Submitted by: Submitted by harish0615
Views: 10
Words: 1529
Pages: 7
Category: Business and Industry
Date Submitted: 10/22/2015 09:15 AM
Internal Assignment for December 2014 Examination:
Course: Organizational Behavior
Program: PGDMM
Question 1: As a Manager how you will use organization behavior in practice in your
organization for :
a) Employee Retention
b) Job Satisfaction
c) Managing Diverse Workforce
Answer:
A) EMPLOYEE RETENTION:
Every employee is considered an asset to the company, hence retaining the right
candidate is vital for any company success in long term. Thus we need to have a
strategic approach to ensure the attrition is low. For that, let us begin with
listing out the main reasons for any employee leaving the organization.
Poor Salary/ Employee Benefits
Lack of work life balance.
Not satisfied with management.
Lack of training and development.
No career growth.
To overcome the above mentioned reasons ,we need to adopt the below methods :
1. Offering financial rewards:
Performance Based: Any individual would be ready to contribute a bit more than
his routine work if its going to be recognized or rewarded for. We need to create
a bonus structure wherein an employee is entitled to earn over and above his
salary which can be directly linked to his performance; which inturn would be a
win-win situation fpor the company as well.
Time Based: Also a part of the performance based bonus can be linked to
duration for which he sticks to the company; For example, 20% of annual bonus
earned to be linked to 5 years duration for which employee works in the
company; i.e If an employee stays in company for 5 years ,only then he/she
would be eligible to encash 20% of the bonus.
2. Fostering regular communication with Management:
One way to ensure an open communication with employees and management is
through regular
casual
meetings
wherein
every
individual gives
his
feedback/suggestions to effectively increase satisfaction levels. This discussion
in open forum will also help employee- manager...