Employee Retention and Productivity: A Marriott International Study

Verified

Added on  2021/02/21

|24
|5277
|360
Report
AI Summary
This report delves into the critical topic of employee retention, exploring various strategies organizations can employ to enhance overall productivity, with a specific focus on Marriott International. The introduction highlights the importance of retaining skilled employees, emphasizing its impact on reducing turnover, fostering a positive work environment, and achieving a competitive edge. The background section provides context for the research, while the statement of research problems outlines the challenges faced. The research preview details the aim, objectives, research questions, and scope of the study, including the research hypothesis, attributes of research work, and the rationale and purpose of the topic. The literature review examines the requirements of employee retention, different retention methods, and the relationship between employee retention and business productivity. The report also outlines the research methodology, including research design, approach, data collection methods (quantitative and qualitative), and sampling techniques. Finally, the report presents the findings, analysis, and discussion, along with conclusions, recommendations, limitations, and a reflection on the research process, providing valuable insights for organizations aiming to improve employee retention and boost productivity.
Document Page
Research project
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Table of Contents
TOPIC: “Various ways through which an organisation can retain their employees in order to
improve overall productivity of firm”..............................................................................................4
Chapter 1 - INTRODUCTION........................................................................................................4
Introduction............................................................................................................................4
Background of research..........................................................................................................4
Statement of research problems..............................................................................................4
Research Preview...................................................................................................................5
Timescale................................................................................................................................6
LITERATURE REVIEW................................................................................................................9
Requirement of employee retention in an organization.........................................................9
Different methods through which Marriott can retain their employees in firm easily.........10
Relation between employee retention and business productivity.........................................11
RESEARCH METHODOLOGY...................................................................................................12
Research design....................................................................................................................12
Research approach................................................................................................................12
Data collection:.....................................................................................................................12
Quantitative..........................................................................................................................12
Qualitative............................................................................................................................12
Primary research...................................................................................................................13
Secondary research:..............................................................................................................13
Sampling:..............................................................................................................................13
Questionnaire: ......................................................................................................................14
DATA ANALYSIS .......................................................................................................................14
Chapter 4: Data Findings, Analysis and Discussion......................................................................15
Conclusion, Recommendations and anticipated Limitations.........................................................21
Reflection.............................................................................................................................21
Recommendations................................................................................................................21
Limitation.............................................................................................................................22
CONCLUSION..............................................................................................................................22
Document Page
REFERENCES .............................................................................................................................23
Books and journals:..............................................................................................................23
Document Page
TOPIC: “Various ways through which an organisation can retain their
employees in order to improve overall productivity of firm”.
Chapter 1 - INTRODUCTION
Introduction
Employee retention is considered as the capability if firm to sustain their workers. This is
related top various policies as well as practices that allow staff to stick to firm for longer duration
(Beyers and et. al., 2014). The main purpose of company is to keep proficient employees and
reducing turnover by raising optimistic work surroundings for promoting involvement,
facilitating competitive advantage, appreciation to employees as well as provide them effective
work life balance. Moreover, employers are basically interested to retain workers during less
employment and increase the competition for talent. For retaining the employees, organisation
utilise HR technology for recruiting, identifying the staff as well as facilitate them advantage.
Background of research
Employee retention is considered as the procedure in which workers are motivated to be
with firm for longer time period. The retention strategies assists company to provide effective
staff communication for making development in their commitment as well as enhance
personnel support for firm initiatives. This is essential increasing productivity and effective
personnel. For retaining the employees, it is significance for employer to maximise staff
motivation as well as facilitate them comfortable work surroundings in effectual manner.
Marriott international is a leading multinational diversified hospitality firm which handle as well
as franchises a broad hotel and lodging facilities portfolio. It's headquarters is in Bethesda,
Maryland, US. The respective company management deals and communicate with their staff in
optimistic way so that they remain encouraged. They facilitate training to workers for
maximising its knowledge and competencies so that they perform effectively. This create
positive effect upon Marriott international performance level.
Statement of research problems
Research problems are considered as the hurdles that are faced through researcher while
performing research which can be connected to procedures, financing, techniques, methods of
data collection and so on (Camahalan and Ruley, 2014). Because of these issues research results
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
can get impacted in negative way. While performing the research, investigator faced several
problems like individuals are not responding appropriately lack of funding and so on. Moreover,
the researcher face problems regarding time period that are facilitated for doing investigation on
selected topic.
Research Preview
Research Aim
To analyse various ways through which an organisation can retain their employees in
order to improve overall productivity of firm. A study on Marriott international”.
Research Objectives
To analyse the requirement of employee retention in an organisation.
