Evaluating Employee Retention's Impact on Thomas Cook's Performance

This research project delves into the critical importance of employee retention and its direct impact on organizational performance, using Thomas Cook as a case study. The report begins with an introduction outlining the background of the research, the research problem, scope, aim, objectives, and questions. Chapter 2 provides a comprehensive literature review, exploring the concept of employee retention, its significance in enhancing organizational performance, and the various factors influencing employee retention within an organization. The research methodology, detailed in Chapter 3, outlines the data collection methods, sampling techniques, and research approach employed. Chapter 4 presents the data analysis, including the questionnaire used and the frequency of responses. Finally, Chapter 5 concludes the research with recommendations based on the findings. The report emphasizes the importance of employee retention strategies, such as incentive programs, motivation, and a positive work environment, in fostering employee satisfaction and organizational success. The study aims to evaluate how retaining employees can boost Thomas Cook's overall performance.

Research Project

Table of Contents
Chapter 1: Introduction....................................................................................................................1
Introduction.................................................................................................................................1
Background of research...............................................................................................................1
Statement of research problem....................................................................................................2
Scope of research........................................................................................................................2
Research Aim..............................................................................................................................2
Research objectives.....................................................................................................................2
Research questions......................................................................................................................2
Chapter 2: Literature Review...........................................................................................................3
Concept of employee retention...................................................................................................3
Main significance of employee retention in improving organizational performance.................3
Factors that affect employee retention within the organization..................................................4
Chapter 3: Research Methodology...................................................................................................4
Chapter 4: Data Analysis.................................................................................................................5
Chapter 5: Conclusion and Recommendation................................................................................18
Recommendation.......................................................................................................................18
Conclusion.................................................................................................................................18
REFERENCES..............................................................................................................................19
.......................................................................................................................................................20

