Impact of Staff Motivation Schemes on Employee Retention: A Case Study of Marks and Spencer
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This report investigates the influences of different staff motivation schemes to employee retention, with a case study of Marks and Spencer. It includes information about talent management practices, staff motivation schemes, and their significance in increasing performance and productivity.
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Table of Contents Title -Impact of staff motivation schemes to employee retention: A case study Marks and Spencer organisation........................................................................................................................4 INTRIDUTION................................................................................................................................4 LITERATURE REVIEW................................................................................................................5 RESEARCH METHODOLOGY.....................................................................................................7 Work break down structure..............................................................................................................9 Gantt chart......................................................................................................................................10 CONCLUSION..............................................................................................................................10
Title -Impact of staff motivation schemes to employee retention: A case study Marks and Spencer organisation. INTRIDUTION Talent management is very important and crucial part of business. This is significant for enhancing and improving business practices in significant manner. Talent management can be explain as the practice of business for attracting and retaining skilled and capable employees within the organisation (Liu and et.al., 2021). This is essential for increasing and improving business practices alongwith this desired goals could be accomplished desired goals. Chosen company for this report is Marks and Spencer. This is well established and known company that is providing high quality products and services in order to meet with the needs or wants of customers. This is public limited company that is conducting business practices in retail sector. This organisation is founded in year 1884 and founder of this company is Michael Marks and Thomas Spencer. Head office of this company is located at London, England, UK. This organisation is providing different types of products and services such as cloths, footwear, accessories and many more. This report includes information about talent management practices. This will assist in identifying staff motivation schemes to employee retention. Research Aims “Toinvestigatetheinfluencesofdifferentstaffmotivationschemestoemployee retention.” Case study of Marks and Spencer, UK. Research objectives To understand the concept of staff motivation. To determine different staff motivation practices that will lead to have influence over employee retention practices. To analyse the significance of staff motivation schemes in order to increase Marks and Spencer performance and productivity. Research questions What is the concept of staff motivation.
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What are different staff motivation practices that will lead to have influence over employee retention practices. What are the significance of staff motivation schemes in order to increase Marks and Spencer performance and productivity. Rationale – This research report is significant in order to analysed that the influences of different staff motivation schemes to employee retention. It is essential for organisation to consider effective staff motivation schemes in order to enhance employee retention practices.Motivation can be explain as the driving force of that will lead to enhancing and encourage performance level of employees with the motive of attaining desired goals. LITERATURE REVIEW To understand the concept of staff motivation. As per the views of.. (2021), Staff motivation can be describe as the business practices that is significant for motivating and encouraging employees. It is essential that Marks and Spencercompanyisconsideringeffectivestaffmotivationpracticeswiththemotiveof increasing and improving business activities. Staff motivation includes enthusiasm, energy level, commitmentaswellasamountofcreativitywhichisbringbyemployeeswithinthe organisation (Chen,Tansley and Chou, 2021). It has been determined that Marks and Spencer company needs to consider effective staff motivation practices with the motive of improving and increasing business activities. Motivation is the driving force which is helpful for engaging employees tofeels in tandem to the organisation objectives as well as empowered feel. It has been analysed that there are majorly two types of motivations such as intrinsic motivation and extrinsic motivation. Intrinsic motivation can be describe as the motivation that is gained by individual form themselves. This type of motivation occurs form within and this assist in encouraging and boosting capabilities of a person. Intrinsic motivation is refer as the desire to perform well at the workplace as this includes the results on the accordance with the belief system. Extrinsic motivation can be describe as the motivation that is stimulated by the person in external factors. This consist of rewards and recognition that is gained by a person to for the great work and performance in the organisation (Jooss and et.al., 2021). It is important for company to consider different factors that will lead to motivate and encourage employees to carry out business practices in effective and efficient manner.
