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MADRAS SCHOOL OF SOCIAL WORK
DEPARTMENT OF HUMAN RESOURCE MANAGEMENT
1
A PRESENTATION ON
“Employee Motivation &
Retention Strategies”
Submitted by:
Mohamed Ali J
Nithya M
Sivakumar T
Priyadharshini S
Shalini Abigail Priyanka C
1st Year MA.HRM
1st Semester
UNDER THE GUIDANCE OF
Mrs. Bala Sandhya2
CONTENTS:
INDEX PAGE
NUMBER
What is Motivation 4
What is Employee Motivation 4
Definition of Employee Motivation 4
Why Motivation Required 4
What Factors Motivates Employees 6
Methods of Motivating Employees 6
What is Retention 10
Definition of Employee Retention 10
Why Retention 10
Importance of Retention 11
Why Employee Leave the Organisation 12
What is Employee Retention 13
Retention Strategies 14
Three R’s of Employee Retention 15
KEI’s Employee Retention Wheel 15
KEI’s Employee Retention Wheel – Eight
Factors
17
Techniques to Retain Employees 19
Employees Leave Bosses, Not Jobs 25
New Age HR Practices 28
Case Study - Study on Google & Zappos 29
Bibliography 31
3
EMPLOYEE MOTIVATION
AND RETENTION
STRATEGIES
What is Motivation?
Motivation is the process of boosting the morale of employees to encourage
them to willingly give their best in accomplishing assigned tasks. Motivation is the
key to achieving extraordinary results.
What is Employee Motivation?
Employee motivation is a major factor in the success or failure for any
organization. Without a motivated workforce, productivity, morale, profits, product
and service delivery suffers. To stay competitive, organizations must invest in
effective strategies to motivate the staffs. From line managers to top executives,
understanding what factor or factors motivate the employees is key to gaining the
human resource advantage that leads to success in our challenging market place.
Definition of Employee Motivation:
According to Burrel Lee Wilks III “Employee motivation is a reflection of the level
of energy, commitment, and creativity that a company's workers bring to their jobs.”
Why is Motivation Required?
Motivation requires the members of the group to pull weight effectively, to
give their loyalty to the group, to carry out properly the purpose of the organization. 4
To be successful, Motivation is an important thing that each one must have. Few
reasons why motivation is important is as follows
Motivation helps you get started - Have you noticed the difference
between working on something you like and working on something you don't like?
I'm sure you can feel the difference. When you're motivated about something, you
can work on it effortlessly. Nobody needs to force you to work. Since getting started
is perhaps the most difficult part of getting things done, being motivated is
tremendously helpful for you.
Motivation helps you keep moving -Getting started is one thing but
keep moving is another thing. Whatever you do, there are always obstacles along
the way that can hinder you from achieving success. If you don't have motivation, it's
easy to get discouraged when you meet such obstacles. That's why motivation often
makes the difference between winners and losers. Winners are those who can go
through challenges and difficulties thanks to their motivation. Losers, on the other
hand, are those who can't go through challenges and difficulties since they lack the
necessary motivation.
Motivation makes you do more than necessary - If you are
motivated about something you will voluntarily do more about it than what is
required from you. You will naturally go further and dig deeper than other people
since you love to do it. While other people will only do what is necessary, you do
more than that. In such situation, there is a good chance that you will be more
successful than others.
Motivation makes the journey fun - People who don't have
motivation will think that the journey to success is long and difficult. Those who are
motivated look at it differently. The journey is still long, but it's an enjoyable journey.
Not only can they endure it, they actually have fun along the way. Of course, there
are always times when things aren't good, but motivation enables you to endure
such difficult times and so on.
5
What Factor Motivates Employees?
Some of the factors which motivates employees are as follows
Appreciation or recognition for a job well done
Being in the know about company matters
An understanding attitude from the management
Job security
Good wages
Interesting work
Career advancement opportunities
Loyalty from management
Good working conditions
Tactful discipline
Methods of Motivating Employees:
There are as many different methods of motivating employees today as there
are companies operating in the global business environment. Still, some strategies
are prevalent across all organizations striving to improve employee motivation. The
best employee motivation efforts will focus on what the employees deem to be
important. It may be that employees within the same department of the same
organization will have different motivators. Many organizations today find that
flexibility in job design and reward systems has resulted in employees' increased
longevity with the company, improved productivity, and better morale.
