develop business activities by improving morale.
Recruitment and training efficacy – Whenever there is vacancy in the organization
management are responsible to recruit the skilled and talented people who could understand the
work and contributes to complete the business activities. This is important for management to
understand how people would be satisfied and manage their functions in changing environment.
Impacts of Staff Motivation Schemes on Employee Retention in Mark & Spencer_5
This can help to bring changes in existing activity and attain the higher performance. In relation
to M&S, management identify the vacant position and uses retention and motivation practices to
develop business performance by filling vacant position and recruiting skilled people who
participates to organizational goals through bringing changes and accomplishing business
performance. Employee motivation is used to influence and attract the applicants and give them
opportunity to work continuously that supports to develop business performance.
Better customer experience – For an organisation customer experience matters a lot
which is used by managers to attain higher performance and productivity. This is important for
organization to focus on motivation and retention as number of people visit the stores and make
buying decision that leads to good customer experience and maintain good performance. In
relation to M&S, better quality of customer experience is being provided by management which
can help to accomplish and attain their goals. The manager of company is those people who
identify requirements and put their efforts to complete the business activities. The person should
have proper knowledge and skills which uses by managers of make feel comfortable and develop
organizational productivity.
Improved corporate culture – The culture of organization is needed for people who
works collectively and manage the performance. It has been seen that culture of employees is
different as they belongs to other country and place that could create challenge for organization
to arrange and manage the work properly. This is important for a business industry to create a
corporate culture and manners at the workplace that can help to develop organizational
performance by retaining people for long period. In relation to M&S, having different culture
and values could be challenging for management to operate their business regularly so that
training and development programme provided to people which leads to higher employee
retention and motivation effectively. This can help to develop business activities and
performance by managing all functions and satisfying people.
Increased revenues – Employee motivation and retention is the process of satisfying
people and retaining for long period that supports to develop organizational performance. An
individual should have proper information and knowledge to understand what their employees
and customer wants and how they could be satisfied so that products and services are provided
accordingly. It can be said that company can improve their performance by bringing changes and
Impacts of Staff Motivation Schemes on Employee Retention in Mark & Spencer_6

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