Human Resource Management Assignment on Employee Retention Strategies
Task: There are two choices (will be announced) for Essay 3 – for example, the ‘X’ sector, or the ‘Y’ sector.
You will write an essay on the key challenges in attracting and retaining a workforce in your selected sector.
Your essay will draw on at least five themes from Week 1 to Week 11 of this unit, being those most relevant to your selected industry sector.
Your essay will draw on the academic literature (including the annotated bibliography you developed for Assessment 2), and develop an argument applying that literature to your selected sector.
The present study of Human resource management assignment is focusing on the several challenges encountered by organization related to employee retention on the grounds of augmented rivalry within the market. It is essential for the associations in hiring employees that are competent in gaining a competitive edge within marketplace. Nonetheless, retaining staffs of competent sort has been deemed more important than hiring new ones. Organizations are always on the search of talented staffs and indulge in spending money and time on their staffs for factors related to future returns. Aspects such as economy growth, turnover of employees along with lack of skilled personnel demands in designing schemes for augmenting retention of employees. It is generally hard to compute the exact price correlated with turnover for the associations. When any employee leaves an association, he/she brings out all the organizational information about the organization, projects, clients and previous history, very frequently to the competitors.
There are various exercises related to human resource (HR) engaged by the associations in augmenting the level of retention. This current study is aimed at monitoring the impact of such HR practices on the retention and hiring of employees. The associations are also apprehended on the costs associated with the turnover of employees that is generally 2.5 times greater than an individual’s salary (Naim & Lenka, 2018). Nonetheless, associations encountering employee turnover might not stand the cost of this condition in terms of monetary only.
Employee retention within telecommunications sector comprises of processes via which employees are enhanced in becoming an organization’s part for an extended period of time until the completion of the project or retirement of the staff. In order to attain organizational along with individual goals and objectives, it is stated being essential in retaining employees of talented sort. The HR manager within the telecommunications sector requires having knowledge on ways to attracting and keeping hold of good employees because such employees are the ones that can either make or break the goodwill of an association. Employee retention strategy that is successful does not depend on one strategy. The decisions related to the staying of an employee within the association is produced by certain aspects relying on various constituents such as the age of the individual, mentoring, the situation of the family, opportunities related to career and learning, networking along with good benefits (Birecikli et al, 2016).
1. Challenge to HR in Performance Management System:
Being the industry of service sector, telecommunication associations generally focus on the satisfaction of the customers and the overall business is stated being driven by customer. The cut throat rivalry poses a challenge within the aspect of employee retention. It is observed within the telecommunication industry companies that similar bunch of people keeps on shifting from one association to another in the same sector with augmentation in the pay package along with position. The challenge related to HR in employee retention in turn compels in highlighting the focus on the system of performance management design in ensuring the objectives of the organization alongside talent retention and attraction. In accordance to Anjum, Marri & Khan, (2016), the system design of performance management requires considering both the aspects of functional and behavioural performance in certifying overall profitability and the company’s growth making sure the individual performance appraisal of an employee and mechanism of reward are in place. The team of HR requires setting the mechanism wherein the rational key deliverables should be positioned as the target associated with performance estimation.
Designing the system of performance assessment in ensuring a balance between the two perception going hand-in-hand is stated being a bigger challenge for the HR people. For active system of performance management the performance accomplishment asserted by the employee also shapes the part of the attainment of supervisor. The system of performance management requires being able to distinguish the contribution of the individual at all the departmental levels. To certain degree the inefficiency is reasonable but the aspect of ethical issues cannot be reasoned. Therefore, as stated by Hanaysha, (2016), the HR team requires in integrating the target of behavioural performance as well. This will assess the development of the employees related to values, ethics along with transparency in an employee’s personal attributes that eventually will impact an employee’s overall performance.
In spite of proposing the system of performance management that confines behavioural and functional performances, the team of HR requires fitting in the overall appraisal within the bell curve. This is stated being a challenge in order to rate on the selected scale. All the group members cannot perform excellently at all given times on the scale of performance management. This places limit on the system of performance management in tracking and appraising the performance accomplishment of actual sort along with rewarding the real exceptional performance (Birecikli et al, 2016).
2. Learning, training and development program in telecom industry:
Within the field of human resource management, the aspect of learning, training and development is generally apprehended with the activity of the organization intended towards bettering the individuals’ performance along with groups within the organizational atmosphere. It has been otherwise known as development of human resource, learning and development along with employee development (Anjum, Marri & Khan, 2016).
