Employee Retention for Company Success - Milestone

Background of the Research

Overall success of the company is highly depend on its workforce because employees are the main pillar of the firm. In this, development of employees is important for organization as it assist in retaining them for longer period of time. As manager of the firm provide various activities such as training and development, performance appraisal and many more (Anitha, 2014). With the help of this firm easily attain better success at market place. In addition of this, the main purpose of this research is to assess the employee retention in order to reduce staff turnover. The Milestone Hotel is a five star hotel which provide various services to its guest as per their needs and wants. Main aim of this research is to examine the effectiveness of employees retention. In this manager of the company provide various development practices to workers to enhance their retention. This will contribute in attaining success at market place. Go check out Privatisation of goods and services - ALDI sample paper if you want business related sample paper.

Significance of the Study

Current research is based on employee retention as it helps in increasing the chances of attaining desirable growth in hospitality industry. Strong workforce is play vital role in developing as well as enhancing the brand image of the company because employees are person who provides quality services to customers as per understanding their requirements. By retaining employees, company can enhance their positive image (Coetzee and Stoltz, 2015). One of the main advantage of this is to save time and cost of the firm and at the same time. This will increase sales and profitability as well.

Research Aim

To ascertain the impact of employee development practices on employee retention in an organisation- A case study on The Milestone Hotel and Residences.”

Research Objectives

It is one of the important part to determine the different outcomes of the research as it helps in evaluating the overall results of the research. As case study is based on The Milestone Hotel to assess the overall purpose of the research. In this some main objectives of this research are as follows:

• To evaluate major employee development practices in an organisation.
• To analyse Relation shared between employee development and employee retention.
• To identify impact of employee retention upon organisational working.

Research Question

It is also an important part of research which is relate with its objectives. As it is important for investigator to develop as well as formulate effective research questions in order to draw a valid conclusion. Research questions of this research are as follows:

• How to evaluate major employee development practices in an organisation?
• How to analyse Relation shared between employee development and employee retention?
• What is impact of employee retention upon organisational working?

CHAPTER 2: LITERATURE REVIEW

Introduction

Literature review is one of the important part of research as it help researcher to undertake an effective research. With the assistance of this, investigator can draw a valid conclusion towards the research topic. For attaining the same, collected data should be relevant with the research topic. Basically it includes different authors who gave their views and opinion towards the research topic in order to attaining desirable end results. As it provide support to researcher to carry out the research for take appropriate decision. Along with this, researcher gather data and information towards the research topic by using secondary resources such as online articles, books, journals and many more. This will directly contribute in gathering detailed information through which investigator easily make an effective and valid conclusion. Get Law Assignment Help, if you are tired of getting low grades in your law assignments.

Evaluate major employee development practices in an organisation

According to Yeh, Y. P., (2014), Training and development programme is very important for an organisation so to improve the efficiency of employees. As it will make them capable in performing their task effectively. Some of the points that company incorporate for worker's development practice within an organisation is mentioned below:

• Creating an employment development plan: Employees perform their task according to their capabilities so it is essential that company knows needs and wants of workers. Here, development of plan is required through which managers can keep employees engage in executing their plans in a better manner. This will not only motivate workers but also give effective results in terms of skills and knowledge of an individual.
• Offer comprehensive, and regular feedbacks: Company must give 360-degree feedback to their employees so that they can have an idea about their performance. As a result it will help workers in bringing some positive changes in their behaviour. It will give company assurance about whether employees are moving towards right direction or not.
• Hire employees for giving them proper training and facilitate learning: In this employees must be given with opportunities of improving themselves and this can be provided by giving appropriate training in various fields. This will bring a tremendous change in employees regarding behaviour and way of performing a task.

