Research: Rewards, Compensation, and Staff Retention at Burberry

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Added on  2023/01/05

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This research proposal investigates the impact of rewards and compensation on staff retention within Burberry. It explores the background of the research topic, emphasizing the significance of employee motivation and retention for organizational success. The study examines Burberry's organizational structure, its global presence, and its HR practices, including rewards and compensation strategies. The research questions focus on understanding the concept of rewards, its application at Burberry, and its role in staff retention. The methodology includes an Interpretivist research philosophy, an inductive approach, and a case study research strategy. Data collection methods involve questionnaires and secondary data analysis. The study considers the time horizon, resources, and data analysis techniques, including frequency distribution analysis. The research aims to provide insights into how rewards and compensation practices contribute to staff retention and organizational growth within a competitive market. The report includes a comprehensive list of references from books, journals and online sources.
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Research proposal
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Contents
Research Title:.............................................................................................................................................3
Background to Research Topic....................................................................................................................3
Background to Research Organisation.........................................................................................................3
Research Rationale......................................................................................................................................4
Research Question(s)...................................................................................................................................4
Research Aims and Objectives.....................................................................................................................4
Research Methodology................................................................................................................................4
TIME HORIZON:...........................................................................................................................................6
Resources....................................................................................................................................................8
References...................................................................................................................................................9
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Research Title: “To identify the importance of rewards and compensation in terms of
increasing staff retention within an organisation”: A case study on Burberry
Background to Research Topic
Every organisation has its long term vision to achieve which requires maximum support
from workforce thus it is important for management to consider their level of interest within an
organisation which can motivate them to work with more dedication and efficiently. Rewards
and compensation is considered as an effective HR practice which helps an organisation to retain
its skilled and experienced employees for longer period of time. Rewards and compensation
includes additional monetary benefits, performance recognition, flexibility etc. which brings
motivation among workforce to give their best efforts in achievement of organizational goals and
objectives.
Background to Research Organisation
Burberry is a manufacturer of men, women attires along with accessories and fragrances.
The brand is founded by Thomas Burberry in 1856, Thomas Burberry invented gabardine (the
waterproof, hard wearing fabric and breathable). Burberry introduced the first website in united
states. Company designs trench coats which is waterproof leather and has a removable insulated
lining. Burberry has 465 stores in 59 countries with different locations as on march 28, 2020.
Burberry is the most valuable goods worldwide. Organisation working with 9829 employees
worldwide. First shop has opened in the Haymarket, London in 1891. The company is a
component of FTSE 100 Index. It is a share index of 100 companies by capital value and also got
placed in London Stock Exchange with good market share. There is a code of conduct for
designing and the product is produced and distributed through own retail store worldwide. The
company has hired Lord Litchfield as a photographer. Chairman of the company is Lord
Wolfson and Stanley Peacock is a managing director. Organisation offers small parking for
employee vehicle, also provides free food and fruits. Organisation never forget to appreciate
their employee by rewarding or providing packaging benefits. Firm provide half days for 12
weeks of summer on Friday and many more lifestyle enhancement rewards. Company earned
worldwide revenue about 2.63 million in 2020. the channel of distribution is retail, wholesale
and licensing. Most of the revenue is generated through retail sales. In 2019 the retail sale
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accounted around 2.19 million worldwide. Burberry product includes wallets, blankets, candles
and umbrellas. High profit is collected from women's product.
Research Rationale
The main purpose of conducting present research is to identify the importance of
adopting such HR practice i.e. rewards and compensation in context of increasing staff retention
within an organisation. This will encourage organisations operated throughout the business world
to support their skilled and experienced employees so that maximum contribution can receive
from them towards achievement of its short as well as long term goals and objectives.
Research Question(s)
What do you understand about the concept of rewards and compensation?
How rewards and compensation practices support Burberry in increasing their staff
retention?
Why staff retention is necessary for Burberry to achieve growth and success in
competitive market?
Research Aims and Objectives
To understand the concept of rewards and compensation.
To examine the role of rewards and compensation in increasing staff retention within
Burberry.
To analyse the importance of staff retention in the context of Burberry.
Research Methodology
Research Philosophy:
This is the process of researcher’s thought and relatable knowledge of objectives
research. This is based on two type of philosophy. Positivist philosophy is a process of data
collection and interpretation in an objective way. It depends on observations and statistical
analysis. On other hand Interpretivist philosophy is based on research's interest and observing the
social world. So that researcher can appreciate people prospective. In the present research,
Researcher adopts Interpretivist research philosophy to make the best use of analyzed data by
interpreting in meaningful and understandable manner.
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Research Approaches:
Research approaches are the plan and procedures for the research that implement the
steps from board assumption to method of collecting data, analysis and implementation. There
are three type of approaches (a) qualitative research is a atomistic approaches which involve
innovation and investigated from participant's point of view. Different research designs use this
approach to make a research approach, (b) quantitative research, focuses on measurement of
objectives and analysis of data by statistical, mathematical or numerical form. (c) Mixed research
is the integration of qualitative and quantitative research approach. Researcher must have
implemented the research approaches accordingly by analyzing the need of their research. In the
present research, inductive approach has been used which drives researcher to include all data
relevant to the research topic in order to draw a valid conclusion at the end of research.
