M4S1 Retention and Motivation Flashcards
Ensuring this is a crucial element of maintaining a thriving organization.
Employee retention
- commonly referred to as turnover.
Employee Departure
- Both direct and indirect expenses are associated with turnover, encompassing the costs linked to finding a replacement, the decline in employee satisfaction,
and the potential loss of customers.
Employee Departure
13 Reasons why employees leave
- Poor and ineffective leadership or management
- Conflicts supervisors or managers
- Workload
- Job mismatch
- Perceptions of unfair treatment
- Lack of opportunities for career advancement
- Internal pay equity issues
- Non-competitive compensation/benefits compared
to industry (Equity theory) - Personal issues
- Conflicts company mission and values
- Feeling unappreciated
- Relocation of partner/spouse
- Low job satisfaction
Five Work-Related Motivational Theories
HMHMC
Hawthorne studies
Maslow’s theory on motivation
Herzberg’s motivational theories
McGregor’s motivation theory
carrot-and-stick approach
People were motivated when felt
cared for - This suggests that organizations should prioritize making employees feel valued and developed for better retention.
Hawthorne studies
Make employees feel appreciated and valued
Hawthorne studies
A need with no longer motivate someone if it is already fulfilled
Maslow’s theory on motivation
companies that solely address low-level needs like salary may miss out on motivating employees at higher levels, such as self-actualization, through opportunities like training.
Maslow’s theory on motivation
- Differentiate between hygiene factors and motivation factors.
- Hygiene factors are those things, that are expected in the workplace and can affect the motivation of
employees.
Herzberg’s motivational theories
___ are things that can dissatisfy
employees
Bare minimum
- Relying solely on hygiene factors can lead to high turnover. Effective retention strategies should consider both hygiene factors and motivation factors.
Herzberg’s motivational theories
managers’ attitudes toward employees, with
theory x being more negative and theory y more
positive.
train managers to adjust their attitudes
can be a key retention strategy.
McGregor’s motivation theory
motivating people by offering incentives or applying pressure.
carrot-and-stick approach
a series of systematic HR practices
designed to foster an environment where employees are actively involved and take on greater responsibilities for the organization’s success.
High-performance work systems
Retention Strategies
Salary and benefits
Training and development
Performance appraisals
Succession plans
Retention Strategies
A retention plan/Compensation strategy incorporating clear, fair pay structures and transparent procedures for awarding raises.
Salary and benefits
address the higher-level needs of individuals. Many companies provide options like tuition assistance, reimbursement programs, and in-house training to enhance employee skills and knowledge.
Training and development initiatives
provide an avenue for feedback and goal setting. They also allow for employees to be recognized for their contributions.
Performance appraisals
allow employees to see how they can continue their career with the organization, and they clearly detail what employees need to do to achieve career growth without leaving your organization.
Succession plans
Valuable additions to retention strategies allow employees to enjoy scheduling flexibility and some control over their work arrangements.
Flextime and telecommuting
Improving communication and leadership skills for the management team can positively impact employee-manager relationships, leading to better retention and lower turnover.
in-house training
to ensure fairness. For instance, how projects are assigned or the process for requesting vacation time can contribute to dissatisfaction if employees perceive these processes as unfair.
review company policies
Crucial to ensure employees experience growth within their roles. Empowering or expanding job responsibilities can foster employee growth and, in turn, improve retention.
job design
may include offering convenience services like dry cleaning, daycare facilities, or on-site yoga classes to enhance employees’ quality of life.
Unique employee retention methods
are those things that are expected in the workplace and will demotivate employees when absent but will not actually motivate when present.
Hygiene factors
