The Critical Need For Employee Retention Business Essay Example

of retaining them through a positive work environment. The text also highlights the costs and risks associated with high turnover rates, such as the loss of loyal customers, decreased productivity, and knowledge loss. Quoting Kaye & Jordan (2003:121;109), the research aims to explore the significance of employee retention.Retaining employees is crucial as they possess valuable knowledge about various aspects of the company. However, this information can be shared with competitors, posing a risk to the organization. To prevent such information loss and benefit the company, it is necessary to analyze tools and methods that foster employee comfort, knowledgeability, and loyalty.

Effective communication between employers and employees plays a vital role in achieving this objective. Communication gaps can lead to disinterest among employees and potential departures from the company. Hence, communication is essential for success in any relationship within an organizational setting (Alessandra, 2003:135).

Managers should regularly conduct both formal and informal meetings with employees to maintain their interests and loyalty.It is crucial for managers to keep employees informed, preventing them from feeling excluded or left behind.

Training and development aims to improve the performance of individuals and groups within an organization by transferring or acquiring necessary knowledge, attitudes, and skills. This is important for existing employees as well as new recruits, helping them become familiar with procedures and equipment used in day-to-day activities.

Ultimately, training and development enhances employee capabilities through learning, motivating them and boosting morale to remain loyal to the company and perform better over time.The text highlights the importance of employee retention and its impact on organizational improvement. It emphasizes the need for employees to feel comfortable in their work environment to prevent turnover. Training individuals

to effectively interact with authority figures and diverse perspectives is crucial, as strained relationships can't be compensated by talent alone. Implementing timely training and development benefits employers by increasing productivity, loyalty, and contribution. Identifying training approaches aligned with employees' inclinations is essential for their growth within the organization. Face-to-face meetings play a role in encouraging employees, boosting morale, and strengthening their connection with the employer. The research aims to determine the significance of retaining existing employees for organizational improvement (O'Malley, 2000:54; Lawson, 2002).The importance of retaining efficient employees to minimize losses caused by high employee turnover is evident. Effective training and development strategies play a crucial role in ensuring that employees collaborate well with authority figures and individuals with diverse perspectives. These strategies also promote a friendly and comfortable environment, which encourages long-term commitment to the organization. The focus of my study involves examining research on the impact of training and development on employee retention. This discussion highlights how such initiatives foster trust and confidence among employees, employers, and coworkers, while also providing opportunities for promotions and rewards such as salary increases, thereby motivating continued dedication to the company.

In terms of research methodologies, this section will cover various aspects including the research process, methodological approach, research strategy, and data collection methods in relation to my topic. When it comes to research philosophies, positivism is an approach characterized by an external and objective researcher who maintains impartiality while collecting highly structured data from large samples. This approach aims to generate generalizations similar to those found in physical and natural sciences without relying solely on human beings for data collection purposes.However, my research requires communication with staff

and managers as it focuses on understanding the differences between individuals as social actors. This text aligns with the interpretivism doctrine, which emphasizes social engagement and subjectivity in research. Instead of relying on generalizations, this approach evaluates the underlying reality by focusing on situational details. Therefore, I will choose an interpretive research approach that allows me to be subjective and consider people's perspectives before drawing conclusions.

It is important to give proper significance to 'social histrions'. To address my research questions, I will conduct interviews and questionnaires with my co-workers without introducing any biased interpretation. The analysis of the gathered data will then serve to answer the research inquiries.

The text discusses the importance of different research approaches in enhancing knowledge. It highlights the collection of information, data, and facts to support research. In this study, the author plans to gather relevant data related to the topic and analyze it alongside previous studies in the field. They also mention utilizing questionnaires completed by colleagues and superiors for additional analysis.

Two types of research approaches are mentioned: inductive and deductive.
The text discusses the concepts of inductive and deductive research, highlighting their differences. The author chooses an inductive approach for their current research based on observations made while working at a company. They have developed a hypothesis that will be tested using data collected from interviews and questionnaires with co-workers. It emphasizes the importance of selecting the appropriate research methodology to avoid difficulties (Achenbaum, 2001:13). The section also presents a comparison between qualitative and quantitative research methods, exploring their general differences and similarities. It further analyzes the strengths and weaknesses of each method to determine which one is most suitable

for the study. Qualitative research focuses on attitudes, behavior, and experiences through methods like interviews or focus groups. Fewer individuals typically participate in this type of research but engage in longer interactions. On the other hand, quantitative research generates statistics by conducting large-scale survey research using techniques such as questionnaires or structured interviews (Davies, 2003:49).In summary, qualitative research investigates attitudes, behavior, and experiences using methods such as interviews or focus groups. On the other hand, quantitative research gathers statistics through large-scale survey research using questionnaires or structured interviews. Both approaches have distinct characteristics. It is worth noting that all types of research are ultimately grounded in qualitative principles, although some argue that pure qualitative data does not exist since everything can be categorized as either a 1 or a 0. However, the objectives of qualitative and quantitative research differ. Qualitative research aims to provide a comprehensive and detailed description of a subject by sorting its characteristics, assigning them numbers, and developing statistical theoretical models to explain observations. Researchers may only have an approximate idea of what they seek during this type of research. In contrast, quantitative research starts with a clearly defined focus and meticulously designs all study aspects before data collection begins. Researchers act as data collection instruments using tools like questionnaires or equipment to gather numerical data. Qualitative research seeks to understand subjective interpretations through participant observation and in-depth interviews while quantitative research concentrates on precise measurement and analysis via surveys and questionnairesQualitative information is often considered as "rich" but time-consuming with less generalizability, while quantitative information is more efficient in testing hypotheses but lacks contextual details (Malterud, 2001:183). For my research, I

prefer utilizing a combination of both methods to gather and analyze information. This allows for efficient hypothesis testing through quantitative methods, although it may overlook contextual details. On the other hand, qualitative methods provide rich subjective observations but are time-consuming.