6
EMPOWERMENT - Giving employees more responsibility and decision-
making authority increases their realm of control over the tasks for which they are
held responsible and better equips them to carry out those tasks. As a result,
feelings of frustration arising from being held accountable for something one does
not have the resources to carry out are diminished. Energy is diverted from self-
preservation to improved task accomplishment.
CREATIVITY AND INNOVATION - At many companies, employees
with creative ideas do not express them to management for fear that their input will
be ignored or ridiculed. Company approval and toeing the company line have
become so ingrained in some working environments that both the employee and the
organization suffer. When the power to create in the organization is pushed down
from the top to line personnel, employees who know a job, product, or service best
are given the opportunity to use their ideas to improve it. The power to create
motivates employees and benefits the organization in having a more flexible work
force, using more wisely the experience of its employees, and increasing the
exchange of ideas and information among employees and departments. These
improvements also create an openness to change that can give a company the ability
to respond quickly to market changes and sustain a first mover advantage in the
marketplace.
LEARNING - If employees are given the tools and the opportunities to
accomplish more, most will take on the challenge. Companies can motivate
employees to achieve more by committing to perpetual enhancement of employee
skills. Accreditation and licensing programs for employees are an increasingly
popular and effective way to bring about growth in employee knowledge and
motivation. Often, these programs improve employees' attitudes toward the client
and the company, while bolstering self-confidence. Supporting this assertion, an
analysis of factors which influence motivation-to-learn found that it is directly
related to the extent to which training participants believe that such participation
will affect their job or career utility. In other words, if the body of knowledge gained 7
can be applied to the work to be accomplished, then the acquisition of that
knowledge will be a worthwhile event for the employee and employer.
QUALITY OF LIFE - The number of hours worked each week by
American workers is on the rise, and many families have two adults working those
increased hours. Under these circumstances, many workers are left wondering how
to meet the demands of their lives beyond the workplace. Often, this concern occurs
while at work and may reduce an employee's productivity and morale. Companies
that have instituted flexible employee arrangements have gained motivated
employees whose productivity has increased. Programs incorporating flextime,
condensed workweeks, or job sharing, for example, have been successful in focusing
overwhelmed employees toward the work to be done and away from the demands
of their private lives.
MONETARY INCENTIVE - For all the championing of alternative
motivators, money still occupies a major place in the mix of motivators. The sharing
of a company's profits gives incentive to employees to produce a quality product,
perform a quality service, or improve the quality of a process within the company.
What benefits the company directly benefits the employee. Monetary and other
rewards are being given to employees for generating cost-savings or process-
improving ideas, to boost productivity and reduce absenteeism. Money is effective
when it is directly tied to an employee's ideas or accomplishments. Nevertheless, if
not coupled with other, nonmonetary motivators, its motivating effects are short-
lived. Further, monetary incentives can prove counterproductive if not made
available to all members of the organization.
OTHER INCENTIVES – Study after study has found that the most
effective motivators of workers are nonmonetary. Monetary systems are insufficient
motivators, in part because expectations often exceed results and because disparity
between salaried individuals may divide rather than unite employees. Proven
nonmonetary positive motivators foster team spirit and include recognition,
responsibility, and advancement. Managers, who recognize the "small wins" of 8
employees, promote participatory environments, and treat employees with fairness
and respect will find their employees to be more highly motivated. One company's
managers brainstormed to come up with 30 powerful rewards that cost little or
nothing to implement. The most effective rewards, such as letters of commendation
and time off from work, enhanced personal fulfilment and self-respect. Over the
longer term, sincere praise and personal gestures are far more effective and more
economical than awards of money alone. In the end, a program that combines
monetary reward systems and satisfies intrinsic, self-actualizing needs may be the
most potent employee motivator.
9
What is Employee Retention?
Employee retention is a process in which the employees are encouraged to
remain with the organization for the maximum period of time or until the
completion of the project.
Definition of Employee Retention:
According to Get Les Mckeown’s employee retention is define as “ effective
employee retention is a systematic effort by employers to create and foster an
environment that encourages current employees to remain employed by having
policies and practices in place that address their divers needs”.
Why Retention?
Employees today are different. They are not the ones who don’t have good
opportunities in hand. As soon as they feel dissatisfied with the current employer or
the job, they switch over to the next job. It is the responsibility of the employer to
retain their best employees. If they don’t, they would be left with no good
employees. A good employer should know how to attract and retain its employees.
