Employee Motivation Report: Strategies for Employee Retention

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AI Summary
This report focuses on employee motivation, specifically addressing the challenges faced by MegaServe, a medium-sized customer service organization, due to high attrition rates among young employees. The report emphasizes the importance of understanding the millennial workforce, highlighting their expectations regarding organizational culture, leadership styles, and work environment. It explores the influence of organizational culture on employee engagement, emphasizing the need for a thriving workplace culture that values collaboration and provides opportunities for professional development. The report also delves into effective leadership styles, particularly transformational leadership, to attract and retain millennial employees. It recommends that MegaServe adopt a transformational leadership approach to create a motivating and high-performance work environment, fostering open communication and trust. The report concludes by stressing the need for MegaServe to implement these strategies to improve employee retention and increase overall organizational success.
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Running head: EMPLOYEE MOTIVATION
EMPLOYEE MOTIVATION
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1EMPLOYEE MOTIVATION
Executive Summary
Much of current workforce comprises of millennials and the amount has been continuing to
elevate. Thus it is viral for both medium and large business enterprises to regulate to this
generation who exhibit newly developed ideas and perceptions. This workforce however desire
similar incentives and benefits as other generations with job stability along with a competitive
remuneration package. The following report has provided with comprehensive ideas about the
way workforce cultural patterns, sustainability and transformational leadership will aid
struggling companies like MegaServe to successfully contest with challenges of young employee
attrition.
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2EMPLOYEE MOTIVATION
Table of Contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................3
Influence of Organizational Culture on Employee Engagement.................................................3
Exploring Leadership Styles to attract Millennial Employees....................................................6
Conclusion.......................................................................................................................................8
References........................................................................................................................................9
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3EMPLOYEE MOTIVATION
Introduction
Employee retention has become an essential concern for large and small companies in the
current scenario. Individuals once being inducted or trained have the propensity to shift to other
organizations for superior prospects. Employee retention strategies however undergo significant
transitions in motivating and retaining employees to engage to the organizations for maximum
period and further offer substantial production (Aguenza & Som, 2018). Majority of current
workforce comprises of millennials and thus is important for companies to adjust to this
generation in order to magnetize and retain their talent. The following report is purposed for the
top leadership team of a medium-sized customer service organization named Mega Serve based
in Atlanta, Georgia that is currently facing a critical attrition of young employees engaged in
handling customer services department.
Discussion
Influence of Organizational Culture on Employee Engagement
Importance of Millennials in Business
The millennial generation born between years 1980-2000 currently has been entering
employment in substantial numbers and is anticipated to shape the corporate domain in the
prospective years (Cloutier et al., 2015). Thus magnetizing most efficient employees is critical to
the future of any business. Sledge, (2016) has reported that increasing need of millennials in
organizations lies on the variance from the Baby Boomer generation. Furthermore, data state that
millennials already have constituted around one-fourth of the American labor force and account
for over half of the populace in India. Calk & Patrick, (2017) indicate an expectation that by
2020, young employees of 24-35 years of age will constitute around 50% of the global
workforce. As millennials are identified as the first generation to enter into the workplace with
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4EMPLOYEE MOTIVATION
an improved command and expertise of key business tool in comparison to senor work force they
typically exhibit exasperation towards rigid organizational culture and structures. Drawing
significance to the ideas of Sledge, (2016), it has been revealed that several medium-sized
organizations like MegaServe have been encountering losing several higher ranked employees to
its competitors regardless of providing intensive training, lucrative remuneration package and
incentives to its employees.
Organizational Culture on Employee Engagement
Source: (Aguenza & Som, 2018)
Value of Thriving Workplace Culture
Recent studies of Cravens et al., (2015) have stated that young workforce show greater
degree of inclination towards rapid progression along with a diverse and dynamic profession and
constant feedback. This type of workforce specifically emphasize on effective management
techniques along with a thriving corporate culture that is embarked different from the past
generations and successfully accomplish their needs and demands (Calk & Patrick, 2017).
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According to reports by Stewart et al., (2017), there can be identified certain myths about
professional conduct of millennials. However, Cravens et al., (2015) have noted that millennials
constitute similar workplace expectations like senior workforce such as job security and
organizational stability. With many companies like MegaServe facing a critical retention crisis,
they should fundamentally focus on strong company culture and give value and significance to
the work performed by them in order to successfully drive high revenue.
According to Cloutier et al., (2015), wide-ranging labor force across generations values
collaboration and further demands such collaboration to be embedded within the corporate
culture. It has been revealed that around 40% of young employees fail to receive adequate
collaboration and teamwork in the work environment that MegaServe delivers. However, as per
the view of Barbuto Jr & Gottfredson, (2016), key to efficiently execute exceptional
organizational culture is to form sustainable, routine collaboration among different units of the
company. These strategies however will facilitate young employees to attain ideas of activities
taking place in other units and further use digital connectedness in order to proficiently share
new and improved ideas to solve problems or challenges which the company tends to encounter
(Cravens et al., 2015). Furthermore, digital tools and equipments are further required to attain the
goal of sustainability by empowering employees amplify the level of commitment across varied
operational areas. Meanwhile, Sledge, (2016) is of the opinion that social learning further
augments collaboration by making its undemanding to share information and form an open
communication between management and the whole world team. However the United States in
recent times witness wide range of employers who have been posing great avenues and
flexibility to millennials to increase their commitment towards their company. Capital One, a
bank holding company offers its young employees to try new things and develop
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(Capitalone.com, 2018). Employees are not constrained to a single unit or line of business.
