Impact of Employee Satisfaction on Company Performance

This business research project examines the impact of employee satisfaction on company performance, specifically focusing on staff turnover at Marriott Hotel. The report begins with an introduction outlining the significance of employee relations and the project's aim to develop a regulatory system for minimizing staff turnover. The research plan includes identifying issues, scheduling activities, and collecting data from both primary (questionnaires) and secondary sources (annual reports). The justification of methods highlights the effectiveness of primary data for gathering firsthand information and secondary data for understanding industry trends and the company's performance. The evaluation section discusses the strengths and limitations of the study, emphasizing the vastness of the topic but also the focus on developing a regulatory system. The project successfully meets its aims and objectives by gathering information and developing strategies to minimize staff turnover. The findings indicate staff turnover affects profitability, and the conclusion emphasizes the importance of addressing employee satisfaction for improved business outcomes.

BUSINESS RESEARCH PROJECT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
1.1 PROJECT PROPOSAL.............................................................................................................1
a) Aim and objective...................................................................................................................1
b) Research plan..........................................................................................................................1
c) Possible sources......................................................................................................................2
1.2 CARRY OUT APPROVED RESEARCH PROJECT...............................................................2
2.1 JUSTIFICATION OF METHODS SELECTED IN THE RESEARCH PROJECT ................3
3.1 EVALUATION..........................................................................................................................4
a) Strength and limitation of subject of the project.....................................................................4
b) The extent to which project meet with its aim and objective.................................................5
c) Plan and impact on review of the plan....................................................................................6
d) Finding and conclusion...........................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Employee relation plays significant role in the organization, it helps in improving the
performance of business.. If workers are contented with their work and like their workplace
environment then they perform well in the organization (Guilding, Lamminmaki and McManus,
2014). Employees satisfaction helps the entity in achieving their objectives. The main aim of the
report is to identify impact of employee satisfaction on company's performance. Research plan
will be described in this project. Furthermore, study will give justification for the methods that
will be used for conducting this research.
TASK
1.1 PROJECT PROPOSAL
a) Aim and objective
Aim
“To develop regulatory system for minimizing staff turnover: A study on Marriott HotelHotel”.
Objective
 To identify factors that create issue of staff turnover in the organization
 To analysis current regulatory system of Marriott Hotel.
 To develop strategies that can help in reducing staff turnover in the entity.
b) Research plan
Activities Time framework
Identify the current working of organization 2 weeks
Find out major issue in the business unit 1 week
Scheduling activities to carry out the research
project
1 week
Collection of data 2 weeks
Analysis of information 1 week
Discussion and findings 1 week
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Conclusion 1.5 week
Amendments 1 week
It may be possible that researcher fails to complete data collection activity in 2 weeks so
individual had to make changes in its time schedule and will have to increase period of time of
data collection activity and need to decrease time of drawing the conclusion (Hwang and et.al,
2014). Furthermore, if researcher pay more attention on analysis of the information then this can
be done within 3 days also. So, scholar need to look upon this as well.
c) Possible sources
Employee turnover is the main issue faced by the Marriott Hotel in recent time. It not
only impacts on business performance but also it can increase operational cost of the entity. In
order to collect information about the severity of staff turnover issue in the Marriott Hotel
researcher can take support of secondary data collection sources (Madera, Dawson and Neal,
2014). Earlier statistical records, annual report of the cited firm can help scholar in measuring the
impact of staff turnover on company's performance. Apart from this, annual records of the entity
can help the investigator in knowing how much amount is being spend by the Marriott Hotel
every year on hiring new candidates (Chen and Zheng, 2016).
Apart from this researcher can also take support of primary data collection sources.
Individual can use questionnaire technique to get information about staff turnover, its cause and
its impact on the business unit (Smith, 2015). By this way scholar will be able to develop
regulatory system that can help in minimizing staff turn-over issues in the Marriott Hotel and
improving performance of the organization.
1.2 CARRY OUT APPROVED RESEARCH PROJECT
To carry out the investigation on the burning issue of increasing staff turnover, scholar
has taken support of primary and secondary data collection sources. Researcher will look at the
annual records of Marriott Hotel (Sekaran and Bougie, 2016). These statistical reports will show
amount spend on hiring new candidates every year, number of persons leaving job every year
etc. These annual records can be obtained by the scholar from the official site of the Hotel.