Retention involves five major things:
Compensation Environment Growth
Relationship Support
10
Importance of Employee Retention:
Now that so much is being done by organizations to retain its employees, why
is retention so important? Is it just to reduce the turnover costs? Well, the answer is
a definite no. It’s not only the cost incurred by a company that emphasizes the need
of retaining employees but also the need to retain talented employees from getting
poached.
The process of employee retention will benefit an organization in the
following ways:
1) THE COST OF TURNOVER: 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.
2) LOSS OF COMPANY KNOWLEDGE: When an employee leaves, he
takes with him valuable knowledge about the company, customers, current projects
and past history (sometimes to 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.
3) INTERRUPTION OF CUSTOMER SERVICE: Customers and
clients do business with a company in part because of the people. Relationships are
developed that encourage continued sponsorship of the business. When an
employee leaves, the relationships that employee built for the company are severed,
which could lead to potential customer loss.
4) TURNOVER LEADS TO MORE TURNOVERS: When an
employee terminates, the effect is felt throughout the organization. Co-workers are
often required to pick up the slack. The unspoken negativity often intensifies for the
remaining staff.
11
5) GOODWILL OF THE COMPANY: The goodwill of a company is
maintained when the attrition rates are low. Higher retention rates motivate
potential employees to join the organization.
6) REGAINING EFFICIENCY: 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 you cannot assure us of the same efficiency from the new employee.
Some other facts are
Hiring is not an easy process.
An organization invests time and money in grooming an individual and
makes him ready to work and understand the corporate culture.
When an individual resigns from his present organization, it is more likely
that he would join the competitors.
The employees working for a longer period of time are more familiar with
the company’s policies, guidelines and thus they adjust better.
Every individual needs time to adjust with others.
It has been observed that individuals sticking to an organization for a longer
span are more loyal towards the management and the organization.
It is essential for the organization to retain the valuable employees showing
potential.
Why employees leave the organization?
Employees do not leave an organization without any significant reason. There
are certain circumstances that lead to their leaving the organization. The most
common reasons can be:
Job is not what the employee expected to be
Job and person mismatch
No growth opportunities
12
Lack of appreciation
Lack of trust and support in co-workers, seniors and management
Stress from overwork and work life imbalance
Compensation
New job offer
For higher Salary
For Higher education
Misguidance by the company
Policies and procedures are not conducive
No personal life
Physical strains
Uneasy relationship with peers or managers
13
R –EMUNERATE COMPETITIVELY
E -NCOURAGEMENT AND EXPECTATIONS
T – RAINING AND DEVELOPMENT
A -NNUAL REVIEW CYCLES
I - NFORM AND INVOLVE
N -URTURE
Retention Strategies:
Work environment (location, variety, flexibility, culture)
Financial (base salary, incentive, bonuses, options, benefits, recognition)
Personal (quality of work, skills, training, self-leadership, opportunities)
Relationships (owners, managers, peers, mentors, customers) & so on.
14
The Three R’s of Employee Retention
To keep employees and keep satisfaction high, the management need to
implement each of the three Rs of employee retention: respect, recognition, and
rewards.
The managers must determine the precise methods to implement the three Rs,
but in general, respect should be the largest component of all the efforts.
Without it, recognition and rewards seem hollow and have little effect—or they
have negative effects.
The magic truly is in the mix of the three.
o Rewards
o Recognition
o Respect
KEi’s Employee Retention Wheel:
KEi has used this information to give employers the tools to meet the core
needs that keep employees successful at their jobs, thus reducing the high costs
associated with unwanted employee turnover.
Using the Wheel to Improve Employee Retention
KEi's Employee Retention Strategy is based upon two primary beliefs:
1. It is difficult for employers to retain good employees if they don't have
a process to hire the right people in the first place.
2. Retention processes must directly support the reasons that successful,
satisfied employees stay.
KEi's concentration on the center of the Employee Retention Wheel provides
employers with Internet-based tools that give employees systematic, ongoing
support to be successful in their work and satisfied with their employment.
15
16
The Center of KEi's Employee Retention Wheel: EIGHT FACTORS
Definition of successful: my job is helping me to grow personally,
professionally and financially.
Definition of satisfied: my employer is providing what I need to perform my
job successfully.
These eight central processes of the Employee Retention Wheel are the
factors that are most critical to an employee's job performance success.
