Research in Business Motivation Factor †Myassignmenthelpl.Com

Question: Discuss about theResearch in Business for Motivation Factor. Answer: Introduction Retention of employees is holding or trying to hold the employees in the organization. Retention of workers can be stated as the process wherein the employees are motivated and encouraged by their employers to stay in the organization for a longer period or until the project gets over with which the employees are related (Mowday et al, 2013). Retention of employees is both beneficial for the employees and the organization, the employee who is associated with the firm for a longer period is a depot of knowledge and the employee act as a valuable asset for the company. The organization start facing problems when there is high turnover retention in the company (ALDamoe, et al, 2012). The primary reason for the high turnover retention is that there are no positive factors in the company that motivate the employees to work with that particular organization (Hong et al., 2012). Increasing work pressure on the present employees and increasing turnover rate will cause the new employees to sh ift to some other organization. So it is very crucial for the organization to concentrate on these factors that help in retention of employees in the organization. Problem Statement There are several problems related to the retention of employees that all the organizations face in the current scenario. In the recent years, businesses have realized that their employees are the main assets, and they have also taken the initiative to encourage and motivate their employees to stay in the business for a longer duration or until the project, on which they are working get completed (Bryant Allen, 2013). When an employee leaves an organization, then it causes an imbalance in the company and also results in a loss. The primary aim of this study is to identify the factor that helps in the retention of employees in an organization. Factor such as job satisfaction, job security, compensation and reward to the employees and work-life balance help an organization in retaining their employees (Salome, et al., 2014). Objectives of the Research The main objectives of the study are listed below: To highlight different factors helping in employees retention in a company To evaluate the relationship between job security and employees retention To evaluate the relationship between job satisfaction and retention of employees To evaluate the connection between work-life balance and employees retention To highlight the connection between level of compensation with the employees retention To conduct a comparative analysis of the employee's retention depending upon their experiences at the workplace. Research Questions What are the different factors that help employees retention in an organization? What is the relationship between security in job and employees retention? What is the relationship between satisfaction in job and employees retention? What is the connection between work-life balance and employees retention? What is the relationship between rate of compensation and employees retention? Justification Retention of employees plays a crucial role in the growth of the organization, and there are several factors, that make the retention of employees possible (Sageer, et al, 2012). There are a lot of concern and needs that are associated with employee's retention in business. The HR profession spends a lot of time in choosing the individuals from a large crowd of talents. The HR profession conducts different tests and interviews, while choosing the employees (Schmitt, et al, 2012). When the company recruit a new employee, the management of the company invests every possible amount to makes sure that the new employee is ready for the job (Van Dyk Coetzee, 2012). Recruiting an employee is a tough task and involves lot of time and money, so when an employee leaves the job, it may affect the business adversely. There is also a huge possibility that the employee may join the rival organization and thus, may result in leakage of valuable information, adversely affecting the previous organiz ation, so it is important for the employer to make the worker sign an agreement (Nwokocha Iheriohanma, 2012). The Harsh employer will restrain its employees to join the firm of the competitor (Kumar Chakraborty, 2013). It is also important for the employees to abide by the code and conduct of the company and they also need to interact with the other members of the organization. A proper coordination between the team members will benefit the organization in achieving their objectives (Patel Conklin, 2012). It is also challenging for the employees, as they have to gain the faith of the company. The employees, who are associated with an organization for a longer period, are considered loyal to the company (Robinson et al., 2014). The employees of the organization also get different benefits, which includes job security, compensation and rewards, job satisfaction and work-life balance. So the above discussion highlights the importance of employee's retention in an organization. Expected Outcomes of the Study The expected outcomes of the research will highlight the factors that help in employees retention in the manufacturing industry, and the different factors are job satisfaction, work-life balance, flexibility, rewards and compensation and job security (Buciuniene Skudiene, 2015). These factors will not affect the relationship but will improve the career opportunity, leadership, distributive justice, and reorganization. Among all these factors job security is the most critical variable that helps employee's retention in the industry (Aguenza Som, 2012). Satisfaction in the job is considered as the second most crucial variable in identifying the factors that help retention of the employees in the firm. Then the third important factor is Autonomy ( Laschinger, et al., 2012). In the study the hypothesis of a positive relationship between security of job and employees retention is correct, so researcher accepts the null hypothesis. The second hypothesis which highlights a positive connec tion between rewarding employees and employees retention is also true, so researcher accepts the null hypothesis. Conceptual Framework There are several previous research conducted by several researcher, which highlights that there are many factors that can help in employees retention in an organization. Training and development, working environment, job satisfaction, reward system and justice in the organization are some important factors that help in retention of employees (Ashar et al., 2013). These are some important factors that reduce absenteeism and help retaining employees. Apart from these, there are some other factors, that are important, and they are job security, training, and work environment. Several studies have proved that work-place environment, rewards, and compensation, training and development are important motivational factors that help in retaining employees in the organization. In this study factors such as job security, work-life balance, compensation and job satisfaction are independent variables and the retention of employees is the dependent variable. These are the factors that motivate th e employees and with motivation the possibility of the workers to leave the job declines. And the independent variable job satisfaction is related to the independent variable retention of employees. Thus, it can be inferred that retention of employees will be dependent upon these factors (Heavey, et al., 2013). Security in the job will be helpful for the workers who are satisfied with their work, then the workers who are not happy with their job. The increasing dissatisfaction may result due to the growing insecurity among the workers. Different studies have highlighted that retention of the employees and job satisfactions are positively related (Sears et al., 2013). Hypothesis of the Research H1: security