This paper begins by explaining the importance of retaining critical staff. The paper then identifies ways that an organization could deploy to enable it retain its critical staff based on the issues raised by the motivational theories. …
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The paper tells that as businesses face the challenge of operating in a tough global economy they have been forced to perform painful layoffs while at the same time seek to retain their high-impact performers. One would expect it to be easier to retain staff amidst this period of economic recovery however the paradox is that there is a shortage of people with the requisite talent that companies need to remain competitive in this tough business environment. This means that the few critical employees that each company seeks to retain are also the ones who are attractive to competitors. The challenge therefore remains in retaining these critical staff. The importance of retaining critical staff cannot be gainsaid. When an employee leaves an organisation the organization loses primarily on the knowledge, skill and experience that the individual had developed over time at his/her present occupation. To fully comprehend the importance of maintaining critical employees Ramlall raises three postulations of the human capital theory. To begin with human capital theory posits that people possess skills, experience and knowledge which represent capital to an organization because they enhance productivity. This means that employees are of economic value to organizations. Secondly, the theory posits that not all labour is equal. Some labour is more valuable than others by the mere fact that more resources have been invested in their training. It is therefore important for the organization to ensure that it retains those on whom it has invested more in developing. Thirdly, investment in building skills among employees would be more profitable and more likely to be undertaken the longer the period over which the returns from the investment can accrue (Ramlall, 2004). This implies that an organisation would derive more value out of its staff if it can train them and then retain them for a significant amount of time within which the staff can use their skills, experience and knowledge to improve the organization’s processes. Employees possess skills, experience and knowledge, and therefore have economic value to organizations. Where employee turnover is high the company fails to realize a full return on its investment in hiring and training staff. This report reviews the classic motivation theories and uses them to explain how organizations could devise techniques that will enable them retain their high-impact employees. 2.0. Work motivation The heart of motivation is to give people what they really want most from work (Mullins, 2010). Motivation can be of
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Manpower shortage, especially skilled manpower shortage is a major problem in western countries like America, Britain, Germany, Australia etc. Organizations in these countries are outsourcing most of the jobs to cheap labour oriented Asian countries in order to compete effectively in the extremely globalized international market.
Employee motivation plays a significant role in the process of production. A reliable human resource depends on the way the organisations treats and reward them. According to Donna (2007) apart from rewards the human resource needs to be in a comfortable position to carry out daily company operations.
It often reflects the employees' belief in the mission and goals of the company, willingness to expend effort in their accomplishment, and intentions to continue working there.
Commitment is usually stronger among longer-term employees, those who have experienced personal success in the company and those working within a committed employee group.
The author of the essay presents some motivation schemes on a particular example with the assistance, Jonathan. Moreover, it is believed that satisfaction received from performing some job comes from achievement, recognition, advancement, responsibility, the work itself, and knowledge of the growth possibilities.
However, its behavior can be affected by a wide variety of factors that may alter the company outcome, income and the services that it offers to its consumers drastically. One of these factors, include the
Management should make it a priority to make employees feel valuable and create an all inclusive atmosphere. To reduce the costs of high turnover, effective human resource managers should implement strategies to retain employees and thoroughly
There are a number of ways for a company to motivate its employees, but the main similarity in all these methods is that they strive to make the employee feel that the effort he/she puts into their work will not only benefit the company alone
As the paper declares management Guru Peter Drunker came up with a theory called management by objective. Under this theory, return per worker is measured based on an employee’s ability to deliver on set metrics. An employee’s emotional aspects to performance are excluded from this approach to management.
The researcher analyzes Maslow theory and his five types of needs, which are triggered in a hierarchical way starting from the lowest to the highest. In employee motivation, the theory has made great impact in the field of organizational behavior and management in the way it has encouraged workers.
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