Increase Employee Retention

As a manager the three motivational methods that should be used would be to provide monetary incentives, employee recognition, and training incentives. Monetary incentives are one method that can be used by a leader or a manager in his or her workplace, these incentives is to reward an employee for his or her outrageous work-related performance. These incentives may include such as profit-sharing within the company, stock options, performance bonuses, and scheduled bonuses. These different types of monetary incentives can increase the motivation of its workers and can lead to more productive, less absenteeism, and may improve one’s quality of service. Monetary incentives when awarded to one employee may also be a morale booster can also encourage other workers to improve his or her work performance, and maintain a healthy, friendly, positive work environment. A healthy workplace is a product of a successful and productive work environment. Working in this kind of economy, monetary incentives is the excellent method to use. However, these incentives may persuade others and may not to some; the result will be the same, increased quality work

This tactic helps those parents whose children that may not enjoy their weekly trips to the grocery store. The children now have a fun experience to associate with mommy or daddy grocery store trip. Mini shopping carts are also available for the children to get them involved in the shopping process (Bond, 2012). Another way Trader Joe’s motivates its employees is by providing higher pay and excellent benefits. Their employees make more than the average cashier or manager of any of its competitors (Speizer, 2004). Generous compensation and benefits can help boost employee morale. When employees feel like they are valued and compensated for the work they do they tend to be more loyal. This is better known as an extrinsic reward. These types of rewards lead to employees feeling positively valued (Schermerhorn et al., 2012). Lastly, Trader Joe’s motivates its employees by promoting from within. All managers at some point have been cashiers or floor salespersons. Therefore, Trader Joe’s has created the Trader Joe’s University so employees are able to receive the proper training so they are able to efficiently operate a store one day (Schermerhorn et al., 2012). By promoting from within, employees have advancement opportunities to look forward to.

We could gain an appreciation for their hard work and dedication to the company. Pay raises could compensate the employees for this dedication, along with bonuses and incentives. Incentives, whatever they may be, are a good way to celebrate the way that culture can influence employees so that they may embrace its importance and meaning.

Chern’s talent philosophy involves the retention and development of their employees. In a recent analysis of the turnover data, the executives learned that a disproportionate number of good sales associates had left the organization. These sales associates could have been potentially strong candidates for the department manager and assistant department manager positions. Chern’s uses supervisor recommendations and structured interviews to promote about 75 percent of their sales associates to department managers and assistant department managers. In the exit interviews the sales associates indicated that they were leaving because they didn’t feel there was the potential of reaching the managerial positions they wanted. This indicates that Chern’s efforts to communicate promotional opportunities and succession planning intentions to high-potential sales associates is not sufficient. Chern’s needs to improve their internal promotion practices to ensure high-potential sales associates are developed and retained or the managerial positions.

The second pillar, destination healthcare employer, aims at recruiting high performers and improving employee retention. The current rate of turnover at Tuality is high compared to other Portland Metro counterparts and training is expensive. Other plans for retention include providing a market competitive wage and benefits package. High visibility recognition will be seen featured more in the coming years with the initiation of the President’s Award and other programs aimed at ensuring employees feel valued. Mr. Berman strongly feels that Tuality employees are its most valued resource and it is apparent in his first years as the CEO that he wishes to improve employee satisfaction. On the other side of high performers, however, low

There is usually a multitude of different positions within an organization. The different positions are determined by the size of the organization. While many positions may have similar characteristics when it comes to performance and compensation many are also at opposite ends of the spectrum. Based on the position, companies may choose different methods of evaluating performance. Companies also choose different pay scales and incentives based on each position. Two positions that may be compared would be a triage nurse and an admission

technology. At the same time, we must give every student access to a college degree.

