Impact of Staff Motivation Strategies on Employee Retention: A Study on TESCO
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This research study focuses on the impact of staff motivation strategies on employee retention in TESCO. The study aims to identify suitable ways to enhance the overall motivation level of the employees in a significant manner.
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Table of Contents Chapter One: Introduction...........................................................................................................................3 Background to the research:....................................................................................................................3 Organizational background......................................................................................................................3 Significance of the problem.....................................................................................................................3 Statement of purpose:..............................................................................................................................4 Statement of the problem:........................................................................................................................4 Aim:........................................................................................................................................................4 Objectives:...............................................................................................................................................4 Questions.................................................................................................................................................5 Chapter Two-Literature Review:.................................................................................................................5 Chapter three-Research methodology..........................................................................................................5 Research Design......................................................................................................................................5 Data Collection Methods.........................................................................................................................5 Data Collection Instruments....................................................................................................................5 Sampling.................................................................................................................................................5 Reliability................................................................................................................................................5 Validity....................................................................................................................................................5 Ethics.......................................................................................................................................................5 Limitations of the research......................................................................................................................5 Chapter Four: Data analysis and Findings...................................................................................................5 Chapter Five: Conclusion and recommendations.........................................................................................6 References...................................................................................................................................................7
Chapter One: Introduction Background to the research: Presently, motivation is highly important in order to encourage the workers to perform their duties efficiently. Motivated employees are the assets of the company as they have the willingness to perform the assigned work in profound manner. In addition, motivation provides a reason to the employees so that they work in a particular way(Al Badawy, Fahmy and Magdy, 2017). By motivating workforce, a company can easily get the desired work done in significant manner. Here, motivation is directly associated with retention of employees. Further, motivation is a process of guiding, encouraging as well as managing particular behavior of workforce. To perform the assigned duties appropriately, it is highly imperativeto have the willingness. Here, motivation is helpful in developing the willingness among the workforce. Motivation creates the positive mindset of workers so that they get ready to perform the organizational tasks in better way. Retention of employees is highly important in order to maintain a positive image of company in market place(De Sousa Sabbagha, Ledimo and Martins, 2018). For this purpose, the business entities are likely to adopt different motivational strategies. Motivation is a crucial business function to stimulate the people so that they take appropriate actions to accomplish the pre-defined goals. In business context, motivation is important in order to encourage the workforce to perform assigned work with greater efficiency. Here, motivated employees are likely to put their best for the success and future betterment of the organization. A motivated workforce contributes in increasing output of the company. Motivation strategies play a crucial role in retaining workforce for longer duration. Here, motivation is directly associated with retention of employees. Further, motivation is a process of guiding, encouraging as well as managing particular behavior of workforce. To perform the assigned duties appropriately, it is highly imperative to have the willingness. Here, motivation is helpful in developing the willingness among the workforce. Motivation creates the positive mindset of workers so that they get ready to perform the organizational tasks in better way.If employees are motivated, they are likely to stay within the company for longer period of time. Monetary and non-monetary are two major methods of motivation. In context of monetary methods, the business managers are likely to adopt different ways such as incentives, bonus,
increment in salary and more In present time, non-monetary methods are also highly important to keep the employees inspired. In this regard, organizations are likely to follow different strategies such as appreciation, appraisal, promotions and more. By following such strategies, it is possible to retain the employees with company. The present study is based on impact of motivation on retention of workforce. This will also help in identifying suitable ways to enhance the overall motivation level of the employees in significant manner. Organizational background The present study is based on TESCO that is a multinational supermarket chain. It offers groceries and varieties of general products such as mobile phones, accessories, clothes and more. Founded in the year of 1919, TESCO was started by Jack Cohen as a small shop to sell the surplus groceries. Now, the organization has presence at nearly 13 countries. In addition, they have been diversified the business in different field like finance, retailing, tale-communication etc. Revenue of the entity is growing rapidly. The entity recorded 6 % growth in revenue for the fiscal year of 2021-22(Tesco reported 6% increase in revenue for fiscal year 2021-22). Significance of the problem Motivated employees are likely to stay within the business entity for longer period of time. It minimizes the turnover of workers and also ensures the future success of the entity. In the present context, the problem is related with lower retention level of workforce. It is important to address the respective problem in order to identify the appropriate strategies to enhance the overall retention and motivation level of workforce. Statement of purpose: The main aim of current research is to develop the understanding regarding the concept of motivation within the organization. It helps to know how motivation is useful in improving the morale of workforce. Further, the study is useful in terms of structuring appropriate strategies to motivate the employees in significant manner.After undertaking the study, the researcher will able to assess the impact of motivation on the retention of employees within the company. In personal context, the study will also make the investigator enable to enhance the communication, presentation and other such skills to ensure growth & success in the future period of time.
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Statement of the problem: Nowadays, retention of employees is not easy as they are likely to switch from one company to other in search of better growth opportunities. High employee turnover put a direct impact on the existing image of an entity. To retain the workforce for longer duration, it is imperative to keep them motivated. For this purpose, it is imperative to motivate and encourage the workers by using effective strategies. In the present context, the problem has been identified in motivating the workforce effectively that will directly create issues in retention of workforce significantly. Aim: “To identify the impact of staff motivation strategies on the retention of employees within the organization”. A study on TESCO. Objectives: To acknowledge the concept of staff motivation within organization. To identify the impact of staff motivation strategies of TESCO on the retention of employees within the company. To recommend the ways to enhance the employee motivation level within TESCO in order to retain employees for longer duration. Questions What is concept of staff motivation within organization? What is the impact of staff motivation strategies of TESCO on the retention of employees within the company? What are the ways to enhance the employee motivation level within TESCO in order to retain employees for longer duration? Structure of dissertation: Chapter 1: Introduction:This is one of the important sections of the overall research. It includes overall information about the research along with aims & objectives of research. This chapter basically provides summary regarding the research project. Additionally, this will also include scope of project.
Chapter 2: Literature Review:This is the second chapter wherein secondary information is included regarding a specific topic. Here, the information includes from articles, journals and more. Through this, it is possible to fill the gap in research in an efficient manner. Chapter 3- Methodology:This is considered as one of the most important chapters of research project that includes tools, techniques as well as methods of data collection & analysis. Further, it covers research philosophy, approaches, strategy, data collection and analysis methods and more. The main objective of research methodology is to collect and analyze the data to reach at meaningful conclusion in significant manner. Chapter 4- Data Analysis and Findings:Here, the collected data is analyzed using appropriate tools. In this, potential outcomes are gathered out of the research so that effective decisions can be made in future period of time Chapter 5 Conclusions and Recommendations:This is the last but important chapter of research for completing the dissertation in timely manner. It includes summarized information of the entire study that will assist the reader in identification of aims & objectives in an efficient manner. Chapter Two-Literature Review:
Chapter three-Research methodology Research Design Data Collection Methods Data Collection Instruments Sampling Reliability Validity Ethics Limitations of the research Chapter Four: Data analysis and Findings Chapter Five: Conclusion and recommendations
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References Books and journals Al Badawy, T.A., Fahmy, V.M. and Magdy, M.M., 2017. Can employer branding raise the retention and motivation of Egyptian employees?.Journal of Competitiveness Studies,25(3/4), pp.250-265. Books and journals De Sousa Sabbagha, M., Ledimo, O. and Martins, N., 2018. Predicting staff retention from employee motivation and job satisfaction.Journal of Psychology in Africa,28(2), pp.136-140. Online Tesco reported 6% increase in revenue for fiscal year 2021-22.[Online]. Available through :< https://www.retail-insight-network.com/news/tesco-results-2021-22/>