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Business Research

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Employee retention means the plans and strategies use to make the valuable employees not to leave their job. Most of the multinational concerns are facing problem in the retention of employees..In this research proposal iam going to study how Riordan manufacturing group can retain their employees. Retention of employees will give a lot of benefit to the concern: The employee retention will help a concern to get good turnover, will help to avoid interruption in service, to keep up the goodwill, to get back the efficiency etc.There are various reasons for employees to leave the organisation. If the organisation tackles the factors which are responsible for employees leaving the job they can retain their employees.

Riordan manufacturing group is one of the leading plastic producing concerns in the plastic industry. The riordan manufacturing group is a sub concern of the Riordan industries. The riordan manufacturing group functions under its headquarters situated in California. The riordan group was founded in the year 2000 with a work force of 30 employees. But after that they grown from heights to heights and now they have a work force of more than 800 employees.Riordan group have a well equipped research center which helps the company to remain competitive in the industry. The riordan group supplies plastic to the aircraft companies and leading other major concerns.Riordan group have branches all over Europe and the European headquarters is at germany.The riordan group holds a major part of the European plastic industry.. (www.Riordan.com)

Riordan manufacturing group is a large plastic producer in the plastic industry. In the recent years Riordan is facing problems from the business environment. The political factors like Tax policy, Unstability of the government is affecting their operations. The social factor like recession and inflation pulled the concern into big difficulty. The main problem they are facing is the retention of employees. Around half percent of their workers are leaving their job without any prior notice. The Riordan group has failed considerably to findout the reasons behind the employees to leave their job. So it is very important for the concern to know the factors responsible that and this research will benefit them largely.

RATIONALE OF THE STUDY

❖ In this research am opted to take the Riordan manufacturing group because I invested money for Riordan in the share market. As a share holder this research proposal will assist me to point out the problems faced by Riordan in the Retention of employees and how they can solve the problem.

❖ By this research it is possible to apply some academic theories into practice. Due to this Research proposal it is possible to test the Maslow and Herzberg motivation Theories and to know that whether motivation is really affecting in the employees retention or not.

❖ In the business point of view this research proposal will help to analyze the Retention of employees which is a huge threat factor for most of the business and how a business concern can effectively retain their employees. The data analyzed through this research will help the business concerns to know what are the factors affecting the retention of employees.

LITERATURE REVIEW

Employees are the main factor which plays a vital part in a business. Retention of the key employees is one of the main problems facing by most of the countries now. Past studies revealed that with the retention of key employees who possess the vast performance skills will give the concern a competitive edge.(Rappaport,Bankroft and okam,2003).Despite the vast research conducted on employee retention much less information is collected about what are the factors which make employees to stay in the organization.(Griffeth,Hom&Gaertner,2000).Maertz and Campion noted that” relatively less turnover research has focused specially on how an employee decides to remain with an organization and what determines this attachment…..retention processes should be studied along with the quitting processes.(1998,P65).Steel,Griffeth and Hom also added saying that “the fact is often overlooked, but the reasons people stay are not always the same as reasons people leave(2002,P 152).In most of the research the factors responsible for an employee to quit are studied but what are the factors which can make employees to stay in the concern has not yet been fully researched.

Past research conducted by Eskildsen and Nussler revealed that skilled and talented employees are in good demand infront of all the organisation. The studies also state that the employees will stay in their workplace if they are satisfied.(Eskildsen&Dablgaard;Kim 2000,Kirby 2000). According to the research conducted by the Harvard Management, out of ten managers nine managers think that employees will stay or go because of money.(June,1998) .Lumetas’s (1998) study of pediatric nurses state that job satisfaction and motivation are the main factors responsible for employees to quit their job. The Lumetas’s studied the retention of nurses and his sample size was 200.By the data gathered he find out that motivation is one of the factor affecting retention. But his study was not fully succeeded because he did not find out the detail about the motivational factors and retention relationship. The sample size was also too big for the study.

Motivation-Challenging factor for retention?

Employee retention influenced largely by the impact of employee motivation. Past studies by (Kinnear and Sutherland 2001) Meudell and Rodham, 1998; Maertz and Griffeth 2004) find out that motivational variables like salary, good working conditions and job security will influence the employees to stay in the organization.

According to Abraham Maslow (1943) as long as the employees are satisfied with the five hierarchy needs they will be motivated and it will give them a positive effect to stay in the organization. In his theory of Human Motivation he stated that if one of the need of the employee is not satisfied it act as a disatisfier and reduces the morale of the employees and make them to leave the organization.