Through these sites individual will get to know real market position of the organization in the
hospitality industry. Competition is too high and every year firms have to make modifications in
its system so that it can sustain in the market for longer duration. Increasing staff turnover is
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creating issue for the cited firm because due to this, sales revenues of the company is declining
(Karatepe and Shahriari, 2014). Furthermore, with the help of these reports individual can get to
know what changes have been made by human resource management of the organization in last
few years to minimize the staff turnover issue and how effectively these changes have worked. In
addition, researcher can involve higher authorities into this research and with the permission of
top management individual can get all previous records of the corporation. These records will
help the scholar in identifying the real situation of the company (Dawson and et.al, 2014).
Researcher will also use primary sources for collecting information about the issues faced
by Marriott Hotel. People are leaving their jobs frequently, it is essential to find out route cause
of the problem so that such type of issues can be minimized and researcher can modify
regulatory system accordingly (Cope, 2014). This developed regulatory system can help the cited
firm in retaining skilled employees in the workplace for longer duration and can help in gaining
competitive advantage as well. In the primary sources individual will take support of
questionnaire technique (Bryman and Bell, 2015). Once all respondents who are managers of the
Marriott Hotel have given their positive concern, then researcher can send them questionnaire
through email. Information can be collected through questionnaire technique to the investigator
about the staff turnover can help the scholar in making necessary changes in the system so the
company can minimize its turnover ratio and can enhance satisfaction level of employees (Smith,
2015). By asking questions with the manager of the Marriott Hotel investigator will be able to
improve condition of the entity significantly.
2.1 JUSTIFICATION OF METHODS SELECTED IN THE RESEARCH
PROJECT
Primary and secondary data collection sources are effective research methods for the
present business research project. The main aim of the project is to develop regulatory system in
the organization to minimize the staff turnover rate in the Marriott Hotel. Primary data collection
is appropriate for the investigator because it will help in gathering first-hand information which
will help in identifying the real internal position of the organization (Data Collection Methods:
General Categories, 2016).
Questionnaire is the method which is generally applied in the situation where researcher
has to get detail about real position and working of the firm. Managers are appropriate persons
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those who can share real information about facts and figures related to staff turnover in the cited
firm. This method will support the researcher in making necessary changes in the current
regulatory system so desired results can be obtained by the entity. Furthermore, researcher will
also take support of secondary data collection sources. Secondary sources are such as books,
journals, internet articles, company's performance report etc (Bryman and Bell, 2015). Books
and journal articles can be beneficial for the investigator because with the help of these journal
articles scholar can be able to know real situation of hospitality industry. Market trends,
consumers preference, hotel’s growth, employee demand can be analysed by using earlier article
on the same topic. By this way individual can develop understanding about the impact of
increasing turnover of staff on the company's performance (Sekaran and Bougie, 2016). Annual
reports are the appropriate tools that supports investigator in knowing real situation of the
company and how many people leave job and how many new candidates come to the
organization on regular bases. This will help in making effective policies to increase retention
rate of employees.
3.1 EVALUATION
a) Strength and limitation of subject of the project
Present study is on staff turnover issue in Marriott Hotel and to develop regulatory
frameworks to minimize this issue in the organization.
Strength
 Staff turnover is the burning issue in the organization and many researchers have
conducted study on this topic. By this way scholar has huge data about the topic so
individual can identified route cause of the problems and can make necessary changes in
the regulatory system to reduce turnover rate of employees in the Marriott Hotel
(Karatepe and Shahriari, 2014).
 Subject is vast and huge data is available on it so it would be easy for the investigator to
carry out effective investigation on this subject matter. Staff turnover is increasing in the Marriott Hotel with rapid speed and management want
to reduce this figure so that it can make effective control over the cost and can enhance
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its profit. Thus, on this issue management are giving their full support which is the
strength of the subject (Dawson and et.al, 2014).
Weakness
 Though staff turnover is a vast topic, there are many factors involved in it such as causes
of increase rate, impact on business etc. But rather than discussion on each element
researcher has only focused on the developing regulatory system to make control over
this issue. This is the weakness of this subject (Chen and Zheng, 2016).