To determine different staff motivation practices that will lead to have influence over employee retention practices. According to the views of... (2021), it has been identified that there are different types of staff motivation practices that is essential for influencing employees retention. This is very important part of organisation that is crucial for encouraging and boosting moral of employees. Staff motivating practices will lead to have major and positive impact on business performance and capabilities (Dzimbiriand Molefakgotla, 2021). Different staff motivation practices that could be consider by Marks and Spencer company in order to influence over employee retention practices. Incentives – This can be explain as the monetary payments that is provided by company to its employees with the aim of motivating them. It is essential for company to consider different types of incentives such as extra pay, paid leaves and so on as this will lead to motive employees to effectively work with in organisation. Reward and recognition– Company should should variouskindsof rewardsand recognition to its employees for the great work done by staff members. Rewards and recognition are significant for enhancing moral of employee as well as encouraging them to carry out business practices in more accurate manner. Positive working environment – This can be explain as the friendly and healthy working environment for successfully working with in organisation. It is crucial to create positive working environment for employees as well as encourage employee relationship so that they are motivated to effectively work with in organisation. To analyse the significance of staff motivation schemes in order to increase Marks and Spencer performance and productivity. As per the views of .. (2021), it has been identified that motivation schemes can be describe as the crucial for increasing performance and productivity level of business. It is essential for Marks and Spencer to consider different staff motivation schemes so that all employees are influences to used their full potential and skills to carry out business practices (Mitosis,Lamnisos and Talias, 2021). Significance of Staff motivation for increasing Marks and Spencer performance and productivity has been mention below in detail -
Less staff turnover – Significance of staff motivation schemes is that it will lead to less staff turnover.Due to effective and efficient motivational practices staff of respective company is more motivated to work within organisation and there will be less staff turnover. Increase employees relationship – Staff motivation schemes are significant and important in order to increase relationship between employees (Smit,Schultz and van Hoek, 2021). There is effective and high team work practices with in Marks and Spencer organisation that will lead to increase performance and productivity of the business. Improve quality of work – It has been analysed that work quality of employees will be significantly improve due to staff motivation practices. This is helpful for encouraging employees to increase their capabilities and potential to conduct required set of business activities in effective and efficient manner. RESEARCH METHODOLOGY This is refer as the process or procedure that is consider by researcher to successfully and effectively conduct research practices. This includes different ways and approaches of data collection and analysed that is significant to attaining desired outcomes. Research philosophy –This is refer as the belief according to which research practices needs to be performed. There are different research philosophy such as positivism, realism, interpretivism. In this research investigator is considering positivism research philosophy. Research approach - Qualitative research – This can be describe as the process of assembling, collecting, analysing as well as interpretation non numerical data that is required for attaining desired goals and objectives (Liand Jia Qi,2021). In this type of research concepts, theories and other information that can not be interpretation in numerical information has been analysed. Quantitative research - This is refer as the process of collecting as well as analysing the numerical data in proper and accurate manner. Quantitative research is effective for determining patterns, predictions, averages as well as cause effect relationship among the variables that is studies by the researcher.
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Research strategy – In this research, investigator is considering survey strategy in order to collect information and data from different respondents. Survey isone of the effective research strategy that will help researcher to find relevant information about the topic. Data collection – Primary data collection – This is explain as the practice of identifying and collecting original and accurate information that is never collected before. Primary data collection is effective for determining and analysing right data that is according to the required of the researcher as well as attaining in meeting desired outcomes. Researcher who collect primary data is known as the owner of the data and it helps in gaining appropriate information as per the requirement of the research. The main disadvantage of primary data collection is that it requires more cost and time to find the required set of information. Secondary data collection – This is refer as the procedures that is finding and collecting information for the data that has been collected in primary data (Tyskbo, 2021). Secondary data collection method is very effective for gathering information is less time and cost. In this data collection practice investigator will be collecting information books, journals and so on.
Work break down structure
Gantt chart CONCLUSION From the above report it can be concluded that talent management is essential part of business that is needed for increasing business performance. Staff motivation schemes helps in encouraging employees as well as boosting their moral to carry out business activities in effective and efficient manner. Staff motivation includes enthusiasm, energy level, commitment as well as amount of creativity which is bring by employees with in the organisation. It is essential for consider that different staff motivation practices in order to attain desired goals.
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Reference Books and Journals Liu, Y. and et.al., 2021. Talent management and the HR function in cross-cultural mergers and acquisitions:Theroleandimpactofbi-culturalidentity.HumanResourceManagement Review,31(3), p.100744. Chen, G.K.W., Tansley, C. and Chou, R.C.C., 2021. Towards liminality competence: a migrant's talent identity narratives for re-imagining global talent management.Journal of Organizational Effectiveness: People and Performance. Jooss, S.T.E.F.A.N., and et.al., 2021. Talent management innovations in the international hospitality industry.Bingley, UK: Emerald Publishing Limited. Ahead-of-print. Dzimbiri, G.L. and Molefakgotla, A.M., 2021. Talent management practices: perception of registered nurses in Malawian public hospitals.African Journal of Economic and Management Studies. Mitosis, K.D., Lamnisos, D. and Talias, M.A., 2021. Talent management in healthcare: A systematic qualitative review.Sustainability,13(8), p.4469. Smit,P.K.,Schultz,C.M.andvanHoek,C.E.,2021.Therelationshipbetweentalent management,transformationalleadershipandworkengagement:Anautomotiveartisan perspective.SA Journal of Human Resource Management,19, p.10. Li Qi, V. and Jia Qi, C., 2021. Talent Management Practices and Employee Engagement-A Study in Malaysian GLCs. Tyskbo, D., 2021. Competing institutional logics in talent management: talent identification at the HQ and a subsidiary.The International Journal of Human Resource Management,32(10), pp.2150-2184.