Employee Attraction and Retention - Event Workforce - Case Study Example

Employee Attraction and Retention (Name) (University) Executive Summary In a highly competitive laborenvironment,retaining and attracting employees has been the prime concern of many organizations. Inessence, companies aim at maintaining a highly skilled workforce in sustaining its competitive environment. Employees need to learn and understand various factors that affect careerdecision making and employer strategies in attracting the desired workforce. An empirical research was conducted on two companies, whose findings were used in the provision of strategies regarding sound employee management practice. Through suggestive initiatives and strategies, this retrospect paper seeks to analyze the problem linked to Event Workforce retention capabilities and possible recommendation strategies. Contents Employee Attraction and Retention 4 1.0 Introduction 4 2.0 Problem Statement 4 3.0 Company’s Overview 5 4.0 Literature Review 6 4.1 Attraction and retention 6 4.1.1 Communication 6 4.1.2 Organizational Commitment 6 4.1.3 Career Development 7 4.1.4 Training 7 4.1.5 Effective Employment Strategies 8 4.1.6 High Involvement Work Systems 8 5.0 Methodology 9 5.1 Instruments 9 5.2 Analysis 10 5.3 Findings 10 5.4 Challenges 11 6.0 Recommendation Action Plan 12 7.0 Conclusion 16 16 References 17 Employee Attraction and Retention 1.0 Introduction The need to attract and retain a highly skilled workforce is imperative. The incorporation of sound management practices has necessitated the need to maintain a highly functional unit. Evidently, organizations are constantly seeking new ways of attracting and maintaining highly skilled staff. Student empowering, on the other hand, complements the labor market in the provision of a skilled workforce. In the light of employment retention, Event Workforce has championed in the provision of adequate workforce that upholds its process functions. As such, the company demands the incorporation of strategies that retain its skilled workforce and at the same time maintain client’s confidence. 2.0 Problem Statement Employee retention challenges have emerged as important aspects in the future. Research suggests that, successful companies will be typified by the incorporation of organizational behavior of realities, which complement the contemporary work environment. As such, success and longevity will reflect on the creativity, innovation and flexibility in wide applications. In actual fact, the dynamics of work environment will constitute diverse reflection on individuals whose values and beliefs contrast in varying degrees. Subject to corporate downsizing, this phenomena is true, in the case when the impacts of the loosing employees is realized. Workforce analysis trend projects an impending increased shortage of highly skilled staff. This implies that the failure to retain the existing high performing workforce results to reduced productivity. Retention rates decline as the employees are continuously engaged in potential outcomes immediately following an organization change process. As witnessed in Event Workforce, the company has continuously to maintain an effective team that can sustainably function in a competitive environment. The company needs to propel its attraction strategies such that more highly-skilled workforce can be enrolled in their programs. Accordingly, the organization’s retention capabilities should be adopted towards the implementation of innovative platforms where the students or graduates can garner skills. Nonetheless, brand image will be requisite in developing knowledge among other individuals affiliated to the company’s organizational process. Identification of potential events in new areas needs to be developed with the aim of improving the number of staff required at the various point of industrial entry. The entertainment industry is comparatively dynamic as opposed to other industries. The changes in key functionality concepts necessitate for a highly functional team that addresses each concept with utmost care and professionalism. Undeniably, the consolidation of such strategies will alleviate retention and attracts more staff to the company. 3.0 Company’s Overview Event Workforce is an organization aimed at the provision of a casual workforce to clients in a number of industries namely; sport, events and entertainment. The company not only provides such innovativeservices but also consolidates career pathways for students in various professions. The organization aims at presenting an effective work environment with the help of an effective work team. 4.0 Literature Review 4.1 Attraction and retention It has been long noted that employee retention and attraction is central to an organization’s success (Shaw, 2001). Strategic analysis presents the relationship between management practices and a company’s effectiveness (Boselie, Dietz & Boon, 2005).The present trends showcase the redefinition of modern retention strategies that surpass the traditional benefits and salary package. Employee satisfaction is a significant aspect in retention. Empirical studies projects that retention is propelled by certain factors that need to be management effectively: communication, organizational culture, flexible work schedule, pay and benefits and career development systems. Companies offering development programs experience its success in employee retention. 