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INTRODUCTION

This document discusses employee retention and the factors that influence an organization's ability to retain employees. It notes that retaining knowledgeable employees is important for competitive advantage but that various job and personal stresses can cause employees to leave. Common factors that impact retention include lack of career development opportunities, heavy workloads, inconsistent schedules, inadequate compensation, and poor workplace culture and relationships. The document also indicates that millennials now make up a large portion of the workforce in countries like the Philippines and that understanding what motivates them is important for retaining millennial talent.

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Prince Darwin Aure
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80 views3 pages

INTRODUCTION

This document discusses employee retention and the factors that influence an organization's ability to retain employees. It notes that retaining knowledgeable employees is important for competitive advantage but that various job and personal stresses can cause employees to leave. Common factors that impact retention include lack of career development opportunities, heavy workloads, inconsistent schedules, inadequate compensation, and poor workplace culture and relationships. The document also indicates that millennials now make up a large portion of the workforce in countries like the Philippines and that understanding what motivates them is important for retaining millennial talent.

Uploaded by

Prince Darwin Aure
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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INTRODUCTION 

In today’s competitive environment, employees choose to leave their organizations for

various reasons. As the knowledge of employees has become highly important in gaining a

competitive advantage in today's business environment, organizations are trying to retain the best

employees. However, due to technological advancement the majority of businesses are becoming

more and more technology driven as a result of replacing employees with AI technologies, On

the other hand, technology requires human resources to function well and this circumstance does

not lessen the worth of employees in an organization. According to (Dyck, 2001) there have been

so many studies that were published about why some organization loses employees and some of

these are; the stress caused by the workplace that it is reasonable to assume that everyone,

especially those workers who gets easily get depressed and disappointed. Manaxgement takes

time to implement effective steps to relieve employees' stress since it continues to hang over

them. Several job stress factors can have an impact on an employee's quality of life and make it

difficult and stressful for them to do an assigned task, regardless of the environment. (Swanson

et al, 2008) states that a variety of factors, including personal, socioeconomic, and family issues,

can be also contribute to work stress affecting the performance and decision of the employee

whether to stay in their current organization.

Par 2 missing

According to Willis Towers Watson (2017), about 36% of employees in Malaysia

were likely to leave their organization. In addition, based on Malaysian media reports, retention

is indicated by a high turnover ratio, with up to 150,000 employees losing their jobs during the

epidemic as a result of the financial crisis and lockdown (Ibrahim et al., 2021).
In Vietnam, currently the employee turnover rate fluctuates through the years, this

situation shows that a lot of businesses in Vietnam are confused in finding an effective solution

to retain their employees.

Employees are viewed as a valuable asset in any organization. They are the ones who

have a significant impact on an organization's ability to function successfully. They contribute

their efforts and knowledge to the achievement of the organization's goals, objectives, and

missions. Organizations may find it easier to attract new employees, but retaining them may be

difficult given the variety of motivations that exist (Grobler, et al 2011). The goal of employee

retention is to prevent the business from losing skilled individuals, since this might have an

influence on the productivity of the firm. The annual budgets of businesses are also impacted by

high turnover since they must spend a lot of money finding and developing new personnel (Nas,

2013). However, there are several challenges that HR managers must overcome in order to keep

top performers in their teams (Mehta et al., 2014). The importance of HR and their retention has

been established. Firstly, because resources are scarce and, secondly, because of the competition

by businesses to have the best and most talented employees for their organization (Chambers et

al., 1998), and finally, because turnover also destroys customer confidence in the company

(Koys, 2001). Customers don’t want to teach their needs to the new employees. So, it is better to

retain employees who can retain customers. According to Fitz-Enz (1990) states that employee

commitment and retention are determined by a combination of factors rather than a single issue.

Several factors associated with employee retention have been identified in previous research.

The following factors are frequently mentioned: developmental opportunities and quality

supervision, job stress and colleague stress, compensation and appreciation for work done,

provision of challenging work, promotion and development opportunities, an appealing


environment within the organization, relationships with colleagues, work-life balance,

communication, and supervision.

In the Philippines alone, millennials make up a third of the country’s population, which

means that they already occupy a significant portion of the workforce. In fact, a survey from the

Philippines Statistics Authority indicated that the almost 50% of the Philippine workforce in

2015 is composed of millennials aged 15 to 34 years old. The researchers believe that

understanding the millennial workforce will yield essential data that will help companies to map

out what to do. (Medallon, 2020, p. 61).

Millennials, those in their 20s and 30s, are expected to represent nearly half of the global

workforce by 2020. In the Philippines, it was estimated in October 2015 that 47.1% of the more

than 66 million working Filipinos were millennials aged 15 to 34. This data suggests that

millennials are not only occupying a significant portion of the Philippine economy but are also

shaping the direction of it.

Since many organizations are losing their employees, the researchers decided to

conducted this study to understand and identify the factors why employees leaving their current

job or organization especially at Mc Donald’s Tagaytay and through rigorous research and study,

the researchers identified some factors affecting employees when it comes to employee retention

and some of this are fast pace job, workload, shifting schedule and store policies.

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