Topic: “To evaluate the importance of employee retention and its effect on performance of
the company. A study on Thomas Cook.”
Chapter 1: Introduction
Introduction
Employee retention consider as an power of business organisation to retain as well as
sustain their workers in company. It is also related with the process in which all the resources are
motivated as well as encourage workers to stay in organisation to attaining higher sustainability.
One of the main aim of employee retention is to make both employee and employer happier
(Balouch and Hassan, 2014). This will help them in sticking within the company that may
directly assist in accomplishing competitive picture in customers mind. Furthermore, it is also
depends how employer understand the different concerns of the workers and at the same how
help them in resolving their issues in appropriate manner. Present report is based on Thomas
Cook, is famous hospitality company operate in London with the aim of providing quality
services to various customers according to taste. In this, research is carry out to retain workers by
using different technologies of human resource.
Background of research
In business organization, employee retention is one of the important process in which
workers are highly engage as well as encourage within the company to make organisational
performance strong. Mainly, it is consider as an ability of business organisation to retain
workers. It also includes all those practices which help employees stick in company for longer
period of time. Retaining workers is play a significant role in business to attain success. Along
with this, retention strategies also help company to provide better communication that help in
increasing their productivity level. For attaining the same, manager of the organization should
enhance the motivation by providing them positive and healthy work environment (Irefin and
Mechanic, 2014). In this context, Thomas Cook is a British global travel company that provide
quality services related with the hotel and resort. Company was founded in 1841 for attaining
success. Management of business organization includes motivated and skilled workers that help
them in operating their activities in effective manner. Along with this, company also provide
better training and development programs to enhance workers skills and knowledge. It define
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positive impact on workers performance at workplace through which company enhance their
overall productivity at market place.
Statement of research problem
Current study is related with the “To evaluate the importance of employee retention and
its effect on performance of the company. In this context, employee retention is crucial
conception within the organisation that aid in sustaining workers at workplace with the aim of
enhancing productivity (Hameed, Ramzan and Zubair, 2014). In business organisation, various
challenges are there that faced by company while retaining talent and valuable workers. This is
the main reason that, this investigation is carry out to determine the keeping issues. It assist in
accomplishing optimistic outcomes within the research activities.
Scope of research
Current investigation is based on determine the value of workers retention within the
organisation and also analyse how it affect the company performance. This study provide
necessary information towards the basis of work and activities that help organisation to improve
their productivity and retention as well.
Research Aim
“To evaluate the importance of employee retention and its effect on performance of
the company. A study on Thomas Cook.”
Research objectives
 To define the concept of employee retention.
 To evaluate the importance of employee retention in improving organizational
performance.
 To examine the cause that affect the workers retention within the organization.
Research questions
 What is the concept of employee retention?
 What is the importance of employee retention in improving organizational performance?
 What are the cause that affect the workers retention within the organization .
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Chapter 2: Literature Review
Literature review is a explicit, tabular, consistent and useful method which is applied by
investigator to identifying, evaluating and determining appropriate information regarding the
study. It is a most essential part of dissertation which will assist a researcher to identify gaps in
previous study. Therefore, in this section, all objectives of study are addressed in systematic
manner which are determined as under:
Concept of employee retention
According to the Fiordelisi and Ricci, (2014), Employee retention introduces as the
overall ability and strategy of an enterprise to retain its knowledgeable workers and thus
maintain a lower turnover. An enterprise is capable to accomplish this by adopting different
programs of employee retention. This program involves steps opening from identifying the main
subscribers in the company, and planning accurate schemes to include them with the business to
see that they do not leave. In addition, employee retention refers as an organisational goal and
objective of keeping knowledgeable workforce and overcoming turnover by developing a
positive work environment. As it will help them to encourage appointment, giving competitive
pay, showing appreciation to workers and healthy work-life balance. In order to retain workers
for long time, an organisation follow human resource technology for recruiting, onboarding,
recognizing and engaging employees and offer modern advantages such as financial as well as
physical wellness programs.
Main significance of employee retention in improving organizational performance
As per the point of view of Bhuvanaiah and Raya, (2014), Retention of a motivated and
positive worker is very essential for success and growth of an organisation within given time
period. High turnover of employees maximise the expenditure and also has an unfavourable
impact on the morale of an enterprise. Along with this, implementation of employee retention
program is essential and important style of making sure that the pivotal employees stay
employed while keeping and balancing job performance as well as productivity. Employee
retention is most essential and important part for improving organisational performance within
given time duration. Better relation with employees is also important and significant part for the
success and growth of Thomas Cook. In order to retain employees for longer period, an
organisation can follow various form of motivation theories and techniques such as job rotation,
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process and content theory of motivation. All these are effective and useful for an enterprise to
improve their performance and profitability level within given time duration.
Factors that affect employee retention within the organization
According to the Schiemann, (2014), Employee retention refers an effective process in
organization makes efforts for their employees so that they will stay in the organization for a
longer period of time. There are various factors which can impact this process and mentioned as
below:
Incentive program: Every employee in an organisation is different and so as its abilities.
In order to satisfy all the employees and make sure to provide returns for their hard work, it is
important to provide them relevant monetary and non monetary benefits. Personalised incentive
program is the considered as the best technique as due to this, employees can get returns