4.1.1 Communication Effective communication strategies are significant in the improving employee identification with the affiliated agency. Hence, it improves in its honest culture and build openness (Gopinath and Becker, 2000). Accordingly, organization offer information relating to mission, strategies, value and competitive performance. Numerous companies function in providing essential information to the employees in a proffered communication strategy, through the incorporation of credible sources. 4.1.2 Organizational Commitment Committed employees remain with organizations longer as opposed to the less committed employees. Certainly, commitment is inversely and significantly linked to employee turnover. Therefore, commitment significantly impacts on job performance (Owens, 2006). 4.1.3 Career Development Career planning is not only significant in employee development program, but also it fosters a sense of ownership. Instead of promising a secure job, employers can commendably maintain the skills requisite for promoting viability in the job market (Eyster, 2008). Critical to incentivizing the employee is job flexibility which embraces life and career options. A growing trend is evident among employers in the quest of the job flexibility through life options (health and counseling services) and career options (mentoring, training job mobility and workstation). 4.1.4 Training Training is central to employee attraction and retention. Research evidenced the importance of training in a professional and personal development. Prendaadvocates that organizational cost savings benefits significantly outweigh an organization’s initial cost incurred in the training programs (Prenda& Stahl, 2001). Training methods are indispensable in engaging employeesthrough opportunity advancement, competitive wages, advancement opportunities and supportive work environment. The need to understand the factors of retention that result to an eventual growth (Agrela, et al, 2008). Retention strategies that satisfy the employee’s need are paramount in addressing employee satisfaction; thus enhancing the company’s ability to manage organizational change. Human resource management points that “motivation and “satisfaction” complement each other. Motivated employees are dedicating in performing various organizational functions. In this respect, all humans have needs that have to be satisfied. The introduction of Maslow’s “hierarchy of needs’ identify the various facets of human satisfaction. Secondary needs arising at specific stages in human life affect human behavior (Buchanan, 2002). For instance, during the learning and development stages humans need to be loved. In a nutshell, the physiological needs comprises of the basic means of living, having an overall impact onto other needs. Basic salary, physical comfort and working salary are pertinent aspects in the organizational context (Frith, 2008). Frithasserts that organizational leaders that act and perform on self-actualization, typified by an egocentric focus, are more likely to be narrow minded and ruthless to the employees (Frith,2005). Tentatively, aspects of social needs and esteem needs are pertinent in achieving satisfaction. Herzberg’s two factors theory, on the other hand, present a framework of management in comprehending factors that motivate and dissatisfy employees. Dissatisfaction can arise through company policies, employment, job insecurity and working conditions. 4.1.5 Effective Employment Strategies Gill (2006) affirms that the company’s performance with respect to good governance can be viewed through industry and public perspective, employer and employee perspective. An organization’s success can be significantly propelled through the employee’s perspective (strategies for effective operation) and employer’s perspective (safeguarding employee security) (O’Halloran, 2005). 4.1.6 High Involvement Work Systems The extension of efficient employment practices, Macky (2009) points that high performance work systems (HPWS) has been sidelined by high involvement work systems(HIWS), given its differential in “best practices”. Guest proposes an employee-centered approach that rests on the relationship existing between the employment practices and affiliated practices (Guest, 2002). As such, Guest approach centers on employee involvement on work practices and performances. HIWP is vowed to have extensive influence on an individual’s and organizational effectiveness as opposed to the objective assessment of the event. Business practices composed of flexibility, work design, training, flexibility and incentives are seen to complement organizational commitment, turnover intentions and job satisfaction. In this regard, such initiatives positively influence employee’s attraction and the likelihood of employment commitment (Brewster, 2007). 5.0 Methodology A descriptive survey was incorporated in the research methodology. The purpose of a descriptive survey focuses on the collection of detailed and factual information that offers sufficient information on the research question. In this study, a comparison was focused on retention management practices of two similar organization functioning in the same industry. Target This target group is the center of the employee turnover as seen in recent years. The population was obtained from two service industry in Australia. Hence, it is highly likely that the target group is responsible in the implementation of retention strategies. 