HURM07001: Strategies for Employee Retention & Productivity

This report examines the crucial role of employee retention in enhancing business productivity. It highlights the importance of retaining skilled employees, reducing turnover, and fostering a positive work environment. The report discusses various strategies such as encouraging employee creativity, fostering a healthy workplace, appreciating employee efforts, providing better leadership, and offering training and development opportunities. It also emphasizes the significance of feedback mechanisms for continuous improvement. The reflection section details the writer's learning process, challenges faced, and improvements made in research, time management, and critical analysis skills. The document provides a comprehensive overview of how effective employee retention strategies can lead to increased productivity, improved customer relations, and a stronger brand reputation.

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT ESBM

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Retention......................................................................................................................................3
Importance and benefits of retention for business productivity..................................................3
Ways for the organisation to improve the employee retention....................................................5
Reflection part.............................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCE..................................................................................................................................9

INTRODUCTION
Employees are the key elements for an organisation and forms the core by increasing the
profit rates and expanding the boundaries. For the smooth and successful running of an
organisation the retention of highly skilled and talented employees is very important which helps
in the growth and development of organisation. Different approaches for the retention of
employees are adopted by the organisation such as proper training and healthy communication to
focus on the problems and issues faced by the employees along with proper guidance and
mentoring programmes will help in the retention of the employees (Nasir and Mahmood, 2018).
This report will include the retention of employees within the organisation with the use of
motivational theories and the role that motivation plays in building self-confidence of the
employees. Further it will highlight the positive and negative factors influencing motivation
followed by reflection part.
MAIN BODY
Retention
Retention refers as the continue possession, it is the ability to hold something. It is the most
common term in the business as they always want to retain their position, their employees and
intellectual properties which makes them strong in their market field. Now a day’s organisations
are facing major problems in their employee retention, as they are facing high turnovers due to
the employee’s dissatisfaction with the organisational policies (Yildiz and et.al 2020). It is
important for the businesses to provide the better work place environment which ensures the

retention of the employees and tries to provide them better opportunities for the future so that
they always remain connected to the firm and complete the works in a efficient manner.
Importance and benefits of retention for business productivity
Effective retention of the employees is always a plus point for the businesses to compete in their
market field. It helps in preventing from the losses. It is analysed that the good retention at the
workplace always ensures that the employees are more engaged with their work and feels
motivated towards their work. Thus it is also found that the engaged employees are able to
enhance the customer relationship with the company as buy providing the better consumer
experience with suitable services (Kamalaveni, Ramesh and Vetrivel, 2019). Along with the
employee retention business always aims to retain their customer which is only possible when
they provide the better services and product. It all done with the employee productivity, if the
business are able to provide the better work place environment then it ensures the productivity in
the operational tasks as well. Some benefits of the employee retention are as follows:
Cost reduction:
As companies invest on the recruitment process for the candidates, and invest lots of
financial assets on the training and on boarding experience. Instead of investing on such
company can proceed to increase their focus on their potential employees and keep the around
which will help them in reducing the costs. As if they constantly hire the candidate will take
more financial asset as well as time (Rakhra, 2019). Rather than investing on new recruitment
they can begin to invest on their employees as to provide them training sessions to increase their
knowledge and skills.
Improvise the customer relation:
As the consumer and external clients always notice that the company have the highest
rates in turnover. This brings the concern as customer do not want to make purchase from such
organisation who do not have the positive work culture. Thus when the businesses keep their
potential employees around it will enhance their productivity, as well as able to provide the
better services to the customers to repeat the sales or to maximise the revenues.
Good brand reputation:
When the potential employees are with the company then it ensures the positive operate of
the business. It can be a good and better relations with the consumers that helps in creating or
increasing the brand awareness in the market. Thus having a employee retention benefits the