Herzberg (1959) conducted a series of research on employee motivation and he proposed the Two factor theory. His results are almost similar with Maslow. He quoted that if the organization provides motivation factors to the employees it is better for the organization to retain them. The motivational factors are salary, job security, promotion, working conditions etc.The Maslow classified motivational factors according to needs and hiezberg classified according to satisfaction level.

RESEARCH QUESTIONS

. In this research proposal the main question is,

“How Riordan group can retain their employees”

The sub questions for this research proposal will be,

❖ To what extent are Riordan employees satisfied in their job?

❖ What are the main factors impacting on employee’s decision to leave riordan?

❖ What factors motivate Riordan employees?

RESEARCH OBJECTIVES

Research Objectives answer the question “Why is this project being conducted” (www.enotes.com).It is veryessential to have a clear set of objectives for the research.

The main objective for the research is,

❖ To know how Riordan group can retain their employees.

The sub objectives for this proposal will be

❖ To determine the extent to which employees are satisfied

❖ To determine the factors that influence workers to leave the organisation

❖ To determine the extent to which employees are motivated.

RESEARCH METHODOLOGY

Inductive research is the research approach used in this research proposal. Inductive research is the research in which a theory is proposed from the data analysis which is collected through the research process. In this research the knowledge about subject matter is limited and the unavailability and lack of retention theories to test is the another factor.
The research design used is exploratory research design. The exploratory design is used because the researcher does not know why a certain phenomenon occurs. In this research the factors affecting retention is not stated clearly in the literature review. The knowledge is very limited and grounded theory approach is used. Grounded theory involves finding theory from the data analyzed

Research Methods.

In this research stratified random sampling is used to conduct the research. Stratified sampling is the research method in which the entire population is grouped according to strata and randomly sample is taken from the group. The employees of the riordan are grouped on the basis of strata”departments’.the population is grouped on the basis of the departments in which they are working and sample is taken randomly from each group in order to be representative.

SAMPLE

The population for this proposal consists of all the employees in the Riordan manufacturing group.It is very hard and time consuming factor for the researcher to study the entire population and so a sample of employees is selected from the organization. The sample size for this research is 50 employees selected randomly from every department.

Variables

The dependent variable for this research is employee retention and the independent variables are

❖ Salary

❖ Motivation

❖ Job satisfaction and dissatisfaction

❖ Employee employer relationship

❖ Working environment etc

Data collection methods

The data used for this research includes both primary and secondary. Primary data is collected through personal observation and survey method. The secondary data for this research will be from online published sources, trade unions publications, companies, sales figures etc.

Survey method- the survey method is used in this research in order to get the primary data. The survey methods like personal interview and telephone survey is used. The employees of the riordan are interviewed personally for gaining the useful information about the retention factor. The employees are interviewed by the Human Resource head of the company. The interview will last for half an hour for each employee. The interview is conducted with the help of a predetermined questionnaire. The telephone survey is used for collecting data from the employees who left the organization. The interviewer conducts survey through the access of telephone and the conversation is recorded for analysis. The employees who left the job can tell more about the retention factors.

Participant observation-The participant observation is a widely popular method of collecting primary data. In the participant observation the interviewer becomes the part of the sample to get more useful information. In this research the interviewer himself is an employee of riordan. He works with the employees very closely and clearly observes them. By this the interviewer can know what exactly the employees want from the organization.
Resource requirements

The knowledge and details about the retention and the influencing factors can be accessed from the Google and other search engines. The information can also be obtained from the libraries. The need of a good interviewer is very must in this research. The availability of a telephone and the recorder is also needed for the research. The contact details of the employees are collected from the company data source. The expenses for conducting the survey are a vital one.

References

Griffeth, R.W., Hom, P.W., & Gaertner, S.(2000).A meta analysis of antecedents and correlates of employee turnover:Update,moderator tests and research implication for the next millennium. Journal of management,26,463-488

Kinnear L, Sutherland M (2001).Money is free, but what is the bottom-line?J.S.A.Inst.P.Manage.19(1):15-18
Maertz, C.P, Griffeth R W (2004).Eight motivational forces & voluntary turnover: A theoretical synthesis with implications for research.30 (5):667-683

Maertz,C.P.,jR.,& Campion,mA.(1998).25 years of voluntary turnover research: A review and critique international review of industrial and organisational psychology,13,49-81

Meudell, k.Rodham, K.(1998).Money is not everything-or is it? A preliminary research study into money as a motivator in the licensed home sector.Int.j.Cont.Hosp.Manage.18(4):128-132

Rappaport, A., Bancroff, E.,& Okum,C.(2003).The aging workforce raises new talent management issues for employers. Journal of organisational excellence, 23, 85-87

http://www.ehow.co.uk/about_5729395_information-riordan-manufacturing.html
( accessed on 1 december)

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