Business Research: Workers Retention in the Companies

Studies reveal that the employees resign from the services of the company due to many reasons. Some of the reasons which forces the employees to resign from the job includes improper working conditions, inequality in the treatment of the workers, poor technology to name a few (Bode et al. 2015). Hence, the company needs to engage the employees in more productive work to retain them. Some of the factors that would improve the chances of high retention of employees in the company consist of the following: improvement of the working conditions, improvement in the technology to be used by the employees, providing incentives to the workers, equality in the treatment of the workers and secularism (Bova et al. 2015).

Studies highlight the fact that there is a positive correlation between engagement of the employees and the retention of the employees in the companies. The turnover or profit of the company increases when the company encourages its employees to engage in productive work (Frey et al. 2013). The following are the strategies the company can follow to hold back their employees:

1. Recognising the employees: The Company should have a policy for rewarding the employees who have contributed to a large extent to the profit of the company. There should also be a provision for giving incentives to the workers.
2. Providing a clear career path: the company should make it very clear to all its employees what the company wants and expects from them.
3. Corporate social responsibility: The organisation should contribute in something that would affect the society and environment in a positive way. This would encourage employees to work with them (Edmans 2012). 

Research Questions

The literature review of the topic helps the researcher to frame some questions that he would answer in his study. The following are the research questions that the researcher would answer in the study:

1. What effect do the allotment of rewards and prizes to the employees have on employee retention of the company?
2. What is the relationship of commitment of the employees, the remuneration that they receive and the performance of the employees to the retention of the workers by the company?
3. How can the employees’ commitment to his work help in achieving the aims and objectives of the organisation?

Description of Research methodology and techniques

The researcher would conduct the study going through the following for stages:

1. Enquiry of the topic: Firstly, the researcher would inquire and investigate about the topic. The researcher would review some of the literature articles and journals that are available on the topic.
2. Data collection: The researcher would collect both primary and secondary data for doing the research. The researcher would collect secondary data from the literature review and from other sources like the internet or from websites of the organisation. The researcher also collects primary data by conducting interviews of the relevant subjects (Thomas et al. 2015).
3. Organisation of the collected information: the researcher validates the collected data and performs data analysis. The analyst analyses the data by employing both qualitative and quantitative analysis techniques.
4. Presentation of the outcomes of the research: The researcher finally presents all his findings of the research in a proper manner that would benefit the employees as well as the organisations as a whole (Bryman and Bell 2015). 

Gantt chart

The Gantt chart gives the details of the time that each of the important milestones of the research work would take to complete. The following is the Gantt chart of the research.

Description of the research process

The research process includes a step by step procedure in which the researcher would conduct the research work. The first step that the researcher would follow is to identify the aim of the research. After locating the sources of the data, the researcher conducts surveys to collect the information from the sources. The researcher first selects the sample of the people on whom the interview would be conducted. The researcher utilises some random sampling technique to select the sample (Corbin and Strauss 2014). The interviewer conducts the interview using a questionnaire that contains questions on the topics related to the study. After collecting the data, the researcher purifies and validates the data and then analyses the data using some suitable data analysis technique (Creswell 2013). Finally, the researcher shares what outcomes of the research he expects from his study.

Description of data collection and analysis techniques

The researcher would collect the secondary data required for the interview. The researcher would go through the journals or articles available on different sources. This would help the researcher gather information about the topic (Ott and Longnecker 2015). The experimenter would collect primary data from the employees and managers of different organisations through questionnaires. The data that the experimenter collects from the employees and managers comprises of the quantitative data (Gale et al. 2013). The researcher analyses the data using suitable quantitative data analysis techniques. The researcher takes help of some statistical software like SPSS, R, STATA to calculate certain measures of descriptive statistics like median, mode, mean of the data. The researcher may perform some qualitative tests on the qualitative data that is collected from the other sources (Gelman et al. 2014).

Expected research outcome

The researcher expects that his work would help the employees as well as the different organisations. The experimenter expects that his work would show new ways to the organisations to retain their employees. The research would give new opportunities to the business firms to innovate and find out new ways to improve the work conditions for the employees. 

Conclusion

The report on the business research proposal describes many new areas of the retention of the employees by the business organisations. The research would pin point the reasons why different organisations fail to retain their employees. Hence, the findings of the research would help the organisations to improve the conditions that would hold back the workers from resigning from the service.  

References:

Bode, C., Singh, J. and Rogan, M., 2015. Corporate social initiatives and employee retention. Organization Science.

Bova, F., Dou, Y. and Hope, O.K., 2015. Employee ownership and firm disclosure. Contemporary Accounting Research, 32(2), pp.639-673.

Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA.

Corbin, J. and Strauss, A., 2014. Basics of qualitative research: Techniques and procedures for developing grounded theory. Sage publications.

Creswell, J.W., 2013. Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications.

Edmans, A., 2012. The link between job satisfaction and firm value, with implications for corporate social responsibility. The Academy of Management Perspectives, 26(4), pp.1-19.

Frey, R.V., Bayón, T. and Totzek, D., 2013. How customer satisfaction affects employee satisfaction and retention in a professional services context. Journal of Service Research, p.1094670513490236.

Gale, N.K., Heath, G., Cameron, E., Rashid, S. and Redwood, S., 2013. Using the framework method for the analysis of qualitative data in multi-disciplinary health research. BMC medical research methodology, 13(1), p.117.

Gelman, A., Carlin, J.B., Stern, H.S. and Rubin, D.B., 2014. Bayesian data analysis (Vol. 2). Boca Raton, FL, USA: Chapman & Hall/CRC.

Haar, J.M. and White, B.J., 2013. Corporate entrepreneurship and information technology towards employee retention: a study of New Zealand firms. Human Resource Management Journal, 23(1), pp.109-125.

Hancock, J.I., Allen, D.G., Bosco, F.A., McDaniel, K.R. and Pierce, C.A., 2013. Meta-analytic review of employee turnover as a predictor of firm performance. Journal of Management, 39(3), pp.573-603.

Ott, R.L. and Longnecker, M., 2015. An introduction to statistical methods and data analysis. Nelson Education.

Patel, P.C. and Conklin, B., 2012. Perceived Labor Productivity in Small Firms—The Effects of High‐Performance Work Systems and Group Culture Through Employee Retention. Entrepreneurship Theory and Practice, 36(2), pp.205-235.

Thomas, J.R., Silverman, S. and Nelson, J., 2015. Research Methods in Physical Activity, 7E. Human Kinetics.