Overall Importance Of Employee Morale And Retention Management Essay

Organizations have to be familiar with the fact that retaining the employees it has found, can sometimes be even more hard than the enlisting procedure due to the difference in degrees of employee morale. This is the ground why one time an organisation finds that perfect employee ; it must make everything to guarantee that it will be able to retain that person in the company.

The importance of this issue is highlighted by the determination that 86 % of employers experience trouble pulling new employees and 58 % experience trouble retaining their employees ( Hale,1998 ) . Besides, the impact of losing indispensable employees increases significantly and causes productiveness diminutions, particularly in context of economic uncertainnesss and the ensuing corporate retrenchments ( Caplan and Teese, 1997 ; Ambrose, 1996 ; Noer, 1993 ) .

Therefore, the fact can non be disagreed to, that when a concern loses its employees, it loses accomplishments. Apart from this, the peculiar workplace-acquired expertness and cognition persons walk off with normally tend to take old ages to reinstate. Hence this is chiefly why employee keeping holds such great importance in the extremely competitory universe of today and this can merely be achieved if employees ‘ morale is kept high at workplace.

Chapter 3: Research METHODS

The research methods fundamentally reveal what processs were undergone in order to roll up relevant information required for the survey.

3.1 Method of Data Collection

As the subject selected was based on a Descriptive & A ; Causal research, accent was laid upon both primary and secondary beginnings of informations so as to garner elaborate information. Hence, for secondary informations aggregation, the research worker availed the chance of traveling through many articles, essays, write-ups and studies by different writers. Whereas, for primary informations, employees of different Bankss were turned to in order to obtain first manus information from them sing employee morale.

3.2 Sampling Technique

As the research revolves around analyzing the effects of keeping schemes on employees ‘ morale, convenience sampling was applied to make the intended beginning of primary informations. This was because as the list of respondents was non specified, information could be collected from the members of the sample population who are handily available to supply it.

3.3 Sample Size

As accessing the whole mark population appeared following to impossible due to certain restrictions, a sample size of 100 persons was surveyed, and consisted of people who fulfilled the following two standards: Persons working in one of the private commercial Bankss of Pakistan, Karachi to be more precise, due to certain research restraints ; either at top-level or middle-level.

3.4 Instrument of Data Collection

To ease the primary informations aggregation, a structured questionnaire was developed. This was segregated into 2 subdivisions, 5 subdivisions and 36 inquiries.

Section ‘A ‘ aimed to set up a general profile of the respondents, by geting information on basic demographic variables, i.e. gender, age, educational degree, appellation and matrimonial position.

Section ‘B ‘ aimed to first happen out about the respondents ‘ ’employee morale ‘ in their organisation, and secondly, five-point Likert Scales were used to happen about respondents ‘ perceptual experience about the impact of all five independent variables on the dependant variable, utilizing 5 statements each to mensurate their significance.

3.4.1 Validity and Reliability Test

The questionnaires were distributed indiscriminately to a little figure of respondents so as to measure the tool for truth, lucidity, equivocal inquiries, and guarantee its relevancy to the survey. Furthermore, SPSS 17.0 besides came in Handy here for technically look intoing its dependability, and the undermentioned tabular arraies were generated:

As per the above tabular array, the instance processing sum-up displays the overall figure of responses incorporated in the survey, while the dependability statistics of the questionnaire through the Cronbach ‘s Alpha value denoted that the responses were 85.3 % dependable.

3.5 Research Model

Based on the literature reappraisal in Chapter 2 of this survey, the following conceptual model has been developed:

The above theoretical account for the survey consists of ‘Employee Morale ‘ as the dependant variable as it can easy acquire affected by all the mentioned independent variables at any clip, and the five most effectual ‘Employee Retention Strategies ‘ as independent variables which may act upon the dependant variable.

3.6 Statistical Technique

As the research is based upon measuring the relationship between the dependent and independent variables, Categorical Regression Analysis was applied to prove the hypotheses, utilizing the SPSS package. The chief ground for using categorical arrested development was because the variables of the survey were of ordinal nature, hence this peculiar trial provided the most effectual consequences.

Chapter 4: Consequence

The statistical consequences obtained from the study questionnaire are discussed as per below, with relevancy to the hypotheses tested:

4.1 Findingss and Interpretation

As the Anova tabular array showed a sig value of more than 0.05 while proving H1, the theoretical account was seen to be unfit in order to continue to look into the significance of the variables from the Coefficients tabular array. However, from the Coefficients table the least important variables were removed one by one in falling order so as to look into if the theoretical account becomes fit after any of the remotions. At the terminal, even though Assorted Benefits had a sig. value of 0.003, the overall theoretical account was still unfit hence, H1 was non accepted.

While proving H2, the Anova tabular array ab initio showed a sig. value of more than 0.05 but after taking the least important variables one by one, the theoretical account finally became fit and it was discovered that ‘clear definition of ends ‘ has important consequence on employee morale. However, as the remainder of the variables were non found to be important, H2 was non accepted.