Analyse Relation shared between employee development and employee retention

According to Deery and Jago, (2015),In this era of global competition employees plays an important role in providing maximum benefits to companies. Thus, companies are competing for hiring eligible workers who can easily perform their respective task. So, it is important that employees are given appropriate benefits in terms of salaries, medical facilities,bonus in time, performance appraisal etc., as a result it will help firms in retaining their workers in a better manner Therefore, enterprise must include effective measures for keeping their employees for maximum period of time. This can be done by knowing the satisfaction level of workers so that it can be fulfilled right on time as a result it will enable them in remaining in competitive market area for a longer period of time. Keeping worst candidates will not provide any benefits so on timely basis retention practice must be done through this company will get an opportunity of hiring suitable candidates for their business. Therefore, retention is considered as an long term relationship between employees and company so, it is necessary that entire process of retention is done effectively.

Impact of employee retention upon organisational working

According to Farooq and et. al., (2014),Worker's retention will give positive impact on company's performance as existing candidates know the entire procedure of performing the task in a better manner. They are habitual of the environment in which which they are working for a longer period of time. Along with this, eligible candidates will help company in attracting a large number of employees towards their organisation. In terms of company, they will have increase in their sales and profitability as old employees knows how to influence customers with their innovative thoughts and ideas. Other than this, it reduces the cost price of the production process because existing employees will find out a way for formulating strategies and plan of action. In context with new employees they will get a chance to learn from experience person which will as a result improve their skills and knowledge.

CHAPTER 3: RESEARCH METHODOLOGY

Types of Investigation

Research is the systematic method of collecting data & gathering knowledge in order to resolve the problem and find satisfactory result by doing proper analysis of all the facts & figure. There are different types of research methods which can further classified in two forms qualitative & quantitative research. Qualitative research involves study of social problems such as attributes, beliefs, human issues which can not be measured in the quantitative format. In this investigation, researcher have to understand human nature in depth to find the result of their problem. Quantitative research is the study of problem which is analysed by the researcher on the basis of numerical values with the usage of statistical techniques. Objective of the research emphasis on employing numerical models to get the required result.

Research philosophy

It refers to the way through which the researcher collects data and use it for analysing purpose in motive of achieving positive result in effective manner. It is further categorised into two separate parts such as interpretive and positivism. In Positivism research philosophy the researcher only collects the data from the observance which is is proven trustworthy as per his point of view. Collected data is checked before using it for further process. In addition to this, researcher oftens use previous observations in accordance to the current requirement. Interpretive research philosophy is based on assumptions of reality and done to collect information for achieving positive result. This type of philosophy more believes in qualitative investigation instead of quantitative one. Both the philosophy are focusing gathering appropriate information.

Research approaches

Research methodology involves different type of information which is used for the whole research. This data can be further used by the researcher to find relevant result in sequential way. In this report four kind of approaches are discussed which are explained below:

• Qualitative research approach:This approach is based on the data gathered by life experience and used to give useful meaning for achieving relevant outcome in systematic manner. Result of this approach are generally positive which helps investigator in attaining valid conclusion. In this approach researcher do not give preferences to the preset hypotheses instead of this they focuses on identifying the problem which need to be investigated.
• Quantitative research approach: This approach is based on collecting informative data on the basis of mathematical, numerical and statistical values. Data gathered by this approach is collected from surveys, questionnaire etc. which is analysed for the particular research. This approach is also termed as research on secondary data as researcher analyse on data which is gathered by someone else. Results of this approach are specified.
• Pragmatic research approach: This research approach can be termed as mixed methods of approaches as it involves different methods during the research process. Researcher freely use different techniques and methods in order to achieve valid conclusion. In addition to this researcher might start with qualitative approach and further continued with the quantitative approach as per the requirement of the research.

Research design

This section is also important which define pattern through which investigator carry out the study in order to attain positive results. As it includes objectives, cost, time and another methods to conduct the entire research activities. Mainly, it divided in three section like exploratory, descriptive and experimental. All these are effective in which researcher use descriptive research design in order to find valid solution of the issues in an appropriate way.

