Employee Training and Development Essay: Retention & Rewards
The investment of a company or an organization in the employee training program is an essential component that is crucial and dynamic towards improved productivity and retention. The practice of training employees makes them experts in their specific work and provides the organizations with an opportunity to retain them for a higher performance scale. The practice occurs as a result of employees being better informed towards their career progress and future organizational goals. The criteria of development also improve the retention capacity of employees within the organization as a result of higher attraction which results in the act of retaining a high talent level (AlKarim, 2019). Some diverse strategies and techniques can be adopted to improve the retention and productivity of employees within the organization.
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The Role of Employee Retention as a Strategy to Enhance Performance and Productivity
Employee retention is one of the crucial techniques that most organizations use to improve their productivity and performance. Retention enhances the act of familiarity of the employees with the organization’s current goals and objectives. It enables them to exhibit a high-performance level as they understand all the market dynamics and the preferences for high-quality products and services within the organization. The act of high retention in the workplace encourages the aspect of high employee engagement (Al-Suraihi et al., 2021). When employees are highly engaged in the company’s operations, it becomes easy for them to exhibit a higher performance level crucial to productivity and competitive ability.
The engagement criteria also result in getting work done completely within the environment. When employees are engaged, they tend to improve consumer relationships within the market setting, which results in higher metrics in terms of competition (Skelton et al., 2019). The retention criteria also create the element of experienced employees being maintained in the organizational structure. When experienced employees are subjected to organizational operations, they tend to increase productivity at a higher level.
The Role of Total Rewards in Motivating Staff Performance
Rewards are some of the most crucial elements towards the aspect of motivating employees towards the act of adopting the best performance. Total rewards culture in organizations plays an essential role towards improved metrics of staff performance. The practice results in a high rate of employee retention within the organization. It is because the underlying culture motivates employees to stay loyal to the course and goals of the company. The total rewards strategy initiates the act of employee well-being within the organization. As a result, it generates a high level of retention that increases the performance of employees (Zafar et al., 2020). The act total rewards strategy also improves employees’ engagement and motivation toward their organizational roles.
Every employee and staff member aims to achieve the organization’s target to receive the reward. As a result, this leads to an improved performance level among the staff members, thus leading to higher productivity scales within the environment. The total reward strategy improves the retention capacity of employees within the environment, which alternatively increases the company’s productivity. The total reward strategy also strives to increase the organization’s competitive ability within the market. The culture of providing rewards to staff members makes the employees more competitive in the internal environment and overall increases the criteria of diverse performance metrics and productivity within the environment. The increased competitive ability of the organization emerging from the aspect of higher metrics of total reward practices increases the competitive ability of the organization on the market scale.
References
Al Karim, R. (2019). Impact of different training and development programs on employee performance in Bangladesh perspective. International Journal of Entrepreneurial Research, 2(1), 8–14. https://readersinsight.net/IJER/article/download/497/474
Al-Suraihi, W. A., Samikon, S. A., Al-Suraihi, A. H. A., & Ibrahim, I. (2021). Employee turnover: Causes, importance and retention strategies. European Journal of Business and Management Research, 6(3), 1-10. https://www.ejbmr.org/index.php/ejbmr/article/view/893
Skelton, A. R., Nattress, D., & Dwyer, R. J. (2019). Predicting manufacturing employee turnover intentions. Journal of Economics, Finance and Administrative Science. https://www.emerald.com/insight/content/doi/10.1108/JEFAS-07-2018-0069/full/html
Zafar, M., Sarwar, A., Zafar, A., & Sheeraz, A. (2020, July). Impact of Compensation Practices on Employee Job Performance: An Empirical Study. International Conference on Management Science and Engineering Management (pp. 315–324). Springer, Cham. https://www.researchgate.net/profile/Nuray-Akter/publication/336669790_Effect_of_Compensation_on_Job_Performance_An_Empirical_Study/links/5dab32a0a6fdccc99d91d6cc/Effect-of-Compensation-on-Job-Performance-An-Empirical-Study.pdf