For a company to retain talent it must offer more incentives for the employees than that of its competitors. Your company encourages the decisions and ideas of the employees but more programs could be put in place to help retain employees. Implementing a program that offers rewards for time and cost savings not only benefits the employee but also the company by projecting a positive image of employee worth to the company. Keeping the companies hiring practice on the national level is required for all employees that work in the retail stores but if there is a need for technology or manufacturing of a particular product I would recommend global labor. The ability to tap into the global labor market will make the company more competitive by being able to offer competitive prices on products due to lower overhead cost associated with the offset in the labor cost.
Leaders have to set the standard by being empathic, supportive and use a range of different leadership styles to develop and maintain the team, they also have be fair and consistent, as workers that feel they are unfairly treated by a manager will not show loyalty and will do the minimum. The leader also has to demonstrate capability and experience, as having workers that are more highly achieving than the leader breeds resentment. Tuckman (1965) described the stages of team development as ‘Forming, Storming, Norming and Performing. As teams travel through these stages trust, respect and understanding of individual’s strengths and tolerance of their weaknesses is established. This process allows individuals to learn about each other personalities, coping strategies and response to pressure, allowing for bonds between members to be formed.
As an employee of a company who thinks highly enough to aid in education and bettering oneself as a person, well, gracious seems to come to mind. Changing jobs and employers is not what people normally want to do, so giving them reasons to stay is all that it takes. At Donco, we believe that the continuous effort to assist in employee health and wellness is strategy that affords all to win. A company is made up of its employees, for their bettering is our bettering. Education has many other positive ripple effects.
That is my main function within the group, to facilitate the day-to-day actions of the other members. If something needs to get done, I assign a member that task and then follow up until completion. The only draw back so far is my aggressive attitude towards mission accomplishment has caused some of the other members to recent my approach. I do not always ask for things in a nice way, I think being direct is the quickest way to get something completed. The biggest affect that it has on the group is slowing down the amount of work that was getting completed.
It is important to support and encourage current employees to strive for higher goals. Showing that you the employee is cared for as is the business will help business grow because after all employees make the business world go round. Tuition reimbursement increases the value of the employee which in turn increases the value of the company. A business degree or communications degree offers a multitude of career choices ranging from salaries of over $100,000 per year to $30,000. Tuition reimbursement means increased morale, productivity, confidence, retention, profits, and less employee turnover.
Supervisors should always be aware and encourage employees to discuss any issue with them. This will make sure that and problems the employees have, they can be dealt with early instead of turning them into grievances against the company and its workers. This would be the second best practice. When problems are dealt with when they first come up and employee feels like what concerns them is also what concerns the company and is therefore dealt with then and there or the supervisor can find out ways to deal with them. When problems are not dealt with they can become conflicts against the company that can take long times to settle since they employee most likely found someone who would listen to them.
Inconsistency in pay rates for equal or similar positions can become a problem when employees discuss pay amount themselves, and a headache for HR and finance offices to keep track of. Base pay is much easier for employers to administer and allows pay progressions to be clearly mapped out. (Towers,2010). Employers who chose to pay only base pay may choose to increase employees pay based on set mile stones, such as after a 90 day trial period ,or longevity within a position. Incentive pay is an excellent way to increase employee moral by giving monetary incentive and motivation to reach set goals.
“The typical Gainsharing organization measures performance and through a pre-determined formula shares the savings with all employees. The organization's actual performance is compared to baseline performance (often a historical standard) to determine the amount of the gain (Masternak, R. L. (n.d.)”. With a family owned business, this can be a positive way to help grow the company’s culture, keep the family culture values, and encourage employee involvement in growing and developing the business. A gain-sharing plan will help the company achieve the increase in team production because they will only receive gain share for performance that has improved and it will align employees to the goals of the organization. Having this type of plan helps to promote and improve employee morale, pride, and a positive attitude towards the organization and its goals.
Taylorism refers to methods of management developed by Frederick Winslow Taylor in early twentieth century. This theory focuses on the idea that workers are motivated mainly by pay and that the incentive in form of additional pay for additional work motivates workers and results in greater output. This system rewarded those who produced the most. The adoption of this approach to motivation leads to an improvement in productivity. However, an engineer’s job is more about thinking and designing.
EQUIP is an employee suggestion program for increasing revenue, cutting cost, or simplifying work processes. For productivity improvements, soliciting ideas from workers are important. Quality improvement teams were empowered so that they could construct their own approaches to solve thorny problems like