To ensure a comprehensive approach to my research on employee retention strategies, it is recommended to use qualitative methods in the early stages and then switch to quantitative methods later on. Following this recommendation, I will employ a mixed methodology using questionnaires and interviews for data collection. To obtain reliable responses from participants who can be trusted, I will select coworkers as participants and use simple language in the questionnaires. Due to the relatively small amount of data involved, I will manually collect and analyze it.

Furthermore, I will discuss how validity, reliability, and generalizability apply to my proposed research work. According to Joppe (2000:11), reliability refers to consistent results over time that accurately represent the entire population under study.The reliability of a research instrument can be determined by its ability to produce similar results when used with a similar methodology. In my research, the instrument consistently measures results each time it is utilized, under the same circumstances and with the same subjects. This indicates that the measurement is reliable and repeatable. If other researchers were to conduct the same experiment under identical conditions, they would obtain the same outcomes, thus confirming the reliability of my research.

Validity, on the other hand, refers to how accurately a research study measures its intended target or how accurate its results are. Researchers typically assess validity by asking questions and referring to previous studies conducted by others. They aim to ensure

that their research produces desired outcomes and accurately represents the subject matter. In my work, both reliability and validity are demonstrated as consistent results are obtained by different researchers.

This emphasizes the importance of retaining efficient employees in order to enhance organizations and minimize costs associated with recruiting and training new employees. Furthermore, my work comprehensively addresses all aspects and analyzes all data expected from this research endeavorThe text discusses the importance of maintaining good interaction with employees and providing them with training in order to effectively adapt to new trends. It also explores the ethical implications of social research institutions and their efforts to protect participants' rights. Clifford & Marcus (1986) emphasize conducting respectful research that considers participants' freedom, fairness, and minimizing harm. As an employee at Mayes Travel Goods, I have easy access to staff and management for my research. Before conducting interviews, I will obtain consent from them and ensure the confidentiality of their responses. Building trust during interviews is crucial as it assures participants that their information will not cause harm or affect their job security. Having been a part of the company for four years has allowed me to establish relationships with my colleagues, making them more likely to trust me and be open with me. To manage time constraints, I have developed a project plan that provides clear direction for completing tasks during the research project. The research is scheduled to begin in mid-October 2010 and finish by February 2011. Collecting filled questionnaires within four weeks allows sufficient time for data analysis. By consistently following this project plan, all tasks should be completed by mid-February 2011 while adhering to budgetary

restraints. This research can be conducted with minimal funds as my colleagues will provide all necessary information.
This will also eliminate the need for additional travel expenses, as I often meet my colleagues at the store. References: - Vashistha, A. (2007), "Business Environment", The Wall Street Journal, summer, pp 7-8 - Guerin L. (2010), "The Essential Guide to Workplace Investigations", 2nd edition, Delta Printing Solutions, London - Branham L. (2005), "The 7 Hidden Reasons Employees Leave", 1st Ed., New York Publishers, US - Workforce Planning for Wisconsin State Government, Financial Times, fall 2005, pp 13-15 - Kotler P. (2010), "The Principles of Marketing", 13th Ed.

In their Training and Development (2008) report by Kaye B. and Jordan S., they emphasize the importance of training and development in business management.Communicating at Work by Alessandra T.(2003) offers valuable insights into effective workplace communication.O'Malley M.'s book from 2000 provides strategies for attracting and retaining talented employees.Remenyi D.et al's book from 1998 serves as an introduction to research methods in business and management.Gill and Johnson's book published in 2002 offers guidance on research methods for managers.Achenbaum (2001), Creswell (2003), Pine tree states (1993), Strauss and Corbin (1990), Davies (2003), Saunders et al.(2009), Becker (1998), Malterud (2001), and Clifford discuss various aspects of research in different disciplines.Achenbaum examines the difficulties of conducting effective marketing research, whereas Creswell explores techniques for designing research.The text discusses various authors and their works in the field of sociology, qualitative research, tourism studies, business research methods, ethnographic methods, writing about civilizations, and reliability and validity issues in qualitative research. Pine tree emphasizes the significance of narrative in sociology. Strauss and Corbin present procedures for conducting qualitative research

in their book on grounded theory. Davies investigates the role of quantitative and qualitative research in studying tourism within industrial settings. Saunders et al.'s book specifically addresses research methods for business students. Becker offers advice on approaching research. Malterud discusses the standards and challenges encountered in qualitative research. Clifford focuses on interpreting culture using ethnographic methods. Marcus' work "Writing civilization" explores the topic of writing about civilizations. Joppe's article "The Research Process" provides an explanation of the overall process of conducting research. Kirk and Miller discuss reliability and validity issues related to qualitative research