in job helps in the employees retention in an organization H0: security in job does not help in the employee's retention in an organization H2: the correlation between retention of employees in the industry and job satisfaction is positive H0: negative correlation between retention of employees in the industry and job satisfaction H3: Work-life balance and retention of employees have a positive relationship H0: No positive correlation between Work-life balance and retention of employees has a positive relationship. Methodology The methodologies that are used in conducting the study and solving the question are highlighted below: Literature Review This part of the study highlights the importance of employee's retention in an organization and the how it is beneficial for the organization. This part also highlights the theories and concepts related to this topic. Data Collection Method In this study to select the sample, the method of sampling is used. There are two methods of sampling, and they are probabilistic and non-probabilistic sampling method (Donley, 2012). To, reduce the biases, the random sampling method is used because its saves a lot of time. To conduct the study the researcher will select 50 employees of the manufacturing industry and three managers, which belong to the same industry for conducting the interview. The researcher will use a questionnaire for the purpose of research. While conducting the survey, closed-ended questions will be asked of the employees and the managers have to face open-ended question (Hughes, 2012). The employees and the managers have to rate in between 1 to 5, where 5 interpret the strong agreement, and 1 interprets strong disagreement, and during the survey, the employees provide their responses that motivate them to continue with the organization. And all the questions are prepared to keep in mind the motivational factor s of the employees. Focused Groups This research has particularly focused on the group of 50 employees of an organization. For the purpose of the study the researcher has performed quantitative data analysis, which will help them in collecting the perception of the employees and the interaction of human within the organization (Bryman, 2012). And the study has also included three managers of the organization, and the managers have to face qualitative questions. Data Analysis Method To conduct this particular study the researcher has used both the qualitative and quantitative analysis to collect the data. The data from the primary source has been collected using the qualitative method of data collection. In the study, the quantitative analysis of data will include bar diagrams and pie charts, which are prepared using, Excel sheets (Chandra Sharma, 2013). And for the research the researcher uses descriptive analysis. The different statistics that are calculated in the research are the mean, median and standard deviation. Together with the statistics the researchers will also perform correlation for all the factors that impact the retention of the employees. Organizing the Study The study has been organized in different in chapters, which are as follows: Chapter1: Chapter 1 includes the research proposal that is highlighted in the proposal. Chapter 2: in this particular chapter, factor that helps in retaining the employee in an organization is highlighted. Chapter 3: this particular chapter highlights the different methods the researcher used for the research purpose. The researcher made use of literature data collection, literature reviews, analysis of data and primary key indicators. Chapter 4: in this chapter information that will help in the discussing the outcomes that are research related are included. Chapter 5: in this different chapter information are included, which helps in highlighting the factors that help the organization in retaining their employees. Ethical Consideration It is paramount for the researcher to abide by all the ethical consideration for accomplishing the study successfully. The researcher also needs to make sure that he is utilizing all the collected data for the purpose of study only. The researcher cannot use these data for the commercial purpose. The researchers are also liable to protect the data under the data protection act. Different studies have also highlighted that increase in satisfaction reduces the employee's tendency to leave their present job, which in turn helps the organization in reducing the cost of recruiting new employees. The workers who are satisfied with their work will perform better than the unsatisfied employees. Satisfied workers are more efficient, creative and have a high chance to retain. Satisfaction in a job helps the organization to maintain a strong and stable workforce (Elnaga Imran, 2013). The flexibility in the workplace also plays a determining role in the retention of the employees. All the workers in an organization prefer working in a more flexible environment. If the workers are provided with flexible timings than it will enable them to spend more time with the family, thus helping the employees to manage work-life balance properly. If an organization has too much of restrictions than it would not be an encouraging environment for the employees to work in the organization (Brunetto et al, 2012). Grant Chart Primary actions First week Second week Third week Fourth and fifth week Sixth week Seventh week Selection of topic Reviewing the literature and study existing theory Methodology of the research Collecting primary data Analysis and interpretation of data Results Conclusion End task and submission Budget Proposed for the Research The total expenses for the research are 6000 dollars, for completing the study framework within the determined period, as it is highlighted in the Grant Chart. The resources for the literature review have been collected from various textbooks, journals and online resources. The researcher had to purchase the materials online or from other sources that are used for research purpose. And the total cost of purchasing the resources is approximately 2500 dollars. The data which are collected through the medium of the questionnaire also includes the cost of travelling, printing, and posting of the questionnaire to the workers. The medium of email is not used for this purpose because the email might go to the spam box. In the process, the researcher will question the respondent directly. And the area of the research is located far away from the location of the researcher, so all the expenses will sum up to approximately 2500 dollars. Accessing data from the government and analysis of the data should be completed with the given period and allotted budget. And the budget allocated for this purpose is 1000 dollars. Detailed Representation of the Proposed Budget Objective Estimated amount to be spent(in dollars) Reviewing the literature 2500 Data collection 2500 Data analysis 1000 Total Estimated Budget 6000 Conclusion The above assignment has enlightened us on the topic employee's retention in an organization. Retention of workers can be stated as the process wherein the employees are motivated and encouraged by their employers to stay in the organization for a longer period or until the project gets over with which the employees are related (Mowday et al, 2013). This assignment has also enlightened us on the different factors that help an organization in retaining their employees. Employee's retention plays a vital role in the development process of an organization, and they are the main assets of the company. Retention of employees helps both the organization and the employees. The employee who is involved with the organization for a longer period is the storehouse of knowledge. The assignment has also highlighted different factors such as security in the job, satisfaction in job, rewards and compensation and work-life balance which helps an organization in retaining their employees. 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