To ascertain different methods through which Marriott can retain their employees in firm
easily.
To determine relation between employee retention and business productivity.
Research Questions
What is the requirement of employee retention in an organisation.
What are the different methods through which Marriott can retain their employees in firm
easily.
What is the relation between employee retention and business productivity.
Scope of research
This is considered as the topic on which research is performed and by this their
effectualness can also be ascertain (Creswell, 2014). It is ascertain mainly on 3 levels that are
marketing, environment and organisation. Research topic for particular project is various ways
through which an organisation can retain their employees in order to improve overall
productivity of firm that aids in maximising staff productivity which will also develop
organisational profitability.
Research Hypothesis
This is considered as the systematic system that is developed through researcher that
depends upon research results which is performed by project manager (Einfalt and et. al., 2012).
Research hypothesis of this investigation is that management of Marriott International can
understand the various ways through which an organisation can retain their employees in order to
improve overall productivity of firm. It will aids in maximising productivity and market shares.
Document Page
Attributes of research work
Attributes of research work considered as the method that can be utilise through
researcher for performing research effectively so that they accomplish its objectives and aim in
effectual way.
Rationale of topic
This is considered as the method that are adapted through researcher fro attaining their
research objective (Eriksson and Kovalainen, 2015). By it Marriott International can able to
know about several ways that maximise the employees retention at firm as well as through this
they can increase its productivity and ratio of profit.
Research purpose
The purpose of performing this research is to get knowledge about the topic that is ways
through which an organisation can retain their employees in order to improve overall
productivity of firm effectively. By this researcher are capable to find out and know about
employees retention and their effectualness. Also, the Marriott can able to find out several
manner by which they can retain staff easily.
Time Duration
This is needed by researcher for gathering data as well as performing research in effectual
way. In context of this investigation, investigator need approx 3 months for doing research on
respective topic effectually.
Resources
This is considered as the resources that are needed through firm researcher for attaining
its investigation in effectual way in stipulated time periods (Goodman-Scott, Doyle and Brott,
2013). Resources that are needed through investigator for performing appropriate research are
proficient staff, techniques, trained labour and so on.
Timescale
Gantt Chart: This is considered as the graphical representation in context of bar chart
that shows the initial and finish dates of several projects like responsibility, resources, milestones
and many more. It aids in finding projects which has been implemented as well as do not initiate
the another work unless essential task are accomplished. Moreover, this also monitor possible
gridlock as well as analysis work which have been eliminated. It is basically utilize through
project manager, general managers and many more.
Document Page
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Work Breakdown structure: This is considered as the framework that breaks the
project into smaller portions to explain role as well as accountability of group in appropriate way
(Hällgren, 2012). It aids manager to examine the outcomes that help in developing effectual
decisions and capable to decide the process and modifications adapted are appropriate or not.
The advantage of work break down structure are this is relevant and reduces risk and describes
team uncertainties. It also aids team member to improve techniques that is needed to formulate
structure confidently.
Document Page
LITERATURE REVIEW
Requirement of employee retention in an organization
According to Sabrina Son (2019), Various firms treat its staff as a dime of dozen. They
think that its best employees can simply be replaced, specifically in current tricky economy in
which these are no lack of folks seeking for job. But it is not true, good company know the
requirements of keeping of keeping its staff for longer period. Some requirements are mentioned
below:
Cost of turnover: Cost of staff turnover incurs more money to firm's expenditure. While
this is tough to totally compute the turnover cost which includes training cost, recruiting
cost and so on. So, it is essential for the firms like Marriott International to retain their
employees so that turnover cost get minimized.
Retaining Efficiency: In case staff resigns then many time that firm loses in hiring new
one and then facilitate them training. This is considered as the loss for the firm directly
that several time get ignored. And even though it do not ensures that same efficiency can
be obtain from new staff. So, it is the requirement of the firm like Marriott International
to retain their workers which saves their time and do not losses the efficient employees.
Document Page
Loss of firm knowledge: When staff leaves the firm they go with essential knowledge
regarding organization, consumers, projects and previous history. Also, moire time have
been spent on workers in expectations of upcoming results. Therefore, it is there is
requirement to retain employees within company.
Interruption of consumer services: Consumers perform business with firm in respect
due to the individuals. Relations are developed which motivate continued sponsorship of
enterprises. When staff leaves, the relation which workers develop for the firm are
offered, that leads towards potential consumer loss.
