To retain employees in retail sector - analysis of Tesco

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Theory and practices to retain employees in a retail sector

Theory and practices to retain employees in a retail sector

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  • 1. An evaluation of how Tesco retains its staff – A case study of motivational strategies
  • 2. MonsterWriteroffersyouhelpwith youracademicproblems.Ifyouneedassistanceinwriting yourassignments,dissertations andthesisormakingprojects;sendusyourqueryand wewill helpyouwithit.Wedealinallhumanities,arts,socialsciences,business,computersciences andpuresciencessubjects.Weofferourserviceson reasonableandaffordableprices. So,don’twasteanymoretimeisbrowsing andfrettingoveryourwork,justshootusanemail orleaveamessageonourtwitterandFacebookprofilesandwewillgetbackto youwithout wasting anytime. Thisproposalmadebyoneofourwritershasbeenuploadedasasample. ImportantLinks: https://www.facebook.com/monster.writers.9 @MonsterWriters Email:socialmedia@monsterwriters.com
  • 3. DECLARATION I declare that the research performed in this dissertation is purely my work. Information collected from different sources including books, journals, websites have been completely referenced and mentioned in the reference list and in the text. Moreover, this dissertation has been researched and written according to the guidelines provided by the teacher.
  • 4. ACKNOWLEDGEMENT I would like to offer my gratitude to my supervisor _________ for guiding and supporting me in this endeavour of research and dissertation writing. Without the support of my supervisor, this dissertation would not have been possible.
  • 5. Table of Contents DECLARATION......................................................................................................................................2 ACKNOWLEDGEMENT........................................................................................................................4 EXECUTIVE SUMMARY ......................................................................................................................7 CHAPTER 1 – INTRODUCTION ............................................................. Error! Bookmark not defined. 1.1 BACKGROUND TO THE STUDY....................................... Error! Bookmark not defined. 1.2 AIM OF RESEARCH............................................................ Error! Bookmark not defined. 1.3 RESEARCH OBJECTIVES ................................................... Error! Bookmark not defined. 1.4 RESEARCH QUESTIONS..................................................... Error! Bookmark not defined. 1.5 OVERVIEW OF COMPANY ................................................ Error! Bookmark not defined. CHAPTER 2 – LITERATURE REVIEW .................................................. Error! Bookmark not defined. 2.1 DEFINITION OF MOTVATION........................................... Error! Bookmark not defined. 2.2 TYPES OF MOTIVATION.................................................... Error! Bookmark not defined. 2.2.1 Intrinsic Motivation......................................................... Error! Bookmark not defined. 2.2.2 Extrinsic Motivation ....................................................... Error! Bookmark not defined. 2.3 THEORETICAL FRAMEWORK OF THE RESEARCH...... Error! Bookmark not defined. 2.3.1 Herzberg’s Theory of Motivation-Hygiene ........................ Error! Bookmark not defined. 2.4 DEFINITION OF RETENTION ............................................ Error! Bookmark not defined. 2.5 RETENTION IN RETAIL SECTOR...................................... Error! Bookmark not defined. 2.5 FACTORS AFFECTING STAFF RETENTION ................... Error! Bookmark not defined. 2.5.1 Job Satisfaction ............................................................... Error! Bookmark not defined. 2.5.2 Monetary Satisfaction ..................................................... Error! Bookmark not defined. 2.5.3 Career Satisfaction.......................................................... Error! Bookmark not defined. 2.5.4 Satisfaction through Reward management...................... Error! Bookmark not defined. 2.6 RENTENTION STRATEGIES .............................................. Error! Bookmark not defined. 2.6.1 Labour market issues ...................................................... Error! Bookmark not defined. 2.6.2 Wastage rates .................................................................. Error! Bookmark not defined. 2.6.3 Resignation rates............................................................. Error! Bookmark not defined. 2.6.4 Exit interviews and surveys ............................................ Error! Bookmark not defined. 2.6.5 Costing turnover.............................................................. Error! Bookmark not defined. 2.6.6 Recruitment practices...................................................... Error! Bookmark not defined. 2.6.7 Retention strategies......................................................... Error! Bookmark not defined. 2.7 CONCLUSION....................................................................... Error! Bookmark not defined. CHAPTER 3 – RESEARCH METHODOLOGY ...................................... Error! Bookmark not defined. 3.1 RESEARCH PHILOSOPHY.................................................. Error! Bookmark not defined. 3.2 RESEARCH APPROACH ..................................................... Error! Bookmark not defined. 3.3 RESEARCH DESIGN ............................................................ Error! Bookmark not defined.