The aspect of development keeps its focus upon the actions which the organization engages the individual, or of which the individual might be part of, might contribute in the future, and is stated being almost unfeasible to assess. When taking into account the means of lessening the turnover via retention strategies of employees, telecom associations require identifying the causes staffs are leaving. Employees might take a leave from their present jobs for several reasons, like lack of satisfactory supervision, feedback and the work being not that challenging.
One of the most significant things a telecom employer might execute in retaining employees is in offering them with proper training and development facilities. In accordance to Gallardo-Gallardo & Thunnissen, (2016), the demand for the aspect of training within association augments when the company demands in hiring new people, for purposes related to expansion when the organization desires in increasing the headcount and improving the performance of the employees.
There are various benefits related to the company’s training and development which helps in retaining employees. Some of them are discussed within this Human resource management assignment:
- Development of human resources: As opined by Naim & Lenka, (2018), training along with development of employees assists in offering an opening for the improvement of behavioural and technical skills related to human resources within an association. It also assists the employees in achieving growth at the personal level that will make the employees stay with the organization for a longer period of time.
- Development of employee skills: Training and development assists in augmenting an employee’s job understanding alongside skill at every level. It assists in expanding the human intellect horizons tagged with overall personality of the staffs
- Team spirit: Training and development related programs assist in implanting the sense of group work, collaborations of inter-team along with team spirit. It aids in encouraging the zeal to learn new things within employees (Rana & Chopra, 2019).
- Organizational culture: Programs related to training and development assists in developing and enhancing the health culture of the association alongside its effectuality. The same helps in producing a culture of learning within the association. A healthy organizational culture helps the association in retaining employees along with attracting more to work for them.
Theory of Experiential Learning:
Cognitive and experiential sorts of learning are being distinguished by the experiential theory of learning which is being illustrated by C. Rogers. In accordance to Rogers, a learner’s needs and wants are generally being addressed by such sort of learning. Experience holds key in giving a person maturity and augments the power of learning alongside understanding and knowledge. Due to the learner’s involvement personally, he is able to perform self-assessed tests that permits him in gaining knowledge on the consequence of the learning on the learner’s attitude (Kaliannan & Adjovu, 2015).
3. Recruitment and Selection strategies:
Recruitment and selection are stated being set of actions along with procedures exercised in legally obtaining enough qualified people at the right time and at the right place for the people and the organization to choose each other in their own interests. Recruitment along with selection offers telecom industries with a pool of job candidates who are possibly qualified from which selection of judicious sort can be made in filling up the vacancies. According to Dahie et al, (2016), recruitment that is deemed successful kicks off with proper planning of employment along with forecasting of the same. It is defined in this human resource management assignment that within the staffing process phase, a telecom company prepare plans in filling or eliminating opening related to future job based primarily on the evaluation of future requirements, the talent that is available internally and externally to the association, and the present and expected supplies that can be extended in attracting and retaining talent of such sort. Telecom companies have been developing precise descriptions of job in recent times. The telecom companies have been carefully reflecting on the roles which the individuals will fill, the set of skills that are required, the personality traits which are significant in finishing off the tasks and any appropriate experience which would distinguish one interviewee from another.
Adding to producing descriptions related to jobs, it is important for telecom HR people in developing a “success profile” of the idea staff for key positions within the telecom company that are stated being critical in executing the company’s business plans. In the present state, internet has developed into one of the leading destinations for posting openings related to job, though it is significant for HR managers in not overlooking the local newspapers alongside industry publications of targeted sort. Telecom industry managers, particularly the HR people requires depending on an assessment tool in helping them evaluate the key behavioural facets and speed of cognitive reasoning of the company’s job applicants. For instance, a good test will offer insights on whether the applicant is extrovert or introvert, uncompromising or agreeable, stable emotionally, insecure and open to new ideas (Hanaysha, 2016).
The success profile that has been generated for each of the positions will help the telecom companies in determining which behavioural attributes are significant for that position. For instance, a telecom company HR manager might expect a successful salesperson in being extrovert whereas someone filling up for the position of clerk might exhibit attributes of introvert (Sharma & Nargotra, 2018).