Different methods through which Marriott can retain their employees in firm easily
As per the Sarah K. Yazinski (2019), Staff leaves firm for several reasons. Approx 88%
of workers leaves its jobs for reasons other than pay moreover 70% manager think staff leave
mostly for the reason of pay. Now a day firm is facing the issues either to invest more money and
time its hiring strategy or give more attention in retaining available talent. Hiring new workers is
costly, time taking and stressful. There are various methods by which Marroitt can retain its staff
within company easily that are mentioned below:
Facilitate growth opportunities: A firm can facilitate workshops, seminars and many
others to aids staff in enhancing their knowledge as well as what they want from its
careers and maximize its efforts of goals setting. This is essential for Marriott
International to facilitate appropriate job challenges to its employees so that they will
maximize their understanding in particular area. Therefore, they feel that in respective
company there is the opportunities of growth so they can retain their staff easily.
Show appreciation, compensation and benefits: Facilitating things such as profit
sharing, pension, competitive salaries paid off time and many more. The rewards
provided to staff must be meaningful to effect its conception of the company as well as
thus has influence on their retention effort. Also, in case firm promises any reward then
hey should keep that promise. Therefore through this method Marriott International can
retain their employees easily.
Training: Training are considered as the key factors that assist workers to grow with its
firm and remain marketable in it areas. Staff training reinforces its sense of value. By this
method, Marriott can aids their employees to attain objectives as well as assure that they
has solid knowledge of its job needs and also retain their staff easily.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Lower stress from overworking and develop work life balance: This is essential to
meet the benefits of work life balance with staff requirements. It can be in respect of
providing non traditional working schedules. When work life balance is structured
effectively, both staff as well as employer come out ahead. Therefore, Marriott
International have to set work life objectives so that healthy work life balance can be
accomplished and also help to retain their workers effectively.
Relation between employee retention and business productivity
According to the Spinney (2013), Employee retention is the firm's capability to keep their
workers. It is generally presented as percentage. Business productivity is considered as the
measure of production efficiency. Higher productivity can lead towards large business
profitability and more income for people. As the percentage of the staff retention enhances then
the productivity of business maximizes. If the firm such as Marriott International are retaining
their staff so they increase their business productivity as through this respective organization can
minimize the turnover cost, training cost etc. Moreover, they free from loosing firm's essential
information regarding consumers, clients, competitors and many more. Thus, all these shows that
there is effective relation between the employee retention and business productivity. Moreover, if
employee retain for the long time so firm do not have to provide training and work happily with
that company which enhances the business productivity of the respective organization.
RESEARCH METHODOLOGY
Research design
This is considered as the set of procedures which is utilize through researcher to
accumulate various components of investigation in effectual way so that problems can be
managed efficaciously (Jensen, Jensen and Brunak, 2012). It is generally reliable in nature in
case research is performed n continuous basis.
Research approach
This is considered as the techniques that involves several steps in respect to method of
different functions like data collection, data analysis as well as their interpretation. This is
usually categorized into parts that are approaches related to data collection and data analysis.
Moreover, this is also refers as qualitative research approach which is effectual for social
approach.
Document Page
Data collection:
Quantitative
This is mainly exploratory in nature. It is the kinds of research that fundamentally aims
at obtaining knowledge about motivation as well as opinions. This utilities scientific method of
observation to accumulate non-numerical data (Koopman, Skeet and de Graaff, 2014).
Moreover, this method facilitates insights issues which aids to improve hypotheses for possible
research. The sample size consider under this research is small as well as audience are chosen to
accomplish a provided quota. Few common methods included in this research are observations,
focus groups and so on. Also, methods of qualitative data collection may differentiate as this
utilizes semi structured or unstructured techniques.
Qualitative
This is considered as the research which generally aims to quantify the exact issues
through producing techniques of numeric data collection as well as convert them into used
statistics. Also, behaviors, attitudes and many are observed. This techniques of data collection is
refers as structured in comparison to qualitative one (Kumar, 2019). Also, in this researcher
research deeply with prime intention of mainly explaining and analyzing meaning by text. This is
mostly utilize by demography, economics and so on. Moreover, the data generates in this
particular investigation can only be utilize in particular situation. Several method involve in this
investigation are online survey, kiosk survey and so on.
Methods that is chosen through researcher for this research to gather data is qualitative
research as by this they are capable to examine as well as find out relevant information as per
the topic to get effective results.
Primary research
This is considered as the research by which information is accumulated directly from the
consumers and it is performed in context of discussions, surveys, and many more. The data
gathered by researcher in this investigation is relevant as well as reliable. This particular research
is costly as well as time taking. For example: Interviewer is organizing face to face to face
interview with the consumer at place that maybe shopping centre and other public ares. There are
various situations where primary research is not sufficient, researcher have to adapt one
additional method that will take time and little bit expensive.
chevron_up_icon
1 out of 24
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]