ATTITUDE FOR EMPLOYING
A process to clearly define the way supervisors are expected to
interact with employees; a process to give employees a way to express what
is most important to achieve job success; and a process to give employers a
way to demonstrate "Employing Values" through employment policies.
This "Employer Mission Statement" is about how and who you hire,
how you treat them and the organization's values as an employer. It is about
making sure that the Values for Employing™ are communicated to your
employees and consistently implemented throughout your organization. It is
about the total employment package that goes beyond salary and
traditional benefits.
FINDING CANDIDATES
A process that gives employers a comprehensive way to
communicate to job seekers what it takes to achieve short-term and long-
term job success, and to attract the candidates who fit this criteria.
SORTING APPLICANTS
17
A process that gives employers a way to confirm whether the
attitudes and behaviors of job seekers are a match for their work
environment.
CHOOSING EMPLOYEES
A process that gives employers a way to define the specific interview
questions that prove job seeker abilities to successfully perform the target
skills; and a process that gives employers a way to verify the accuracy of
resume/application data and interview responses.
STARTING EMPLOYEES
A process that provides a way for new employees (before performing
the job) to understand "why the employers business exists;" "what makes
the business organization successful;" "why the employee's job exists;" and
"what it will take for the employee to achieve job success."
INFORMING EMPLOYEES
A process that gives employers a way to provide essential
information (from five critical information sources) that is needed by
employees to make daily work decisions.
IMPROVING EMPLOYEES
A process that gives supervisors and employees a way to work
together to build personalized plans for improving each employee's priority
job skills; and a process that gives the employer a way to "deliver skills-
improving training curriculum" and to "measure the learning effectiveness"
18
from the training experiences.
REWARDING EMPLOYEES
A process that gives employers a way to define and communicate
exactly how individual employee salaries are determined; and a process that
gives employers a way to provide employees with extra incentive income
that is earned through the achievement of cash generating business goals.
Techniques to Retain Employees:
Treat your employees like you treat your most valuable clients Get your employees to "Fall in Love" with your organization Strong retention strategies become strong recruiting advantages Retention is much more effective when you put the right person into the right
job. Know the job!
Money is important but it is not the only reason people stay with an
organization.
An employee committee to help develop retention strategies is a very effective
strategy.
Leadership must be deeply invested in retention Recognition, in various forms, is a powerful retention strategy Remember, the "Fun Factor" is very important to many employees.
Know the trends in benefit packages. Do your best to offer the ones your
employees need
These practices can be categorized in 3 levels: Low, medium and high level.
19
Low Level Employee Retention Strategies
Appreciating and recognizing a well done job
Personalized well done and thank-you cards from supervisors
Congratulations e-cards or cards sent to spouses/families
Voicemails or messages from top management
Periodic days off for good performance
20
Rewards (gift, certificates, monetary and non-monetary rewards)
Recognizing professional as well as personal significant events
Wedding giftsAnniversary gifts
New born baby gifts
Scholarships for employee’s children
Get well cards/flowers
Birthday cards, celebrations and gifts
providing benefits
Home insurance plansLegal insurance
Travel insurance
Disability programs
providing perks: It includes coupons, discounts, rebates, etc
Discounts in cinema halls, museums, restaurants, etc.Retail store discounts
Computer peripherals purchase discounts
providing workplace conveniences
On-site ATMOn-site facilities for which cost is paid by employees
laundry facility for bachelors
Shipping services
Assistance with tax calculations and submission of forms
Financial planning assistance
21
Casual dress policies
Facilities for expectant mothers
Parking
Parenting guide
Lactation rooms
Flexi timings
Fun at work
Celebrate birthdays, anniversaries, retirements, promotions, etc
Holiday parties and holiday gift certificates
Occasional parties like diwali, holi, dushera, etc
Organize get together for watching football, hockey, cricket matches
Organize picnics and trips for movies etc
Sports outings like cricket match etc
Indoor games
Occasional stress relievers
“Casual dress” day
“Green is the color” day
Handwriting analysis
Tatoo, mehandi, hair braiding stalls on weekends
Mini cricket in office
Ice cream Fridays
22
Holi-Day breakfast
Employee support in tough time or personal crisis
Personal loans for emergencies
Childcare and eldercare services
Employee Assistance Programs ( Counselling sessions etc)
Emergency childcare services
Medium Level Strategies for Employee Retention
Special bonus for successfully completing firm-sponsored certifications
Benefit programs for family support
Child adoption benefits
Flexible benefits
Dependents care assistance
Medical care reimbursement
Providing conveniences at workplace
Gymnasiums
Athletic membership program
Providing training and development and personal growth opportunities
Sabbatical programs
Professional skills development
Individualized career guidance
23
High Level Strategies for Employee Retention
Promoting Work/Life Effectiveness
Develop flexible schedules
Part-time schedules
Extended leaves of absence
Develop Support Services
On-site day care facility etc.