company with enhanced profits, competitive edge and the good brand familiarity.
Increases productivity:
Persistent turnover always causes a several problems, it is due to the poor work place
culture where the management is not transparent and employers always uses biases. It the major
reason which makes the employees to not stay with the company, and they started looking for the
other options in the market. As efficient employee retention helps the organisation to prevent
from such major losses as they need to focus on increasing the employee engagement with the
company’s resources. As engaged employees are more likely to lay out the work in a productive
manner and able to develop the better customer relationship (Bibi, Ahmad and Majid, 2018).
Ways for the organisation to improve the employee retention
Employee turnover is the main issues which causes the barriers for the organisation to increase
their market share or to run their business smoothly. There are many ways which the businesses
can implement to improve the employee retention:
Encourage the employee creativity:
It is found that many organisation states that they value the workers creativity but still
faces the employee turnover. It is due to the less job satisfaction and lack of motivation found in
the employee. Thus it is very important to recognise the efforts of the employees as to provide
them opportunity to grow and shows their creativity in the work. It is the responsibility of the
employer to monitor the work of the employees and to encourage them to lay out the task with
greater efficiency (Diah, Hasiara and Irwan, 2020). Also to give the employee chance to think
for some time as to brainstorm the ideas so that they put their maximum into the task.
Foster healthy work place environment:
It is the most demanding elements of the work place as to develop the environment which
ensures the productivity and aims to create the chances for the innovation which makes the
business stand out from the highly competitive market. Business always ensures to provide the
better work place environment so that employee always wants to work for the company. It is
found that most of the company does not have the proper work place environment which means
that employee do not respects each other often conflicts can be seen between the employees.
Such organisations are not able to accomplish their goals and objectives. Thus when there is
fostering the healthy work place, organisation need to allows the employees to take part in the

decision making process. Also to provide them opportunity for their growth so that they will
retain to the business.
Appreciate the employee efforts:
When the efforts are recognised and appreciated it ensures the better retention of the
employee. It is not necessary that this appreciation can come up with only monetary but also
linked with the tangible rewards. As employee always look for the appreciation which is offered
by the employer for their better work, it boosts their morale to further complete the work with
good efficiency. Workers always retain to the business when their efforts are countable, thus it is
essential to appreciate employee, for such firms can proceed to conduct the activities where they
distribute the rewards to the employees for their efficient work. They can also begin to provide
the flexibility in work and to allow them to take leaves, which helps in changing their mind and
make them able to work for the company for longer period.
Better leadership:
Leadership is also another factor which plays an significant role in retaining the
employees. As if the work culture do not have the better leadership then such firm always suffers
in the productivity and often faces the highest rate in the employee turnover (Fahim, 2018). It is
also found that some organisation have given the position to the employee who are not able to
take that responsibility in such they uses biases and to provide the support to their favourite
employees such behaviour by the employers cause the dissatisfaction among the employee and
they feel or decided to move out from the organisation. Thus it is essential to give the
responsibility to the person who are able to manage the work and keeps focus on motivating the
employees, thus leaders also focus on developing the professional as well as personal relation
with the employee to provide them moral support. It helps the organisation to keep their potential
employees with them.
Training and development opportunities:
Employee always look for their growth as they want that their organisation will provide
them better opportunity to sharpen their skills and knowledge. Such training sessions is also
important for the businesses to promote the employee productivity which is beneficial for them
to accomplish their goals and objectives. Therefore, with this company can be able to retain their
potential employees, such activities will help them in fostering the environment which leads to
forward direction which also benefits employee own goals as well as company’s goals.

Motivates employee for the feedbacks:
Feedbacks at work place always plays an significant role with this organisation is able to
keep on improving their internal as well as external factors. It is important for the organisation
to foster the feedback culture as to allow the employee to give feedbacks that will helps them in
making changes (Melhem, 2019). It is also important for the firm to ensure that their asking for
the feedback do not scared the employees as loss of job, for such it is essential for them to
comfort the employees with better conversation so that they do not feel nervousness when giving
the feedbacks and all. Such activities helps in retaining the employees for business.
Reflection part
While writing this report I came across many new different topics on which I had no
information. At starting, I got nervous and could not understand how to organize my work more
efficiently that will help in the time management and through which I can split my work
accordingly. Lack of proper information on the topic made me very nervous which increased my
involvement in the group discussion with my mates. This helped me to find the right matter and
understand the topic very easily. Regular discussions with my teachers helped me to organize my
work more effectively as earlier I was not able to arrange and set the tasks of writing, researching
properly which increased the pressure on me, and I was finding it very hard to submit my work
on time (Ejubovic and Puska, 2019). The collaborative learning during the group discussion
activity and integration activities of discussing queries with the tutors helped me to easily write
the report with proper explanation of each topic. At the starting of the report I didn't read all the
instructions properly on what to include in the introduction and what points are needed to be
highlighted in the report. Due to which I included and explained the wrong topics in the report
and after discussing with my mates I found that wasted so much time by not reading all the
instructions properly. This made me aware to improve and focus on reading each topic carefully
along with making important notes on the topic which helped to me to easily access the
important points through and manage time easily. The notes saved my time which I earlier
wasted in unnecessary writing and researching.
During the report I was not able to find the right sources to right my topic as I did not read the
topic well. I re read the topic to understand it better by making notes and group discussion
activities which improved my decision-making skills as I was able to decide what is right content