4. Employee Relations:
A telecom company that desires in succeeding within the industry of telecom needs to put emphasis on positive employee relations. Employee relations play a significant role where trust along with understanding might have a direct consequence on the climate and profitability of the business. As employees usually expend most of their working hours each day in office and bulk of their days within each week at their allotted desks, it is important for the employee to develop certain kind of relationship and bond with the company management, executives along with the colleagues. A health employee relation goes a long way in retaining old employees along with creating a solid one with the new ones. If no time is being spend on making an effort in building an understanding, there is no healthy association ascertained and the organizational performance along with productivity is bound to decrease. It has been observed in this human resource management assignment that employees that are engaged and happy generate the best work (Sultan et al., 2019).
In-charge of employee relations efforts: Someone needs to be in-charge of the surveys related to employee engagement alongside employee satisfaction or the telecom companies might lack means of tracking when the morale is stated being high and during times when it is low. If certain telecom companies do not indulge or make efforts in tracking the employee satisfaction or engage their staffs will unquestionably have high rates of turnover. According to Sharma & Nargotra (2018), those who have taken the initiative in staying on top of the satisfaction of employees leave the job to the managers and departmental heads of the HR. There are simple means and more occupied ways for HR managers in developing satisfaction amidst the employees that goes a long way in establishing their foothold within the association and create a bond that at times become unbreakable. The overall process initiates with the group, where employees expend bulk of their time along with keeping the flow of communication open with most of the organizational colleagues.
According to Kaliannan & Adjovu, (2015), managers might ask for inputs alongside identifying the performers which will enable the telecom companies to make the work more interesting alongside rewarding. More means for telecom organizations in reducing the turnover while still remaining lucrative is to proffer opportunities for career development whilst still encouraging a balance of work-life. It can be stated that investing within efforts of Employee Relations is usually investing within the brand.
Human Relations Theory stated within the current human resource management assignment bases its principle on the aspect that men possess social needs, wishes in rewarding the relationships at workplace and responds more to the pressure of the peers then to the administrative and authority control outlines its key contribution for the management. It is generally from here that materialize a new sort of management more apprehended in identifying the group and individual needs and search out for effectiveness and output via motivation, leadership along with communication (Dahie et al. 2016). On the contrary, it is also from the theory of Human Relations that surfaces the concept of informal organization.
5. Human Resource Strategy:
Dealing with retention of employees involves strategic activities in keeping employees encouraged along with being focused for them to elect in remaining employed along with fully productive for the organization’s benefit. As stated by Rana & Chopra, (2019), a comprehensive program related to employee retention usually plays a key role in both retaining and attracting employees who holds key for the telecom companies, as well as in lessening the cost aspect and turnover. All such things contribute to the productivity of an association along with the overall performance of the business.
Job satisfaction amidst employees along with aspects of engagement is stated being major ingredients of programs related to employee retention. The significance of addressing such aspects is apparent, but performing the same in actual manner consumes a lot of time and are frequently left for the next day. Nonetheless, the recompense of focusing on the retention of employees related to augmented performance, morale of employees, productivity and work quality, adding with lessening in both employee and turnover related issues- is well worth the financial investment tagged with time. The bottomline is that by dealing with the aspect of employee retention, associations will retain employees who are motivated and talented and who really desire being part of the association and are focused on contributing in every way possible to the overall success of the association (Dahie et al, 2016).
Best practice approach:
This method described in the human resource management assignment is generally based on the supposition that there is a set of best exercises within HRM which are universal in a way that they are deemed best under any circumstances, and that if adopted by the telecom companies will generally lead to better organizational performance (Sultan et al, 2019).
The following are some of the ‘best practices’ which have been generated and are as follows:
- selective recruitment
- security of employment
- teams that are self-managed
- training for offering a motivated workforce that is also skilled
- sharing of information
The following aspects have been drawn by Gallardo-Gallardo & Thunnissen, (2016):
- Designing of jobs for certifying commitment, flexibility along with inspiration, inclusive of steps in ensuring that staffs possess the accountability alongside self-sufficiency in exercising their skill and knowledge fully
- Deciding on and the cautious practice of selection tests in categorizing those having bigger potentials in making a positive contribution
- Communication in making sure the two-way procedure continues on making each employee fully knowledgeable.
From the above discussion in this Human Resource Management assignment, it can be concluded that employee development has always been an area of concern for telecom companies that affects the retention of key resources. Setting up training programs which focuses on the collaboration and communication part of their employees and managers is deemed important from the viewpoint of both the organization and its employees. The outcome of the same is development of employee, developing work effectiveness of the individuals alongside succession planning. Human resource management assignments are being prepared by our human resource management assignment help experts from top universities which let us to provide you a reliable assignment help online service.
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