Understand employee needs: This can be done through proper management style and culture
Listen to the employee and show interest in ideas
Appreciate new ideas and reward risk-taking
Show support for individual initiative
Encourage creativity
Encouraging professional training and development and/or personal growth
opportunities: It can be done through:
Mentoring programs
Performance feedback programs
Provide necessary tools to the employees to achieve their professional and personal
goals
Getting the most out of employee interests and talents
Higher study opportunities for employees
Vocational counselling
24
Offer personalized career guidance to employees
Provide an environment of trust: Communication is the most important and effective way
to develop trust.
Suggestion committees can be created
Open door communication policy can be followed
Regular feedbacks on organizations goals and activities should be taken from the
employees by:
Management communications
Intranet and internet can be used as they provide 24X7 access to the information
Newsletters, notice boards, etc.
Hire the right people from the beginning: retention is not a process that begins at the end.
The process of retention begins right from the start of the recruitment process.
The new joiners should fit with the organization’s culture. The personality, leadership
characteristics of the candidate should be in sync with the culture of the hiring
organization.
Referral bonus should be given to the employees for successful hires. They are the
best source of networking.
Proper training should be given to the managers on interview and management
techniques.
An internship program can be followed to recruit the fresh graduates.
Study Suggests Employees Leave Bosses, Not Jobs
Careful selection of employees and managers can have a huge impact on
employee retention efforts and employee turnover costs in any organization.25
It has been said more than once, and for good reason, that employees leave their
bosses - not their jobs. A Florida State University study scheduled for full release
in the fall 2007 issue of Leadership Quarterly confirms this. The study shows that
40% of employees work for bad bosses based on survey results. The reasons that
employers score poorly are varied and many:
• 39% of workers said their supervisor failed to keep promises.
• 37% indicated their supervisor failed to give credit when due.
• 31% said their supervisor gave them the "silent treatment" during the past
year.
• 27% report their supervisor made negative comments about them to other
employees or managers.
• 24% indicated their boss invaded their privacy.
• 23% said their supervisor blamed other to cover up personal mistakes or
minimize embarrassment.
So what does this all boil down to? The effects of having bad bosses in the
organization can be devastating. High turnover, poor employee morale,
employee theft, diminished customer service, substandard employee
performance, lower production, and an organizational culture of fear and
mistrust can all be blamed in part on poor bosses and managers.
The costs of having poor managers and bosses can be incredible. Consider the
cost of employee turnover, which is different for all industries and positions, but
has been roughly estimated at $15,000 - $17,000 per employee in low to
moderately skilled positions. Having a manager who drives potentially valuable
employees from the organization can have a huge impact on the bottom line, and
customers.
26
SOME EXAMPLES OF NEW AGE HR PRACTICES
To retain employees it is very important to give them a feeling of belongingness in the
company. For this they conduct many activities like:
There’s a weekly meeting of every dept where the employees are asked what
their expectations are from the company to make the atmosphere and climate
joyful.
After every 15 days one day FUN TRIP is conducted from the company. The
destination of the fun trip is decided by the employee themselves. The expense is
held by the company.
Every Employee is given a Laptop, Mobile (limited talk-time every month) or
Landline Phone free.
“MY DAY”- Every week the employee can have 2 “my days”, i.e. for two days a
week they can have their own time away from office after 1.30 pm.
Annual Day – The annual day is conducted every year. Every employee gets a gift
voucher, Lunch at some good hotel and a fun tour to other states, etc.
Annually they also have interdepartmental matches like Cricket Matches,
Volleyball Matches etc to improve team building and feeling of belongingness.
Culture: On every Indian festival there’s a big celebration.
Ex: They fly colourful kites and have competition between the employees.
Ex: On Diwali they enjoy sweets and crackers with traditional dresses.