5.1 Instruments A set of seven measures was incorporated in the study. A structured questionnaire was used in utilizing the seven measures namelytalent management programs, compensation, referrals, training,Good practice, career development, and organizational commitment. The first section of the questionnaire was collected information regarding age, sex, experience, position and marital status. Expert judgment method was applied in assessing the questionnaire’s validity. The developed questionnaire were presented to five managers and universities from different locations.Their inputs were included in the finalization of the questionnaire. Necessary amendment accompaniedthe revisions on pertinent questions. The final questionnaire consisted of 60 items, where the participant’s perception were central to the required data. The items measured the participant’s work behavior, perception and attitude linked towards the organization’s strategies. The questionnaire was filled by the middle managerial level of the both companies. 5.2 Analysis In determining the sufficiency of the sample size, Kaiser-Meyer-Olkin was used, as the Bartlet test of spheririty was consolidated in calculation of the correlation matrix. Consequently, an exploratory analysis was conducted through a maximum probability approach in the identification of the rate of loading variables. 5.3 Findings The second section provided an in-depth analysis of the questionnaire. Strategies used in attracting and Retaining Employees The respondents insisted on the incorporation of the competitive remuneration such as bonuses,allowances, overtime pay, profit sharing, cash in leave, share purchase, extra superannuation, car leasing among others that fostered such initiatives. The need for good working conditions is instrumental in the provisioning of adequate retention schemes in both organizations. 85 out of the 90 respondents articulated the importance of training and development opportunities in fostering an employee’s ability to attain permanent and secure employment. Tentatively, the participants emphasized on the use of the recognition systems in attracting and retaining employees. Career development accounted for about 97 percent of the organizations’ strategy in maintaining an operative and highly skilled workforce. Important of need for Change The main strategies that received remarkable response was strategies such as cross training, compensationand talent management programs. Improving the recruitment strategies, provision of opportunities and creation of competitive salaries received considerable response, given their importance in the change process. 5.4 Challenges Two major difficulties emerged from the participants; shortage of skills and the increased competition among the highly skilled participants. Markedly, the respondents advocated the difficulties experienced by small firms in competing for the highly skilled staff occurs due to inadequate financial resources, support and flexible working conditions –provided by multinational companies. Contrariwise, 75 percent of the respondents articulated the challenge of attracting staff residing in remote locations, which offer limited social activities. However, low cost of living and high wages are viewed as prohibitive. Two respondents advanced on this issue asserting that the negative image of the resource sector is realized through the environmental and community groups. As such, they showcased the flow-on effect in the attraction of the staff. Consequently, the lack of career paths, aging workforce and inadequacy of senior management opportunities contributed as major challenges. Compounded by the need to advance in the given industry, 87 percent of the respondents enunciated that the lack of senior management opportunities was a significant challenge. It was evident through the respondents that the lack of such opportunities subjects the employee to restricted promotions. Conversely, 98 percent of the respondents assured on the need constantly to improve the diversity of the workforce given the major changes in the dynamic market. The respondents proposed the need constantly to empower the employees aimed towards themaintenance of an effective competitive environment. Referrals and talent management practices accounted for about 85 percent of the participants’ response. 6.0 Recommendation Action Plan None of the respondents attested on the remuneration or tasks that were specifically appealing to the individuals in the sector. Essentially, while many individualscontendedon the best practices of retaining and attracting the highly skilled employees, a flexible platform that presents options on the team’s functionality should be created. Simply put, it suggests divergent values across the workforce. It is imperative, therefore,that Event Workforce incorporates creative thinking aimed at attracting highly skilled employees. This can berealized through the identification of key aspects of “proffered” employment strategies in divergent employee groups. Good practices Little empirical research exists on the importance of the union engagement. It is not evident whether the surveyed organization are cognizant with the need for improved accommodation of work balance. However, it is advised that companies improve their corporate image in highlighting the need for improved performance. Nonetheless, highly skilled individuals are inclined to companies with better corporate image. As such, Event Workforce should strive at improving the organization through a number of strategies. Since it functions in event planning initiatives, the company should, therefore, incorporate CSR strategies in various sectors. This will not only improve the company’s presence, but also improve the company’s brand image. It is strongly recommended that Event Workforce uses available internet ability in sharing available information. Thisaids