Applied Business Research ASSIGNMENT. # 01SUBMITTED TO: SIR MUHAMMAD MASOOD MIRStudent Name: Hassan Bashir – 9708 Nazim Ali – 10593 Dur -e- Shahwar – FactorsAffecting on Employee Retention Introduction:§ What is basicallyEmployee Retention?Employeeretention is the amount of time for employees to remain to the organization’spolicies and practices. Each organization has to invest time and money to trainnew employees and make him an off-the-shelf company, and his employeesmentioned in the same breath.
When an employee is fully trained and makeseparation from service the organization completely lost. Employee retentiontook into account the various measures taken in order to individuals in thelong stay within the organization.In the present case, the employeeretention has become the main concern. Once trained individuals tend to move tothe other organizations for better prospects. The well-paid salaries, acomfortable opportunity to better atmosphere, the growth prospects of employeeslooking for a change in the number of factors. As long as the talented staffexpressed its willingness to continue to move forward, Management and HumanResources team has a responsibility to intervene immediately to find out theexact reasons for decision-making. Need of Employee Retention:Letus understand why retaining a valuable employee is essential for anorganization.
§ Hiring is not an easy process:Humanresources professionals from a large group of people to filter out a fewindividuals, conduct preliminary interviews and eventually handed over to theappropriate line manager, allowing them to determine whether they areappropriate for your organization. Recruiting the right person for the job is atime-consuming process.§ An organization invests time and money in grooming anindividual and make him ready to work and understand the corporate culture: Anew staff is completely fresh and management really have to struggle to growhis overall improvement.
When a person suddenly leaves an organization, it is awaste of time and money is wasted. The human resources department must re-startthe recruitment process, repeating the same vacancy. The mere repetition ofwork. For an organization to find a suitable employee is a tedious task, whenthe employee leaves, all efforts will be wasted.
§ Why do Employees Leave?Research indicates that the majority of employees leave anorganization’s setback, with the parent or other team members. In some cases,low pay, lack of development prospects and the power to compel employeeslooking for a change. Management must make every effort to keep the system isvery important and is considered to be an effective contribution by employees.Managers and Managers have the responsibility to ensure that the employeessatisfied with their roles and responsibilities and work each day to providethem with new challenges and learning§ When an individual resigns from his presentorganization, it is more likely that he would join the competitors: In this case, employees tend to view the current organizationin all policies, policies are taken to a new organization. The individual willall of your important data, information and statistics available to their neworganizations and even, in some cases, disclosure of a secret organization.
Inorder to avoid this from happening, you must have new employees sign adocument, even if he leaves the organization, will not be able to pass anyinformation. Strict policies to prevent employees to join the competition. Thisis the effective way to retain employees§ The employees working for a longer period of time aremore familiar with the company’s policies, guidelines and thus they adjustbetter:Theirperformance than regular shift work. In an organization, for a very long-timeemployee understand both within and outside the organization, and therefore tobe able to contribute effectively.§ It is essential for the organization to retain thevaluable employees showing potential: Everyorganization needs hard work and talented staff, they really can createdifferent things.
If all of the top of the separation, any organization couldnot survive. Organizations to retain those who truly work hard and are anintegral part of the system is essential for employees.Management must understand what is valuable to theorganization’s contribution to the employee and is not much difference betweenthe employees. To sincerely encourage staff in the organization, remain happy,do not change. Problem Statement Today, employee commitment and retentionhas become an important strategy of the Organization. It is not only the bestand most talented employees is important, but it is equally necessary to retainthese employees for the organization and employees bring long-term benefits.The purpose of this article is to reviewthe findings of research papers of various authors to derive the factors thatimpact employee commitment and retention in a work environment This study examines the followingfactors.Effective Talent Management Strategies;Career Development Opportunities; Compensation and Benefits; Work Life Balance;Performance Appraisals by Authors (Dr.
Mita et al., February 2014). This study is limited in India.Significant relationships between organizational commitmentand employee retention factors like compensation, training and development andsupervisor support.
Dockel (2001) conducteda research in this regard however this research was specific to Telecom Industryand South African working environment. There is some more related study like Trainingand Development Compensation and Benefits Perk and Flexi Time.There are some morepoints which have never been researched in Pakistan specifically on IT Sectorlike Health Benefits; Work Life Balance;Problem with the Boss, Flexi work hours, Employee Engagement Activities, RoleModel at work & Work Redesigning Research Question 1. What are the top factors that drive employeeretention?2.
Which one is the most important and leastimportant factor among these? Research Objective § To Find out the impact of Health Benefits on Employee Retention§ To Find out the impact of Flexi Work hours on Employee Retention§ To Find out the impact of Employee Engagement on Employee Retention§ To Find out the impact of Role Model at work on Employee Retention§ To Find out the impact of Work Life Balance on Employee Retention§ To Find out the impact of problem with the Boss on Employee Retention§ To Find out the impact of Work Redesigning on Employee Retention Scope of Research § This research will help many organizations and general people withdifferent ways including students of universities and HR Department of anyorganization which can be greater scope and do betterment of the companies andthis will provide enough knowledge to those who can read and apply in hisresearch and add further to this research. Significance of Research § This research will help for IT Industries as far as now IT Department isgrowing with fast pace and for this HR Department of IT organization is assignedwith retaining high quality resources with duty of managing the Talent inaddition to its conventional function of providing good human capital to anorganization. To perform this role, they use the following methods viz.,Identifying the Talent which is required Right selection of him Talent Applyingcompetitive health benefits, work life balance, Flexi work hours, employeeengagement activities and compensation and state –of –the art performanceappraisal systems aligning the acquired Talent Developing and nurturing theTalent, and Retaining the Talent. Hypothesis 1 -) H1 – There is positive relationship between health benefits andemployee retention. H0 -There is negative relationship between health benefits and employee retention. 2 -) H1 – There is a positive impact of WorkLife balance on employee retention.
H0 -There is a negative impact of Work Life balance on employee retention. 3 -) H1 – Problem with the Boss is positively and significantlycorrelated with employee retention H0 – Problemwith the Boss is negatively and non-significantly correlated with employee retention. 4 –) H1 – Work Redesigning is positive relationship with employeeretention. H0 – WorkRedesigning is negative relationship with employee retention. 5 -) H1 – Flexi Work Hour is positively correlated with employeeretention H0 –Flexi Work Hour is negatively correlated with employee retention.