Departmental Lunch: Everyday one dept have lunch together. Each and every
member of that Dept eats and drinks together. This helps in improving the team
spirit and the feeling of belongingness in the dept.
Employee of the week- AWARD:
o Every week one worker is honoured based on the performance of the
worker. This improves their moral and encourages them to work hard for
the coming week.
o Every month one employee is honoured as Employee of the Month
27
o Annually one employee is honoured as Employee of the year.
Their names are declared on the Notice board and company magazine which
encourages others also to work better.
New employees joining the company are given a training of 8-10 days.
The training consists of induction and orientation program along with a 2 day
trip. This is a good ice breaking session and helps them to know their colleague.
The lasts two days training is conducted in the actual job site.
Higher education: If any employee wishes for higher education the company
sends the employee for training and encourages them to study hard.
Car is provided to the entire manager and above. The petrol expense are taken
care by the company.
Annually every employee gets a 5 days paid leave.
The company provides the facility of all indoor games along with a Swimming
pool for the refreshment of the employee.
o Ex. Table Tennis, Chess, Badminton, Snooker, etc.
Quarterly the MD does performance appraisal of every LINE and checks which
line has achieved production as per expectation or more than that. All the
members of the line are gifted and their names are displayed in their annual
magazine. This encourages the Line members to work hard and efficiently.
A learning centre is also provided where employees can register themselves for a
retail certification course from no less than the Indian Institute of Management
(IIM).
28
Employee Retention: A Tale of Two Companies
Google and Zappos, two cultures of which have been well-documented examples
of “best practices” within the technology vertical, incorporate very different
approaches towards employee retention. Both companies have seen remarkable
success thus far in attracting and retaining talent; however, time will tell how
each company fares in the long-term. Google utilizes the tried-and-true
retention strategy of offering additional compensation to its employees as a
reward for their successes. This approach, though short of revolutionary, is
certainly tried-and-true. Zappos CEO Tony Hsieh has spearheaded an initiative to
create an unconventional culture predicated on the happiness of his employees.
This strategy has been lauded by employees and competitors alike, although
there is less historical precedent for the approach. The end-goal of each strategy
is to incentivize efficiency, attract the best employees, and provide for the long-
term sustainability of the company and its culture.
Zappos CEO Tony Hsieh wrote the book on creating a satisfying work culture-
literally! His book Delivering Happiness elaborates on the creation of the Zappos
culture that puts customers and employees first. This strategy has proven
effective as Zappos has grown from just over $70 million to over $1 billion in
annual sales in only 5 years. In order to preserve the culture at Zappos, a policy
has been instituted in which employees that aren’t a cultural fit can be paid to
quit. At the end of the first week of the 4-week training and cultural immersion
period, Zappos makes “The Offer” to each trainee, which gives them the option
of walking away with 1 week’s salary and a $1000 bonus or continuing the
training. Zappos is now a subsidiary of Amazon.com; however, it’s committed to
maintaining its unique culture. This year, Zappos was named the 15th best place
to work by Fortune Magazine. Although Zappos doesn’t compete in as
revolutionary a space as Google, they’ve certainly done their part to
revolutionize commitment to company culture and rethink incentives.
29
Google, ranked 4th on the same list of “Best Companies to Work For”, offers a
less zany but immensely rewarding experience. Google seems to be attracting
the right talent, as shown in its plan to add 1,000’s of employees in 2011 and its
2009 revenue, which surpassed $23 billion. Google has been known for unique
hiring practices since its beginning and their innovative culture and above-
average pay rates are great incentives for job seekers. Additionally, Google made
news recently by offering each employee a 10% pay raise for 2011 . This
initiative, though less creative than the cultural overhaul implemented at Zappos,
proves that there are different methods to improve employee happiness and
performance
Companies looking to grow and continue to develop should conscientiously
revisit their long-term strategies and ensure that they can attract top talent to do
the best possible work. These two case studies, as well as countless others from
other successful, sustainable companies, are great resources for avoiding
mistakes in hiring and management practices. Employees value many things in
their employers, including: culture, transparency, autonomy, respect, salary,
benefits, and environment. While it’s not possible for your company to be the
leader in each of these categories, great business owners are able to pick their
battles and find the best talent to accomplish their objectives.
30
Bibliography:
www.greenresourses.com
Ezine Articles
SMB World Asia
www.slidshare.net
Naukrihub
www.en.wikipedia.org
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