We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Staffing-Employee Retention Essay Sample

The whole doc is available only for registered users OPEN DOC

Get Full Essay

Get access to this section to get all help you need with your essay and educational issues.

Get Access

Staffing-Employee Retention Essay Sample

At present, many companies are facing a challenge. Due to economic progress and job growth, employers now face the predicament of losing their employees to other employers. According to Taylor (2004), “Top performers might be lured elsewhere just when they’re needed to help manage a company’s growth and when the firm can’t afford to match the offer from the other side of the fence (1). ” This is not a new issue; however, it is currently a serious problem.

It is crucial for companies to keep their clients; nonetheless, it is equally significant to maintain their employees. What would companies be without the people who work for them? Employees are as important as the clients they serve, so companies should pay attention to their needs. It is a fact that there are other companies out there which offer greater compensation, and it would not take much for people to cross to the other side. So how do employers keep their workers, especially the productive ones, from seeking greener pastures?

It is quite simple: they should encourage employee retention. They should find ways to make their workers happy and satisfied, so they would not even consider leaving the company as an option. This paper seeks to define recognition as an intrinsic reward in the work place environment, and how spot bonuses serve as a form of job retention. Every company has its own incentive program for their employers, but the incentives affect different people in different ways.

Jim McComb, a senior consultant for marketing and strategic planning at Performance Management Resources in Colorado, has this to say: “One mistake a lot of banks make is they don’t customize the rewards…Different factors motivate different people and there is no way you can structure an incentive to be all things to all people (as cited in Morrall, 1996, 3). ” This premise does not only apply in banking institutions. Rewards programs must be modified according to the needs of a certain company. Nevertheless, there is one reward that can be applied to any company.

That is recognition. Why recognition? Every employee, regardless of rank and status, needs to be recognized. If one particular person is hard-working and extremely productive, it would benefit the company greatly. Some may argue that it is an employee’s task to be productive; however, it is also the employer’s job to make sure hard work is recognized. McComb adds: “It is amazing how many people are motivated by recognition, yet few people actually get it (as cited in Morrall, 1996, 4). ” Recognition can effect a great change in one employee.

It can boost one’s self-esteem, and he or she will be encouraged to work harder resulting in more good news for the company. When an employee is happy, he or she is productive. When an employee is productive, the company will benefit. Recognition need not consist in making an employee the star of the company (Morrall, 1996, 5); that would be unnecessary. Morrall (1996) writes, “Effective recognition is a mix of periodic thank you’s in front of peers and simple everyday acts of letting employees know they, and their ideas, are valuable (5).

One form of recognition that also encourages employee retention is spot bonuses. There already exists a financial reward for employees for their stay in a company, but spot bonuses are different. They are now used as retention tools because of “their positive impact on employees can far outweigh their cost to the company (Taylor, 2004, 2). ” Moreover, Taylor (2004) believes spot bonuses are also helpful in creating “a superior workplace environment, which in turn can boost recruiting efforts.

If recognition increases an employee’s self-esteem, spot bonuses can encourage further productivity, since the financial rewards may just be around the corner. Employee recognition is an intrinsic reward in the work place because it is the employer’s job to make sure the workers feel that their contributions are valuable and valued. Spot bonuses, on the other hand, are an example of a job retention tool. It is because when employees feel that their efforts are rewarded, they would surely stay in the company. In turn, the company is also rewarded, because satisfied employees are very productive.

We can write a custom essay

According to Your Specific Requirements

Order an essay

You May Also Find These Documents Helpful

Peculiarities of various assignment types

The educational process is diverse and full of interesting writing tasks which help students develop their academic abilities. Different assignments types are created by professionals in order to enhance students’ level of analytical, critical and writing skills and to vary the learning process. As a student, you will encounter numerous tasks of diverse complexities throughout your student life. Sometimes, maybe, too complicated! They have different peculiarities, structural...

Making decisions in health and social care

Critically analyses the concepts, features, and importance of costs and accounting in making decisions in health and social care Cost accounting is a method used in accounting to capture a company’s or organisation’s production costs. It assesses the input costs of every step in production, fixed costs like depreciation of capital equipment. Cost accounting measures and records costs individually then compare the input results via...

Сhildren development

Physical development 7-12 years By the age of 7 a child enjoys things such as bike riding and rollerblading they are now able to tie and untie shoelaces without adult help, they are now starting to understand what rules are and are able to follow simple rules. At 8-12 years a child improves the physical skills that they have already developed and start to see...

Forex international trading market

Introduction Forex exchange is on the rise in Namibia; resulting in more people wanting to learn how to trade to try to increase their income so that they can enhance their standard of living. Forex Foreign exchange identifies the process of converting domestic currency into international banknotes at particular exchange rates (Bofah, 2017, para.1). As the number of foreigners in Namibia is increasing, more Namibians...

Aristotelian idea of God

This image produced in 1544 shows emerging's of the Judeo-Christians and Aristotelian's traditions. Aristotle was very interested in the idea of motion and said “The world is in a constant state of motion and change”. An example of how the world is changing is the growth of trees and plants. Aristotle believed in a prime mover, which is the being which creates change in the...

Get Access To The Full Essay
Materials Daily
100,000+ Subjects
2000+ Topics
Free Plagiarism
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
Sorry, but only registered users have full access

How about getting this access

Become a member

Your Answer Is Very Helpful For Us
Thank You A Lot!


Emma Taylor


Hi there!
Would you like to get such a paper?
How about getting a customized one?

Couldn't Find What You Looking For?

Get access to our huge knowledge base which is continuously updated

Next Update Will Be About:
14 : 59 : 59
Become a Member