Retaining best employees is somewhat crucial for organization's development
Retaining best employees is somewhat crucial for organization's development. How managers can use an integrated model of motivation to enhance productivity and human resource maintenance?
The purpose of preparing this essay is to discuss retaining best employee is somewhat crucial for organization's development. This essay also focuses on the way managers can use an intrigated model of motivation to enhance productivity and human resource maintenance.
In the present scenario, Human resource is one of the most vital assets for a company. The world has now realised that the human capital of a company has to be treated with care, or else the company will be the loser in the end. There is nothing more valuable in a company than a valued employee who has been providing them with their priceless service. A newly recruited employee is nothing compared to an experienced, valued employee who has been working for the company for a long time. This is true for many reasons:
First of all, research has shown that it is 35% more expensive for a company to recruit a new employee than to retain an old one.
Experienced employees knows a lot about the ins and outs of a company and that knowledge can never be replaced with a new recruit, no matter what the new employee's qualifications are.
If an experienced employee resigns from an organization, to replace that employee with a new one costs a lot of loss of time. Because, not only that the company then has to hire new employees, it has to train them to make them edible for the organization. This also results in loss of efficiency.
Therefore, a company should always look more to retain employees than to hire new employees to ensure efficiency and development. For that the company has to take care of their existing employees. The company has to realise that existing employees are true assets to the company, like any others valuable parts of the organization. The company's human resource management system has to always consider creating the best working condition for the existing employees. The existing employees should always be given the necessary and effective motivation, so that they can feel that it is worth working for the organization.
This report looks for ways to create that kind of motivation - how existing employees can be motivated to stay loyal to the company. This approach will ensure the company's productivity, efficiency and reputation to a positive direction.
Managers have to always motivate their employees to get the best performance. There have been a number of motivation theories - theories that were intended in developing a model that helps motivate people. Managers can take reference of those models, but ultimately it is their intuition and practical, personal...