  • 6. 3.3.1 Sampling ......................................................................... Error! Bookmark not defined. 3.3.2 Data collection ................................................................ Error! Bookmark not defined. 3.4 RESEARCH TOOL................................................................ Error! Bookmark not defined. 3.5 ETHICS................................................................................... Error! Bookmark not defined. 3.6 LIMITATIONS TO RESEARCH........................................... Error! Bookmark not defined. 3.7 SUMMARY............................................................................ Error! Bookmark not defined. CHAPTER 4 – DATA ANALYSIS AND RESULTS................................ Error! Bookmark not defined. 4.1 INTRODUCTION .................................................................. Error! Bookmark not defined. 4.2 PRESENTATION OF DATA & ANALYSIS............................ Error! Bookmark not defined. 4.2.1 Demographic Results.......................................................... Error! Bookmark not defined. 4.2 MOTIVATIONAL FACTORS RESPONSES....................... Error! Bookmark not defined. 4.3 PREFERENCES FOR REWARDS........................................ Error! Bookmark not defined. CHAPTER 5 – INTEGRATIVE ANALYSIS AND DISCUSSION.......... Error! Bookmark not defined. 5.1 ANALYSIS OF DATA.............................................................. Error! Bookmark not defined. 5.1.1 Analysis according to Gender............................................. Error! Bookmark not defined. 5.1.2 Analysis according to Age group........................................ Error! Bookmark not defined. 5.2 FINANCIAL AND NON-FINANCIAL REWARDS ............... Error! Bookmark not defined. 5.3 ANALYSIS OF QUALITATIVE DATA................................... Error! Bookmark not defined. 5.3.1 Tesco’s Motivational Techniques ....................................... Error! Bookmark not defined. 5.3.2 Changes required by Tesco................................................. Error! Bookmark not defined. 5.3.3 Motivational Factors of Organisations................................ Error! Bookmark not defined. 5.4 CONCLUSION........................................................................... Error! Bookmark not defined. CHAPTER 6 – CONCLUSION AND RECOMMENDATIONS .............. Error! Bookmark not defined. 6.1 CONCLUSION....................................................................... Error! Bookmark not defined. 6.2 RECOMMENDATIONS........................................................ Error! Bookmark not defined. 6.3.1 Recommendations for Tesco............................................... Error! Bookmark not defined. 6.4 LIMITATIONS....................................................................... Error! Bookmark not defined. REFERENCES....................................................................................... Error! Bookmark not defined. APPENDIX – SURVEY QUESTIONNAIRE............................................ Error! Bookmark not defined.
  • 7. EXECUTIVE SUMMARY This dissertation focuses on the motivational strategies used by Tesco to retain its staff. This research begins with an introduction of the topic. In the first chapter the purpose and importance of retaining employees has been discussed. Organisations spend huge amount of money on recruitment, selection and training of employees. It is necessary for them that the employees stay with them for a considerable period of time, so that they can benefit out of their knowledge and skills. Similarly, it would be a great loss for the organisation if its employees leave job early. The organisation would have to spend the again on recruiting and training another employee on the vacant position. Moreover, others organisations would benefit from the skills of the trained employees of their rivals. Aim and objectives of the research are also outlined in the first chapter to give a direction to the dissertation. The second chapter gives the theoretical framework of this research in the literature review. In this chapter Herzberg’s Two Factor Theory has been discussed. The discussion is followed by the analysis of importance of intrinsic and extrinsic rewards in motivating employees. The literature review makes the backbone of the research and provides evidence for data collection and analysis. The next chapter focuses on the methodology used to carry out the research. Primary and secondary research has been carried out to study the aim and objectives of this research. Primary research data is collected through survey questionnaire, distributed among the employees of Tesco. Secondary data has been gathered from different sources including journals, books, online material, company’s official website and others. Secondary data has been used to analyse the results obtained from primary data. Moreover, the result will be calculated from both qualitative and quantitative data obtained from the primary research. Results will be calculated in the next chapter. Quantitative data will be calculated by using simple mathematical tools such as percentages, while the qualitative data will be analysed using the secondary research carried out in chapter two.
  • 8. In the last chapter, conclusion has been given and discussion carried out on the results calculated. It was concluded that although both intrinsic and extrinsic rewards are important for the motivation of employees, Tesco staff thinks that job security in current financial crisis is the most crucial. It was recommended that Tesco should focus on strategies that would provide sense of security to its staff at work.
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