 Limited number of participants cannot give all information about the issue and sometimes
some topic need to be kept confidential so people are unable to give relevant answers of
some questions which are related with the amount spend in hiring new candidates etc.
b) The extent to which project meet with its aim and objective
Business research project has met with its aim and objectives to great extent. The primary
aim of the investigation was to develop regulatory system to reduce staff turnover rate in the
corporation. For that scholar has gathered information from primary and secondary sources. Both
these tools have supported the researcher in meeting with the objective because individual has
developed their understanding. This has helped the individual in making necessary changes in
the current policy and practices. By this way person has become able to meet with the criteria of
the research subject.
Apart from this, researcher has scheduled activities properly which has supported
individual in completed the project within specified time duration. In the limited duration scholar
has completed the project significantly and that helps in meeting with the objective. All involved
persons such as management of Marriott Hotels and authorised sites from which data have been
taken have helped the researcher in developing understanding about the subject matter. By this
way individual has become to meet with the aim and objective of the business research project.
But somehow due to lack of financial resource's researcher was not able to take support
of advance technologies (Bryman and Bell, 2015). If individual had used the latest equipments
for developing the regulatory system in the Marriott Hotel it may give better results to the
scholar. But use of thematic approach for data analysis and primary secondary sources for data
collection were appropriate tools which has supported the investigator in meeting with the
objective and drawing valid conclusion to great extent.
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c) Plan and impact on review of the plan
Reviewing is the process which help researcher in completing the research project
effectively and meeting with its real objective. After reviewing of the research planning
individual has realised that data collection may take more time and for conducting this study
researcher need quality material so that individual can find out route cause of the problems and
can make necessary development in the regulatory system accordingly (Smith, 2015). By this
review person can complete this project before estimated time period. This has impacted entire
study in positive manner. Because in this way researcher has been given more time for data
collection and has gathered in-depth detail about the topic. By this way understanding level of
individual has been raised to a great extent. Thus, scholar was able to develop regulatory system
to minimize staff turnover in the Marriott Hotel.
d) Finding and conclusion
From the above study, it is found that staff turnover not only affect profitability but also
impact on the long-term sustainability of the business unit. It is necessary to review the current
regulatory system of the company in order to identify drawback in the system. It is found that if
Marriott Hotel gives reward and recognition to its staff members then they will feel motivated
and they can be retained in the organization for longer duration. Furthermore, need to adopt
participative leadership style. This can help in creating healthy environment in the workplace and
people will like to retain in the organization for longer duration.
From the above business research project, it can be concluded that staff turnover needs to
be controlled and minimized so that company can grow well and can meet with its real objective.
Primary and secondary are effective resources and can help in gathering in-depth detail about
subject matter. Research planning is the beneficial tool that helps in scheduling the activities so
that project can be completed within specified time period.
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REFERENCES
Books and Journals
Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press. USA.
Chen, X. and Zheng, X., 2016. Influence mechanism of an employee's perceived value on
turnover intention: an empirical study taking new generation Hotel employees as an
example. Tourism Tribune. 31(1). pp.81-91.
Cope, D. G., 2014, January. Methods and meanings: credibility and trustworthiness of qualitative
research. In Oncology nursing forum (Vol. 41, No. 1).
Dawson, M. and et.al., 2014. The influence of Hotel communication practices on managers’
communication satisfaction with limited English–Speaking employees. Journal of
Hospitality & Tourism Research. 38(4). pp.546-561.
Guilding, C., Lamminmaki, D. and McManus, L., 2014. Staff turnover costs: In search of
accountability. International Journal of Hospitality Management. 36. pp.231-243.
Hwang, J. and et.al., 2014. The impact of occupational stress on employee's turnover intention in
the luxury Hotel segment. International Journal of Hospitality & Tourism
Administration. 15(1) pp.60-77.
Karatepe, O. M. and Shahriari, S., 2014. Job embeddedness as a moderator of the impact of
organisational justice on turnover intentions: A study in Iran. International Journal of
Tourism Research. 16(1). pp.22-32.
Madera, J. M., Dawson, M. and Neal, J. A., 2014. Managing language barriers in the workplace:
The roles of job demands and resources on turnover intentions. International Journal of
Hospitality Management. 42. pp.117-125.
Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building approach.
John Wiley & Sons.
Smith, J. A., 2015. Qualitative psychology: A practical guide to research methods. Sage.
Online
Data Collection Methods: General Categories. 2016. [Online] Available through:
<http://www.statisticshowto.com/data-collection-methods/>. [Accessed on 13th October
2017].
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