Furthermore, the company permits its young workers to foster curiosity and develop their
mindset in order to attain knowledge of other parts of the business and shift or expand their skills
to other units as per their passion towards specific areas of operation (Capitalone.com, 2018).
Exploring Leadership Styles to attract Millennial Employees
Long, (2017) has revealed that millennial employee exhibit a propensity to thrive in a
workplace environment which facilitates multitasking and the significant opportunity to work in
self-regulation. Thus leadership which emphasize on proper deliverable rather than focusing on
the process will fundamentally facilitate employees to perform within organizations from which
they can select their work preferences and successfully deliver accurate results to increase
organizational success (Sledge, 2016). Such a corporate culture will be identified as an optimal
environment for millennial workforce. Thus at this juncture, employers like MegaServe who has
been encountering critical attrition rate of young employees must change their current leadership
techniques to efficiently supervise the newly developed employee base.
Value of Transformational Leadership in Attracting Millennials
The theory of transformational leadership founded by James Burns deals with supervising
and stimulating employees to buy-in and accomplish organizational aims thus has emerged as a
popular theory across current globalized sectors (Barbuto Jr & Gottfredson, 2016). The
prominence of transformational leadership techniques has developed due to the revelation of
millennial employees regarding the association. As the transformational leader’s individualized
leadership approach essentially seek the expectation variations from the millennial employee in
relation to other generational employees. Furthermore, Long, (2017) has noted that
transformational leaders tend to assertively relate to the millennial employee’s needs and
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7EMPLOYEE MOTIVATION
expectations for sincerity and transparency.
Transformational Leadership in Attracting Millennials
Source: (Sledge, 2016)
Meanwhile, Campione, (2015) is of the perspective that in alignment with social learning
theory, transformational leaders will enable its employees to advance towards increased efficacy.
As assertive associations usually exist between transformational leaders and their subordinates
the top management team of MegaServe to proficiently create an ambiance of motivation as well
as high performance. Furthermore, author has explored that transformational leaders of
companies like Deloitte and Starbucks tend to acknowledge individualized approach towards
leadership. Through an individualized leadership technique, transformational leaders will be able
to proficiently set up communication base with employees as multilevel (Sledge, 2016).
Furthermore, strategies must be implemented by companies like MegaServe to accomplish
emotional needs and expectations of its employees and further form trust within corporate
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relationship.
Conclusion
Hence to conclude, it can be stated that MegaServe must successfully implement this
leadership approach whereby COO and leadership team of the company must operate with high
level of integrity and reliability. The report comprehensively evaluate the way leaders of
MegaServe must apply sustainability approach and transformational leadership techniques to
create assertive work environment where its young aged workforce can openly communicate
with each other and increase their job engagement towards the company.
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References
Aguenza, B. B., & Som, A. P. M. (2018). Motivational factors of employee retention and
engagement in organizations. IJAME.
Barbuto Jr(Jay), J. E., & Gottfredson, R. K. (2016). Human capital, the millennial's reign, and the
need for servant leadership. Journal of Leadership Studies, 10(2), 59-63.
Calk, R., & Patrick, A. (2017). Millennials through the looking glass: Workplace motivating
factors. The Journal of Business Inquiry, 16(2), 131-139.
Campione, W. A. (2015). Corporate Offerings: Why Aren't Millennials Staying?. Journal of
Applied Business & Economics, 17(4).
Capitalone.com. (2018). Capital One Credit Cards, Bank, and Loans - Personal and Business.
Retrieved from https://www.capitalone.com/
Cloutier, O., Felusiak, L., Hill, C., & Pemberton-Jones, E. J. (2015). The Importance of
Developing Strategies for Employee Retention. Journal of Leadership, Accountability &
Ethics, 12(2).
Cravens, K. S., Oliver, E. G., Oishi, S., & Stewart, J. S. (2015). Workplace culture mediates
performance appraisal effectiveness and employee outcomes: A study in a retail
setting. Journal of Management Accounting Research, 27(2), 1-34.
Long, S. (2017). Exploring Which Leadership Styles are Effective with Millennial Employees.
Sledge, C. L. (2016). Influence, Power, And Authority: Using Millennials' Views To Shape
Leadership Practices. Air War College, Air University Maxwell AFB United States.
Sledge, C. L. (2016). Influence, Power, And Authority: Using Millennials' Views To Shape
Leadership Practices. Air War College, Air University Maxwell AFB United States.
Stewart, J. S., Oliver, E. G., Cravens, K. S., & Oishi, S. (2017). Managing millennials:
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Embracing generational differences. Business Horizons, 60(1), 45-54.
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