Data sampling

It is also an important an important part of research which helps researcher to collect data and information from customers. In addition of this, investigator select right sample to conduct the research. A sample size is choose by researcher in which they use various sources such as primary and secondary methods of data collection. In primary method, researcher collect new and fresh ideas to carry out study in order to attain desirable results. In secondary method, investigator use data which is gather by others. It includes books, articles, magazines and so on. For carry out this research, investigator use both methods. As investigator choose 30 respondents to gather data towards the research topic. Along with this, researcher design questionnaire to collect data with the purpose of drawing valid conclusion.

Data collection

It is also a another part which is important for researcher to gather data and information to undertake research. As there are two type of method which used by the researcher such as primary, secondary. Both are effective which helps in collecting relevant data towards the company products and services as well. In this primary method define fresh data to draw a valid conclusion and secondary method consider articles, newspapers, books and so on. As in this research, investigator use primary and secondary methods for draw a valid conclusion.

Ethical consideration

Under this phase, researcher face various issues at the time of carry out the research. Thus, it is important for investigator to effectively undertake research to draw a valid conclusion. In addition of this, researcher also make an appropriate ways to reduce the negative impact and complete the research. This will helps in attaining desirable results.

CHAPTER 4: DATA ANALYSIS

It is one of the important part of whole research as it helps in analysing the information and data in order to draw a valid conclusion. In this context, researcher use thematic analysis and select 30 respondents for gathering data.

Questionnaire Name: Age: Contact no.: Email id: Q1) What types of employee development practices are used by The Milestone Hotel? a) Create an employee development plan b) Offer comprehensive c) Hire to train and facilitate learning Q2) Is employees retention positively impact on organizational working? a) Yes b) No Q3) What are importance of employee retention on business activities? a) Increase productivity b) Enhance reputation Q4) What are the major ways to improve employee retention? a) Create the right culture b) Offer training Q5) What are different factors influencing staff members for retaining at workplace? a) Work Schedule Flexibility b) Health and Wellness Benefits c) Provide recognition and rewards Q6) Is employee retention beneficial for future development of The Milestone Hotel? a) Yes b) No Q7)What is the impact of employee development practices on employee retention in an organisation? a) Boost morale b) enhance productivity of workers c) Reduce staff turnover Q8) Is employee retention reduce conflicts among staff members? a) Yes b) No Q9) Is workers are satisfy with HR policies of The Milestone Hotel? a) Yes b) No Q10) Any recommendation for The Milestone Hotel to retain employees for longer time frame?

Theme 1: Employee development practices are used by The Milestone Hotel

Interpretation:From the above mentioned graph, it can be summarised that The Milestone Hotel use various employee development practices which helps in improving the performance level of the company. 15 respondents are said that, by creating an employee development plan company can easily increase employees retention.

Theme 2: Employees retention positively impact on organizational working

Interpretation: As per given graph, it can be summarised that employees retention positively affect the entire organizational working activities because it helps in making brand image more popular. In this 25 people are said that employee retention contribute in improving working activities of the companies.

Theme 3: Importance of employee retention on business activities.

Interpretation:As per given graph it can be evaluated that employee retention is more important for business organization to attain success at market place. In this statement, 20 respondents are said that it helps in increasing productivity level at workplace. On the other side, 10 respondents are gave their views towards the employee relation as it also enhance reputation at market place.

Theme 4: Major ways to improve employee retention

Interpretation: From the given graph, it can be evaluated that company use various ways to improve employees retention within the company because it directly contribute in attaining attaining their commitments. In this 15 people are said that by providing creating right culture also helps in improving their retention at workplace through which firm attain success. On the other side, 15 respondents are give their views that by proving training programs employee are improve performance and also retain within the company for longer period of time.

Theme 5: Factors influencing staff members for retaining at workplace.