for my report which helped. My critical analysation skills improved as I made use of notes
regularly by revising them properly and timely.
The decision-making skills helped me to improve my thinking skills which led to solve
problems more easily by taking quick actions. Interaction with my mates and tutors boosted my
self-confidence as it helped me to bring improvement in my week areas and think critically with
my own ideas that I implemented in the report to avoid the chances of plagiarism. Taking part in
teamwork made me active learner by sharing ideas and knowledge and bring improvement in the
weak areas (Rahman, 2019). I analysed that I take more time in organizing and understanding the
topics which puts burden on me at the end movement due to which I get stressed and everything
goes haywire. This results in the late submission of my projects which affects my academic
performance. I developed the skill of reflective learner during this report I found out different
alternatives to manage time properly by applying my own ideas in the report to make it more
presentable.
CONCLUSION
From the above report it is concluded that retention of employees within the organization is
very important to fight the stiff competition in the business world. The role of various
motivational theories is explained and the importance of motivation in the retention of
employees is highly important. The organisation can bring changes in its policies to decrease the
work load of the employees by providing them flexibility in working hours. Extra bonus should
be credited to the employees who work for extra hours in the organisation. Promotional schemes
should be regulated by the organisations to build the self-confidence of the employees and give
them chance to work at higher positions with continuous development. Proper training helps in
retaining the staff as they are able to use their full potential by developing new skills which are
helpful in operating new machineries within the organisation.

REFERENCE
Books and journals
Bibi, P., Ahmad, A. and Majid, A.H., 2018. HRM practices and employee retention: The
moderating effect of work environment. In Applying partial least squares in tourism and
hospitality research. Emerald Publishing Limited.
Diah, A.M., Hasiara, R.L.O. and Irwan, M., 2020. Employee retention of pharmaceutical firms
in Indonesia: Taking investment in employee development and social and economic
exchange as predictors. Systematic Reviews in Pharmacy. 11(1). pp.564-572.
Ejubovic, A. and Puska, A., 2019. Impact of self-regulated learning on academic performance
and satisfaction of students in the online environment. Knowledge Management & E-
Learning: An International Journal. 11(3). pp.345-363.
Fahim, M.G.A., 2018. Strategic human resource management and public employee
retention. Review of Economics and Political Science.
Kamalaveni, M., Ramesh, S. and Vetrivel, T., 2019. T. A Review of Literature on Employee
Retention. International Journal of Innovative Research in Management Studies
(IJIRMS). 4(4). pp.1-10.
Melhem, I.I.A.B., 2019. The Mediating Effect of Job Satisfaction on the Relationship Between
Belongingness and Challenging Work Towards Employee Retention (Doctoral
dissertation).
Nasir, S.Z. and Mahmood, N., 2018. A study of effect of employee retention on organizational
competence. International Journal of Academic Research in Business and Social
Sciences. 8(4). pp.408-415.
Rahman, M., 2019. 21st century skill'problem solving': Defining the concept. Rahman, MM
(2019). 21st Century Skill “Problem Solving”: Defining the Concept. Asian Journal of
Interdisciplinary Research. 2(1). pp.64-74.
Rakhra, H.K., 2018. Study on factors influencing employee retention in companies. International
journal of public sector performance management. 4(1). pp.57-79.
Yildiz, D. and et.al 2020. A spherical fuzzy analytic hierarchy process based approach to
prioritize career management activities improving employee retention. Journal of
Intelligent & Fuzzy Systems. 39(5). pp.6603-6618.