Factors Affecting Employee Retention Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Factors Affecting Employee Retention Case Solution

Supervisor support

A research of Malaysia,(Bibi, ahmed, & Majid, 2018) was conducted in which 250 faculty members were selected for survey.The study explored the effects of training, development and supervisors’ support on employees’ retention. In this study, superior support and employee retention had a positive significant relationship; therefore, the upper management needs to provide appropriate support to their employees. However a study of London(Sucharski, Stinglhamber, & Vandenberghe, 2002) also showed positive significance relation of superior support and employees’ retention in which the study wasfocused on the exploration of relationship among employees’ retention, superiors’ support andthe organizational support.Their sample size was about 300, and they collected data through questionnaire which were in sealed envelopes.Admittedly the study of (Mishra & Mishra, 2013)hence proved that through research it has been examined that 85% of all problems in an organization support are associated with the superior’s support.

Job Satisfaction

Job satisfaction is also an important factor which can reduce the turnover rate of an organisation. A study of Dhaka(Kabir & Parvin, 2011) was conducted on factors affecting the employees’ job satisfaction in pharmaceutical sector.In this study; the author showed a positive impact of job satisfaction on employees’ retention. Employees only get satisfied with their jobs when organizations provide facilities to their employees. Another case study of (Anis A. , Kashif-ur-Rehman, Ijaz-Ur-Rehman, Khan, & Humayoun, 2011) was conducted on the issues prevailing in the pharmaceutical industry, which is job satisfaction of the employees and their retention issue. In this study; 450 questionnaires were distributed among six pharmaceutical companies. Out of the 450, the study got 320 usable questionnaires for data analysis. For model testing,Structural Equation Modelling (SEM) was used. The results concluded to be positive and significant. This study shows the relationship of job satisfaction, which impacts the employees’ retention, and it is indicated to be a positive relationship as the more employee are satisfied with their job and organization; the more they are willing to work in an organization.Satisfied employees are more loyal and unlikely to switch their jobs, which helps in increasing an organization’s productivity.

Salary and Reward

An employee only get motivated by the rewards he/she gets from the organization. The research (Kabir & Parvin, 2011) indicates that employees work for money and they are attracted by the handsome pay. If organizations increase the salary and benefits of employees, it increases their service quality and they will show positive behaviors and would want to stay working for the organization. Another study of (Ruvimbo & Ngirande, 2014) used quantitative research, in which 180 nurses were randomly selected as respondents.The study was focused on the relationship of retention and incentives and their effects. The study determines the impact of employees’ rewards and perks, which lead to employees’retention for a longer time period. The study clearly shows the optimistic relationship between rewards and job retention. It indicates that the more you provide benefits to your employee; the highly they will interact with organization and stay longer with the same industry, because they get satisfactory perks and benefits. To sum up, it is proved by the study (Chiu & Li-Ping Tang, 2002) that salary and rewards have a positive impact on employees’ retention. This research paper conducted two studies in which the data collected from 2 different regions, like in Hong Kong they got 583 respondents and fromPeople's Republic of China (PRC) they got 121 respondents. They determined that salary and rewards are the strongest factor to retain employees because they work for money and its valuable for them. Basic salary, rewards, year-end bonus, annual leave and mortgage loan are the important factor to retain the employees. These factors reflected to Hong Kong employees.

Career Development Opportunities

Career development is the main factor for which employees retain in an organization. A Malaysian study was conducted on the impact of career development activities practices on employees’ retention.The research was conducted through questionnaire which was distributed among 30 employees and was analyzed through SPSS. The study (Nagarathanam, Venkitasamy, & Attiah, 2018) indicates the positive relation of career development and employees’ retention. According to this study; career development opportunity is the only way to keep an employee in an organization for a long time period and to direct the organization towards productivity. In contrast, the study of (Chew & C. A. Chan, 2008) is about the human resource practices and organizational commitment and intention to stay. The study indicates the negative impact of career development factor on employees’ retention. The study shows that career development does not have any significant relationship with employees’ retention. This study opposed several other studies. The survey is conducted by taking interviews through Delphi technique. Interviews were taken from 13 experts, 12 HR Manager and 457 employees in Australia. Structural equation modeling was used to test the data.

Methodology

The study is based on mono method research, because there is only one quantitative research and in this explanatory research is used because we are explaining the phenomena and testing the theory. This is an applied research, because the study is applicable to the pharmaceutical industries in Pakistan and gives recommendation to the solution of existing problem.We collect primary data from the employees of the different Insurance companies in theUSA.The research approach will be deductive approach, as general theoretical data to specific data will be collected on Insurance industry in the USA. The data collection will be cross sectional. The study will be accomplished through Primary data collection done through questionnaire.From Literature review and different research articles; we got secondary data.The collected data will be operated on SPSS software and Correlational Analysis will be collected to reach the conclusion that which factors affect the employees’ retention most in the insurance companies. Population of the study is unknown as there is a huge number of insurance firms in the USA. We are conducting research on the Insurance firms in New York. The population of the study is unknown so we have selected our sample size to be 200. We used simple random sampling method for our data collection. The research has selected primary data, which will be collected through structured questionnaire, measured by 5 point Likert scale. Structured questionnaire will be distributed through email among the employees of different insurance companies in New York,which will drive us to the conclusion.6 items of dependent variable employee retention (W. R. & Wambua, 2019)..........................

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