Interpretation: From the above mentioned graph, it can be evaluated that various factors are influence the workers at workplace. This will helps in retaining employees for longer period of time. In this 15 respondents are said that providing Work Schedule Flexibility helps in retaining them within the company. One the other side, 7 people are give their opinion towards providing Health and Wellness Benefits to workers which may leads in attaining their satisfaction at workplace.

Theme 6: Employee retention beneficial for future development of The Milestone Hotel.

Interpretation: As per given graph it has been evaluated that employee retention is beneficial for business as it helps in providing future growth for enhancing performance level. In this 27 respondents are said that employee retention provide support to The Milestone Hotel to make their image popular in this they can enhance their profitability level. On the other side 3 people are not satisfy with this statement as it reduce the productivity level of the firm.

Theme 7: Impact of employee development practices on employee retention in an organisation.

Interpretation: Form the above mentioned graph is can be evaluated that employees development practices are positively affect on employees retention. As 18 people are said that by using development practices The Milestone Hotel boost their workforce morale as they easily execute their activities and at the same time they also retain with the company. On the other side, 7 people are said that, employee development practices helps in enhancing productivity level manager provide guidance to them at the time of performing task. In addition of this, 5 respondents are said that by implementing development practices company enhance employees retention and also reduce the staff turnover.

Theme 8: Employee retention reduce conflicts among staff members?

Interpretation: As per given graph it can be evaluated that employee retention is one of the important factor for business organization as it reduce the issues which arise at workplace at the time of performing their activities. In this context, 26 people are said that employee retention may helps in reducing the chances of arising issues because they work with a team and also effectively communicate with others. 4 people are not favour with this statement as they said that employees create issues at workplace.

Theme 9: Workers are satisfy with HR policies of The Milestone Hotel.

Interpretation:From the above mentioned graph, it can be summarised that HR policies are play vital role in encouraging workers motivation at workplace. In this 25 respondents are said that The Milestone Hotel use effective HR policies to retain them for longer period of time. As they enhance their profitability level by implement in workers activities. On the other side, 5 people are said that they fails in implementing effective HR policies which may create issues at workplace.

CHAPTER 5: CONCLUSION AND RECOMMENDATION

Recommendations

As per current scenario, it is recommended to The Milestone Hotel to use effective employee development practices which help them in retaining workers for longer period of time. This will helps in making a strong workforce through which hotel easily serve their services as per current requirements. Along with this, workers are consider as an important assets which contribute in developing their performance and morale as well. By providing them better training and development programs as per their performance, firm can enhance productivity level. In addition of this, company should make as well as develop effective plan to keep their worker motivate and happy. Manager should create the right culture for their workers so that they perform effectively. This will also reduce conflicts among all the workers. Hire the right employees is also beneficial for company as they put their efforts for making their company popular and at the same time also tries to create new ways to operate their activities. Provide guidance is also define positive impact on workers as manager take feedback from them towards the job activities which directly put positive impact on overall image of the firm. As all these will helps in attaining success at market place by retaining workforce for longer period of time.

Conclusion

From the above mentioned report, it can be evaluated that employee retention play vital role in increasing the chances of attaining success. Workers are consider as an main pillar for firm through which firm execute business activities in order to attain best results. As one of the main advantage of employee retention is that it save time and cost of the firm by enhancing their morale towards the job responsibilities. For attaining success, The Milestone Hotel invest on workers to boost their performance. This will increase strong workforce of the firm which directly contribute in increasing profitability level of the firm at market place. As current research is based on employees relation which directly contribute in enhancing the brand image. In this, manager of The Milestone Hotel use various employees development practices which increase the chances of reducing issues and obstacles at workplace. In addition of this, manage of the company also formulate an appropriate plan which contribute in attaining set goals and objectives. As per current scenario, it, is vital for company to provide development plan and guidance to make them capable to perform activities. As it enhance the productivity level of the company at market place and at the same time also retain them for longer period of time.

REFERENCES

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