Research Strategy:
Research strategy tells the researcher in planning, organizing and monitoring the report. It
is the plan for executing the research project and it includes (a)case study, which is a depth
explanation of any case by using different type of data, observations, survey and interviews (b)
Qualitative interviews conduct to gather rich information and interviewee should wide range of
skills like listening skills, communication skills and social skills. (c) Action oriented research,
which is performed for change or feedback for change. It takes theory and practical together for
action and reflections. Research strategy helps in getting useful information and finding the
result out of it. In the present research, case study research has been adopted to understand and
study all topics in descriptive manner.
Research Choices:
Research choices are aim to note that what information have gathered by recognised
online research organisation. The motive is to inform that, the data is being collected is kept
safely and responsibly individually uses for research project. It is a part of social and market
research's self-regulation guarantee consumer should aware about the data collection and use of
data in the research project. Clients can take the right decision as researcher using anonymise
fashion. All the research organisation are following rules and laws with high standards and
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privacy policies. It helps to organisation to take right choice of research with effective sources.
In the present research, mixed approach has been used with pragmatic research philosophy.
Data Collection Method:
The method of collecting data from different sources is called data collection. It includes
case study, facts, figures, statistical and mathematical data. There are two type of data collection.
(a) primary data, the data which is gathered from survey, questionnaires and focus group. (b)
secondary data, the data which is collected by internet or existing facts and figures to make it
realistic in the research report. In the present research, close ended questionnaire is opted to
make easy for researcher to express their views on research topic within less time period.
Organisation uses method of data collect as per the concern of the client, that it will be helpful
for research project or not. In the present research, both primary and secondary data of collection
method are adopted to draw a valid outcome at the end of research work.
TIME HORIZON:
This is the methodology which is done on two basis (a) cross-sectional, in which task
splits in to small by which time frame will be evaluated and makes the task easy. (b) longitudinal
horizon is a lean thy process, which takes too much time to complete a report project.
Organisation should use cross-sectional horizon to complete the research in less time. The
present research takes at least 2 months for completion in an appropriate way.
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Resources
Researcher can conduct an appropriate research only if sufficient amount of resources are
available to execute different research work. In research, resources are primary and secondary in
nature. While collecting primary data, researcher uses different resources such as questionnaire
form that to be filled by selected respondents. On the other hand, collecting secondary data
requires journals, books and internet based information. Apart from this, human resource, funds,
time etc. are other kinds of resources that are necessary to utilize by the researcher in an
optimum manner.
Data analysis and Discussion
Data analysis is an important technique to undertake in order to analyse data either in
qualitative or quantitative form. In the present research, quantitative data has been collected for
the purpose of evaluating in understanding and meaningful manner. For this, analytical technique
has been used such as frequency distribution analysis. It will be more helpful for the researcher
to analyse quantitative data through constructing frequency table and graph in Ms Excel. Thus,
frequency distribution is much effective to adopt to analyse quantitative information due to
taking less time period.
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References
Books and Journals
Azeez, S.A., 2017. Human resource management practices and employee retention: A review of
literature. Journal of Economics, Management and Trade, pp.1-10.
Ling, F.Y.Y., Ning, Y., Chang, Y.H. and Zhang, Z., 2018. Human resource management
practices to improve project managers’ job satisfaction. Engineering, Construction and
Architectural Management.
Maloni, M.J., Campbell, S.M., Gligor, D.M., Scherrer, C.R. and Boyd, E.M., 2017. Exploring
the effects of workforce level on supply chain job satisfaction and industry
commitment. The International Journal of Logistics Management.
Mathieu, C., Fabi, B., Lacoursière, R. and Raymond, L., 2016. The role of supervisory behavior,
job satisfaction and organizational commitment on employee turnover. Journal of
Management and Organization, 22(1), p.113.
Osborne, S. and Hammoud, M.S., 2017. Effective employee engagement in the
workplace. International Journal of Applied Management and Technology, 16(1), p.4.
Rai, A., Ghosh, P., Chauhan, R. and Singh, R., 2018. Improving in-role and extra-role
performances with rewards and recognition. Management Research Review.
Rastgoo, P., 2016. The relationship of talent management and organizational development with
job motivation of employees. Acta Universitatis Agriculturae et Silviculturae
Mendelianae Brunensis, 64(2), pp.653-662.
Russell, Z.A., Steffensen, D.S., Ellen III, B.P., Zhang, L., Bishoff, J.D. and Ferris, G.R., 2018.
High performance work practice implementation and employee impressions of line
manager leadership. Human Resource Management Review, 28(3), pp.258-270.
Santhanam, N., Kamalanabhan, T.J., Dyaram, L. and Ziegler, H., 2017. Impact of human
resource management practices on employee turnover intentions. Journal of Indian
Business Research.
Scott, M.E., 2016. Strategies for retaining employees in the hospitality industry.
Online
Primary source and secondary source, 2018. [Online] Available through;
<https://businesscasestudies.co.uk/food-standards-agency/market-research-and-
consumer-protection/primary-and-secondary-research.html>.
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