For the most part, attracting and retaining employees in today’s market is one of the biggest challenges that are faced by Human Resources. In today’s society, retaining employees is rather difficult as various employees are known to jump from job to job, almost always in search for more benefits or for their personal dream. Whatever the reason be, high turnover rates can be very expensive to employers as training and hiring one employee and then training and hiring a new employee requires time and money. According to Chron.com, it has been found that “employee replacement costs can reach as high as 50 to 60 percent of an employee’s annual salary.” As this is a one-time transaction, employees that are retained only “charge” the company once and so it is allowing more work for the dollar when the employee stays with the company for a longer time period. Companies that have high turn-over rates spend more money on employees which affects the bottom line of the company, this determines the state on how fast or a matter of if the company will use its money to expand.

Research indicates that employers can increase employee retention, increase employee productivity, and reduce employee healthcare costs by implementing a workplace wellness program.

Employee retention has always been an important focus for human resource managers. Once a company has invested time and money to recruit and train a good employee, it is in their own best interest to retain that employee, to further develop and motivate him so that he continues to provide value to the organization. But, employers must also recognize and tend to what is in the best interest of their employees, if they intend to keep them. When a company overlooks the needs of its employees and focuses only on the needs of the organization, turnover often results. Excessive turnover in an organization is a prime indicator that something is not right in the employee environment. We will look at

Keeping employees motivated in addition to creating incentives and/or additional ways for employees to receive more compensation will create better performance overall within an organization. Contrary if company B gives their employees incentives to perform, without any motivational tactics they probably will not have as many top performances as company A, in addition the company may only seek short term rewards verses have long term success. Lack of motivation for employees within an organization, can cause long term damage for the company’s success. Different things motivate everyone; therefore there should be a system in place to keep employees motivated for the long term success of the company. In the MBM textbook under the concept of incentives, compensation, and motivation, there are a couple of different views of how it should be applied within an organization. We will discuss The Social Role of Profit, Personal Profit and Losses, and the way Market-Based Management view how incentives, compensation, and motivation should be applied and the things that effectively drive employees’ actions while at work.

A great opportunity lay in employee recognition. Employee recognition will be nonfinancial benefits offered to employee. This non-financial benefit allows management to proper recognize and foster employee loyalty as well reinforce positive work behavior and encourage for repeat performance in all areas of the job (Henderson, 2006). Another non-financial benefit for employee is training. Training will allow employee gain additional knowledge and expertise and to be up to date with new technology open opportunity to advance in their career. These non-financial benefits allow management to make sure employees are value. Including employee in department meetings and allowing employee to have a say so in decision making demonstrates respect for employee and it allow the

A study completed by the University of Michigan revealed that as employee motivation improved, the a company’s stock reached higher subsequent returns the following year, spanning times both good and bad. As an example, in 2002 the Standard & Poor 's 500 returned negative 22%. Yet the study found that for every five points added onto a firm 's Employee Motivation Index--how the study kept score--it returned an additional 2% in stock price the following year (Serchuk, D. n.d.). Costco subscribes to this type of belief in that a satisfied employee that enjoys higher wages, potential for bonuses, job security and full appreciation for their work is not only recognized by management, but taken into consideration when promotions for other positions are considered.

Effectively their new employee orientation and training can pay big dividends in employee retention, employee engagement, corporate culture and customer satisfaction. Worth just to start taking customer service training. Employees who received the right customer training and welcomed at the beginning of his career on the choice of employer feel a good feeling to serve, pass quickly with colleagues and peers, and easy to carry new ideas. team right direction will also talk about your business to your family and friends. They will show more confidence in customers, business partners and suppliers. Those who do not have the right to start not tend to stay long, either. High staff turnover means that you always have to rent geared to recruit and train new employees. The turnover rate also takes a high toll on the morale of those who remain behind. When people leave your organization who they will inevitably ask remain when they have to find a new job, too. A guidance training program and customer service solid customer can reduce turnover.

Google is the most extensively used Internet search engine and provides Internet-related products and services, including Internet search, software and advertising technologies around the globe, include the desktop as well, with applications for web browsing, organizing and editing photos and sending massages. According to book of Bruce C. (2009), “Google has since expanded beyond its original mission of creating the best search engine to what it is today ” (p.33). Google began in1996 as a research project by Larry Page and Sergey Brin when they were both PhD students at Stanford University in California. The first name of Google was actually called BackRub which was on Stanford’s servers for a little over a year.