according to their contribution towards the company (Crozet and Milet, 2017). In regard to
Thomas Cook, employers of this organisation should maintain appropriate records so that they
assess contribution of the employees and accordingly provide returns to them.
Motivation: Another factor which impacts employee retention in an organisation is
motivation. It has been seen that the most common reason of low employee turnover is low
motivation of employees (Dögl and Holtbrügge, 2014). It is important of employees working in
corporate world to be motivated so that they can give their hundred percent towards the
organisation. Thomas Cook should arrange training sessions to encourage and motivate their
employees in order to gain overall productivity. Motivation can also be provided by the way of
rewards and recognition.
Chapter 3: Research Methodology
Research methodology is important part of research which will be applied for
accumulating actual data regarding the study. This section of research will also assist an
investigator by giving proper information about current study (Dugguh and Dennis, 2014). This
section have to includes different methods which is data collection tools, research philosophy,
research approach etc. All these are consider effective and useful methods for doing this
investigation in systematic manner. All these methods are explained as under in accurate manner:
Data collection: This part of methodology have been divided into two types such as
primary and secondary. Both are essential and effective methods which will support a researcher
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to accumulate data in form of quality. Under primary method, questionnaire is used for collecting
reliable information about the importance of employee retention (Elnaga and Imran, 2014). In
case of secondary methods, different number of articles, journals, books, magazines and
publication research will be applied. All these are useful methods which help in collection of in-
depth information about the study.
Sampling: Sampling method in research have been classified into two section such as
Probability and non-probability As it help an organisation in saving its resources as well as cost.
Therefore, with the help of this method, 30 respondents will be taken into consideration. On the
other side, non-probability sampling is not useful because it take more cost of an organisation.
Research choice: There are two types of investigation such as qualitative and
quantitative (Fu and Deshpande, 2014). According to this project, qualitative research will be
used. As it will support an investigator in accumulation of quality information regarding the
study. On the other hand, quantitative research is not appropriate because it require data or
information in form of numbers.
Research instrument: Questionnaire introduces as an important instrument of primary
research which will be used by investigator to collection of reliable as well as relevant
information according to the significance of employee retain (Korschun, Bhattacharya and
Swain, 2014).
Chapter 4: Data Analysis
Questionnaire
Name:
Age:
Contact no.:
Email address:
Q1) Are you aware about employee retention?
a) Yes
b) No
Q2) Is employee retention is essential for organization to increase their performance level?
a) Yes
b) No
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Q3) What is the main significance of workers retention in improving execution of Thomas
Cook?
a) Improving organization productivity
b) Increase morale
c) Cost effective
Q4) What are the cause affecting employee retention within Thomas Cook?
a) Ineffective training
b) Working environment
c) Organisational culture
Q5) What are the strategies associated with employee retention used by company to
sustain them for longer period of time?
a) Recruitment and hiring
b) Training and development
c) Pay and benefits
Q6) Is motivation is crucial for employee retention within the organization?
a) Yes
b) No
Q7) What are the situation of poor employee retention faced by company?
a) Reduce productivity
b) Ineffective communication
c) Improper knowledge about company
Q8) What are the ways used by Thomas Cook for increasing employee retention?
a) Positive work environment
b) Fair benefits
c) Rewards and recognition
Q9) What are the retention tools used by company for employee retention?
a) Communication
b) Employee survey
c) Employee retention consultants
Q10) Recommended ways by which company retain employees for longer period of time.
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Q1) Are you aware about employee retention? Frequency
a) Yes 20
b) No 10
Q2) Is employee retention is essential for organization to increase
their performance level?
Frequency
a) Yes 17
b) No 13
Q3) What is the main significance of workers retention in
improving execution of Thomas Cook?
Frequency
a) Improving organization productivity 15
b) Increase morale 10
c) Cost effective 5
Q4) What are the cause affecting employee retention within
Thomas Cook?
Frequency
a) Ineffective training 17
b) Working environment 8
c) Organisational culture 5
Q5) What are the strategies associated with employee retention
used by company to sustain them for longer period of time?
Frequency
a) Recruitment and hiring 12
b) Training and development 12
c) Pay and benefits 6
Q6) Is motivation is crucial for employee retention within the
organization?
Frequency
a) Yes 20
b) No 10
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Q7) What are the situation of poor employee retention faced by
company?
Frequency
a) Reduce productivity 15
b) Ineffective communication 8
c) Improper knowledge about company 7
Q8) What are the ways used by Thomas Cook for increasing
employee retention?
Frequency
a) Positive work environment 15
b) Fair benefits 10
c) Rewards and recognition 5
Q9) What are the retention tools used by company for employee
retention?
Frequency
a) Communication 12
b) Employee survey 10
c) Employee retention consultants 8
Theme 1: Idea about employee retention.
Q1) Are you aware about employee retention? Frequency
a) Yes 20
b) No 10
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Interpretation: As per preceding graph it can be evaluated that employee retention is includes
as an act and ability in which company sustain their employees at working station. 20
respondents are think that employee retention is crucial for company to maintain their
performance level and also build competitive. Furthermore, 10 people are not cognizant active
the employee retention and its effectiveness for the company and its workers as well.
Theme 2: Employee retention is important for company to improve their performance
level.
Q2) Is employee retention is essential for organization to increase
their performance level?
Frequency
a) Yes 17
b) No 13
9
20
10
a) Yes
b) No

Interpretation: it has been evaluated by above discussed chart, that employee retention is
crucial organization to improve their performance level by motivating workers to perform well
as best. Along with this, it also assist in devising workers to deal all the activities in the business
organization. 17 out of 30 answering said that retention of workers is important for company to
enhance their brand image. On the other side, 13 people think that retention is not more crucial
for rising organizational performance.
Theme 3: Improving organization productivity is main significance of employee retention
in improving performance of Thomas Cook.
Q3) What is the main significance of workers retention in
improving execution of Thomas Cook?
Frequency
a) Improving organization productivity 15
b) Increase morale 10
c) Cost effective 5
10
17
13
a) Yes
b) No