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This compensation can come in the form of salary increase or bonus. If someone feels they are not being rewarded or even considered for an increase they very often look to move somewhere else that they can receive a higher salary.
A hostile work environment is also a major reason that employees felt demotivated. When an employee feels that their work environment is not safe or that they are treated unfairly they may often look to leave. Many times they do not try to confront the situation, but instead would prefer to just avoid it which greatly dissatisfies them and which would in turn prevent the organization from retaining its employees.
In this research study, the motivating factors which are not being implemented due to which Ufone is facing trouble to retain its employees
What are the motivating factors that will lead to employee retention at Ufone?
Rationale of the study
The basic premise for studying the Human Resource Management Practices (HR) and Employee Retention in relation to level of motivation of employees at Ufone is to assess the importance being attached to these vital aspects by the organizations concerned and to develop an understanding of the relationship between the overall manner in which motivation has subsequent impact on the willingness of the employees to stay with the organization.
It's the need of today for us to analyze the important role played by the ability of the organizations to retain competent employees for developing distinctive competencies for an organization.
This report can be useful for different people for organization and employers who are planning to retain talented employees and are faced by lack of employee turnover.
In today's emergent world, the Telecom industry is expanding immensely and the 2nd largest sector in Pakistan. It is essential to conduct research on telecom related topics in order to create a better understanding of the sector and help to increase the revenue generated from this sector for the government and for itself, having a positive effect on the economy too. Institutions are being reshaped to adjust to a postindustrial society.
Naisbitt suggested that motivational implications are very important; most of our economy continues to shift from manufacturing to service and information jobs. In an ever raging battle of surpassing each other, organizations with distinctive competencies out perform their competitors. To gain and maintain competitive advantage an organization uses every possible mean available to it in its battery of resources.
Marketers and multinationals would want their competent employees to stay within the organization, thus they would want to find out the motivating factors that lead to employee retention. The present research focuses on exploratory goals such as analyzing the motivating factors that lead to employee retention, which in turn effects the over all performance of the company.
To explore factors that lead to employee retention.
To analyze if working environment plays an important role in the motivation process
To access the recognition of work and its impact
To analyze the amount of influence training has when it comes to motivating employees
To find out what are the challenges and bottle necks preventing Ufone from enhancing the employee productivity and in retaining talent.
To find out the importance that motivation holds for employees in order to stay with-in the organization.
To asses whether empowerment and delegation of authority gives an employee a sense of responsibility
To explore if internal and external factor would help increase the motivation process
To analyze the amount of influence that motivation at Ufone has on its employees.
Scope of the study
This study is restricted to the motivating factors that would lead to employee retention at Ufone. In this research secondary data is obtained from sources such as published articles and reports while primary data is gathered through interviews and questionnaires survey from the employees of Ufone. This report can be useful for Ufone, its head of departments and the institutions which would bring into light the problems and how to prevent those factors that lead to employees being demotivated and how a company can retain its employees.
In the business world, motivation is the word used to describe the drive that impels an individual to work. A truly motivated employee is one who wants to work, if employees know what strengthens and weakens their motivation, they can often perform more effectively and help themselves find more satisfaction in their jobs. Employers also want to know what motivates their employees so that they can encourage continued peak performance (Halloran, 1986).
A lot of research has been done on the study of motivation and it can be traced back to the writing of the ancient Greek philosophers. Hedonism has given a basic assumption in the prevailing economic and social philosophies of Adam Smith, Jeremy Bentham, and John Stuart Mill who explained motivation in terms of people trying to maximize pleasure and minimize pain.
Motivation is a personal drive to act in order to satisfy one's needs. It comes from within the individual. It creates a drive to act, which may be influenced by some external stimulus.
Employee retention is an important factor in an organization's ability to achieve sustained competitive advantage over a longer period of time. Besides this aspect a failure to retain competent employees leads to a numerous other problems. Retaining good employees is critical to a firm's long term success. In the engineering and business markets, employee retention is extremely serious since the job market is tight and competition is very intense for candidates. The main factors in retaining employees include, corporate brand identity, employee intention to remain, organizational culture, self-esteem, need for achievement.
The cost of employee turnover adds hundreds of thousands of money to a company's expenses. While it is difficult to fully calculate the cost of turnover (including hiring costs, training costs and productivity loss) industry experts often quote 25% of the average employee salary as a conservative estimate.
When an employee leaves, he takes with him valuable knowledge about the company, customers, current projects and past history (sometimes to the competitors). Often much time and money has been spent on the employee in expectation of a future return. When the employee leaves, the investment is not realized.
Customers and clients do business with a company in part because of the people. Relationships are developed that encourage continued sponsor ship of the business. When and employee leaves the relationships that employee built for the company are severed which could lead to potential customer loss.
If an employee resigns then good amount of time is lost in hiring a new employee and then training him/her and this goes to the loss of the company directly which many a times goes unnoticed. And even after this a company cannot assure the same efficiency from the new employee.