the company to promote itself in a cost effective methodology. The inception of social networking has significantly improved advertisement strategies. Although EW has effectively set up its internet website, extensive networking capabilities should be incorporated such that it can reach remote areas in Australia and other regions. Ultimately, the company will be able to sustainably reach out to numerous client base and attract more staff to its team. On-line recruitment process that relies on the organization’sinternet website is effective due to its sustainable approach. Recommendation to enhance information systems will, therefore, improve the EW’s propensity to attract new staff members from all over the country. Compensation systems It is recommended that Event Workforce initiates a plan that suits the employee’s needs under different conditions. The design of various compensation strategies, rewards and recognitions systems and types of benefits offered should be a reflection of the employee’s interest. The recognition of the employee interests implies that the company recognizes the need for employee satisfaction at various operational levels. In response, the employees will be highly motivated to perform as an effective unit. On the other hand, the organizationan effectively pin-point the loopholes in its organizational performance. Underperforming employees can beretrenched or sucked. Based on the numerous events attended by Event Workforce, it is suggested that theincorporation of effective reward systems can attract new staff. As such recognition and rewards are closely linked to a particular workforce. Participation levels and willingness to carry out EW events can be considered in drafting its reward system. Cross Training Cross training has been a valuable tool as witnessed in the researched companies. Cross training ominously improves the company’s performance in a number of aspects. In a nutshell, cross training appears to serve twofunctions namely: (i) creates flexibility within which helps the organization offset the negative effects of turnover in the case when an employee departs from the organization (II) As with other types of organizational training, it enhances employability and skill level. Therefore, it is a significant tool in the realization of employment opportunities. In this regard, Event Workforce should consolidate such initiatives in the organizational practices. It will not only empower its workforce but also create new avenues where it can significantly garner client confidence. The effectiveness of such an initiatives will be indispensable when the organizational performance decreases. This will alleviate possible factors that impact the effectiveness of Event Workforce. Employment Referrals An informal recruitment strategy such as the incorporation of employment referral is important in effecting employment recruitment for competitive job candidates. Employees recruited from the job advertisement have a higher propensity of turnover as opposed to those who were recruited on the basis of referrals. It is, therefore, advised that Event Workforce utilizes the power referrals in attracting highly-skilled workforce. Talent management Programs It is highly likely that a higher number of organizations isincorporating talent management practices in the organizations to those without is evident. The respondents firmly agreed that the retention of a highly skilled workforce is based on having an effective talent management program. Therefore, many organizations have to embrace and internalize the basic concepts of talent management. In this reference, Event Workforce should consolidate talent management programs in its strategic implementation of retention strategies. An incorporation of such strategies would foster skill empowerment and the propensity to function with the aim of fostering the developed skillset in the organization. Through the talent management programs, the company can capitalize on the available organizational talent. Such talents, if well nurtured, can bring the best out of a person. Hence, it will help improve placement programs, where employees are well placed under tasks dictated by their skills. In the long run, Event Workforce can realize improved productivity and motivation to function within the designated or assigned tasks. The consolidation of effective management practice in improving employee retention and attraction can effectively propel a company’s sustainability. The various development stages at EW can be fostered by a motivated workforce. It is imperative that the organizational commitment, reward systems among others be effectively utilized. The company’s success can be nurtured through sound management practice. There is a need for the company’s HR department to step up its brand imaging application of sustainable practice. Evidently, the use of the recommended strategies will improve the company’s productivity. 7.0 Conclusion This research is indispensable in provision of strategies regarding employee management. The findings of this report should improve Event Workforce’s capability regarding its retention of highly skilled workforce. References Agrela, R., Carr, R., Veyra, V., Dunn, C., Ellis, D., Gandolfi, A., Gresham, B., King, L. , Sims, A., & Troutman, 1. (2008). Retention issues and solutions: tools to ensure University of California becomes an employer of choice. http://www.ucop.edu/cucsaldocuments Boselie P., & Boon, C. (2005). Commonalities and contradictions in HRM and performance Research. 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