While proving H3, the Anova tabular array ab initio showed a sig. value of more than 0.05 and even after taking the least important variables one by one, the theoretical account still remained unfit to continue to the coefficients table. Hence, H3 was non accepted.

While proving H4, the Anova tabular array ab initio showed a sig. value of more than 0.05 and even after taking the least important variables one by one, the theoretical account still remained unfit to continue to the coefficients table. Hence, H4 was non accepted.

While proving H5, the Anova tabular array ab initio showed a sig. value of more than 0.05 and even after taking the least important variables one by one, the theoretical account still remained unfit. Hence, H5 was non accepted.

4.2 Hypotheses Assessment Summary

Based on the consequences obtained through the categorical arrested development analysis, the following tabular array was generated to show the sum-up of hypotheses proving:

No.

Hypothesiss

Status

1

A important positive relationship exists between ‘Compensation & A ; Benefits ‘ and ‘Employee Morale ‘

Not Accepted

2

A important positive relationship exists between ‘Corporate Culture ‘ and ‘Employee Morale ‘

Not Accepted

3

A important positive relationship exists between ‘Style of Leadership & A ; Management ‘ and ‘Employee Morale ‘

Not Accepted

4

A important positive relationship exists between ‘Employee Development Opportunities ‘ and ‘Employee Morale ‘

Not Accepted

5

A important positive relationship exists between ‘Rewards & A ; Recognition ‘ and ‘Employee Morale ‘

Not Accepted

Chapter 5: CONCLUSIONS & A ; RECOMMENDATIONS

This chapter of the survey entails the deductions and recommendations, treatments based on the findings in context with the past research findings every bit good as a note on range for future research.

5.1 Decision

The chief purpose of this survey was to size up the perceptual experiences of employees towards the effects of ’employee keeping schemes ‘ on ’employee morale ‘ . The five employee keeping schemes discussed in this survey were ; compensation & A ; benefits, corporate civilization, manner of leading & A ; direction, employee development chances, and wagess & A ; acknowledgment. Furthermore, in order to contract the range of survey due to research restrictions, the employees surveyed were those who belonged to the banking industry.

In order to roll up information on this country, a figure of beginnings such as journal articles every bit good as other publications were referred to roll up secondary informations. In order to roll up primary informations, a questionnaire was designed to obtain all the needed information from the employees. Then, utilizing convenience sampling, a sum of 100 questionnaires were distributed and the responses were used for informations analysis purpose through SPSS 17.0 package. Statistical analyses affecting categorical arrested development analysis was performed to prove the hypotheses and to detect if a important positive relationship exists between ’employee morale ‘ and each of the five ’employee keeping schemes. ‘ However, the consequence of the analysis indicated that none of the five keeping schemes had a important impact on employee morale, as per employees ‘ perceptual experiences.

5.2 Discussions

In contrast to the old findings by assorted research workers, the consequences of this survey displayed that employee keeping schemes do non hold a important impact on employee morale. However, when examined more closely, it was revealed that the chief ground for this phenomenon to happen as the fact that all of the employees who were surveyed had possessed a workplace morale that was either high or mean, hence it did non affair to them mostly if they were provided with more keeping bundles. Had this been the instance of employees holding slightly low workplace morale, responses would decidedly hold been different and in line with the past researches that have been undertaken.

5.3 Deductions and Recommendations

Not merely will this survey will add to the literature refering the impact of the five given ’employee keeping schemes ‘ on ’employee morale ‘ , it can besides be utilized by the HR directors of Bankss and even other organisations as the information given in this survey will assist them to better their ’employee keeping ‘ and do it a precedence in their organisations so as to hike their workers ‘ morale.

It is recommended that the Bankss surveyed should maintain a good accent on implementing keeping schemes so as to prolong the degree of employee morale that presently exists. Furthermore, those Bankss that possess employees with low morale should prioritise the execution of all the five employee keeping schemes in a proper and relevant mode, by apportioning sufficient resources to better these schemes so that employee morale could be increased.

5.4 Future Research

In order to travel beyond the research restrictions and carry out the survey on a broader graduated table, a figure of ways can be adopted. First, although the informations required for this survey was obtained from some of the major private commercial Bankss in Pakistan, which surely represent the features of all such Bankss, the samples were restricted to merely Karachi. Therefore, it is strongly recommended that for future research in the same country and field, the informations should be gathered from other metropoliss of Pakistan besides. Second, this survey highlights merely five major employee keeping schemes whereby at that place exist a figure of other schemes as good which are rather successful in retaining employees. Hence, farther surveies can be conducted including and discoursing about those schemes every bit good. Besides, farther surveies on the same subject can be undertaken, with a larger sample size so that the informations obtained could be more accurate and generalized to the chosen industry, giving even more accurate decision and findings. Besides, for this survey merely questionnaire study was applied, whereas interviews with employees would enable the other research workers to hold a deeper apprehension of employees perceptual experiences towards the effects of ’employee keeping schemes ‘ and ’employee morale ‘ . Last, this survey was made specific to the banking industry merely ; nevertheless, in future research workers may wish to research the perceptual experiences of employees of different industries excessively, particularly where the worker morale seems to be low.