Benefits of Talent Management

Talent management is the full scope of HR processes to attract, onboard, develop, motivate, and retain high-performing employees. Talent management is aimed at improving business performance through practices that make employees more productive.

It could just include a simple interview of all employees conducted yearly, discussing their strengths and developmental needs. This could be utilized for mapping people against the future initiatives of the company and for succession planning.  

The main benefits of talent management are:

• Right Person in the right Job:Through a proper ascertainment of people skills and strengths, people decisions gain a strategic agenda. The skill or competency mapping allows you to take stock of skill inventories lying with the organization. This is especially important both from the perspective of the organization as well as the employee because the right person is deployed in the right position and employee productivity is increased. Also since there is a better alignment between an individual’s interests and his job profile the job satisfaction is increased.

• Retaining the top talent persons: Despite changes in the global economy, attrition remains a major concern of organizations. Retaining top talent is important to leadership and growth in the marketplace. Organisations that fail to retain their top talent are at the risk of losing out to competitors. The focus is now on charting employee retention programs and strategies to recruit, develop, retain and engage quality people. Employee growth in a career has to be taken care of, while succession planning is being performed those who are on the radar need to be kept in loop so that they know their performance is being rewarded.

• Better Hiring: The quality of an organization is the quality of workforce it possesses. The best way to have talent at the top is have talent at the bottom. No wonder then talent management programs and trainings, hiring assessments have become an integral aspect of HR processes nowadays.

• Understanding Employees Better: Employee assessments give deep insights to the management about their employees. Their development needs, career aspirations, strengths and weaknesses, abilities, likes and dislikes. It is easier therefore to determine what motivates whom and this helps a lot Job enrichment process.

• Better professional development decisions: When an organization gets to know who its high potential is, it becomes easier to invest in their professional development. Since development calls for investment decisions towards learning, training and development of the individual either for growth, succession planning, performance management etc, an organization remains bothered where to make this investment and talent management just make this easier for them.

Apart from this having a strong talent management culture also determines how organization rate their organizations as work places. In addition if employees are positive about the talent management practices of the organization, they are more likely to have confidence in the future of their organization. The resultant is a workforce that is more committed and engaged determined to outperform their competitors and ensure a leadership position in the market for their organization.

(https://www.youtube.com/watch?v=R7MYMVTQ_rg)

References 

What is Talent Management. (2016). YouTube. 

Managementstudyguide.com. (2015). Benefits of Talent Management. [online]

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Benefits of a Performance Management System

A good performance management system always works in improving the performance of any company or an organization. An effective performance management system (PMS) plays an important role in managing the overall performance. Performance Management System contributes in organizational benefits, employee benefits and has a positive influence on the job satisfaction and loyalty of the employees. A well managed performance management system has clearly defined goals and regular assessment of performance of all individual employees and hence helps in developing training and development plans required for the employees.

A well managed performance management system plays an important role in managing the performance in an organization by:

• Employees understand the importance of their contribution towards organizational goals and objectives.
• Each employee understands what is expected from them and ascertaining whether the employees possess the skills required to perform the duties.
• Ensuring proper alignment of objectives and helping in communication throughout the organization
• Helps in a cordial relationship between an individual employee and the manager based on trust.
• It also provides scope and opportunity for incentives, rewards, performance and career development.
• Based on the output of the employees performance management system helps to discover the training and development needs for the employees.
• It helps in strengthening the bond between management and subordinates.

Performance management practices can have a positive influence on the job satisfaction and employee loyalty by:

• Regularly providing open and transparent feedbacks to the employees.
• Establishing a clear link between performance and compensation
• Providing sufficient learning and development opportunities by representing the employees in leadership development programmes, etc.
• Evaluating performance and distributing incentives and rewards on a fair and equated basis.
• Establishing clear performance objectives by facilitating an open communication and a joint dialogue.
• Recognizing and rewarding good performance in an organization.
• Providing maximum opportunities for career growth in the organization

Given below are the few Importance factors of performance management system

• Performance management system helps in reducing conflicts among peers and the subordinates and thus helps in improving the performance.
• All the employees including supervisor and managers would be highly motivated.
• It helps to improve the organizational performance and helps in retaining employees and improving their productivity.
• Motivated employees would be more loyal and thus management will have valuable employees
• Performance management system helps in achieving job satisfaction
• It provides ample learning opportunity and helps in career growth of the employees.
• The employees will grow in maturity and responsibility if their efforts are judged
• An employee who gives low output can be spotted and dismissed with more certainty. Similarly high performing candidate can be rewarded which would be more fair and accurate.

(https://www.youtube.com/watch?v=RhAJkhIFFno)

References

Why is Performance Management so important? (2014). YouTube. 

HrHelpboard. (n.d.). Benefits and Importance of Performance Management System. [online]

Managementstudyguide.com. (2015). Benefits of a Performance Management System. [online] 

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How to Improve Employee Satisfaction

Employee satisfaction plays an essential role in motivating the employees to deliver their level best and also leads to a positive ambience at the workplace.

Let us go through some ways how improve employee satisfaction.

Employees should be assigned work as per their expertise, interest area and specialization.

 If you expect a marketing guy to perform in an accounts profile, he will definitely get demotivated, which would eventually affect his performance. Discuss with the employees at the time of their joining only as to what profile would suit them the most to avoid confusions later on. Key responsibility areas should be communicated to the employees very clearly from day one. If employees work on something which they are best at, not only they would be happy and satisfied but also would deliver better results.

No employee should be overburdened. Work allocation has to be equally distributed among all. 

Why should only one employee do everything while others just come, enjoy and go back home? Favouritsm and partialities have no place in the professional world. Managers should not give less work to someone just because he is your friend and you like him. This way, others who actually end up doing more work eventually lose interest and start looking for better opportunities.

 Encourage employees to talk to each other, discuss among themselves and work as a team not for themselves but for the organization.

 It the responsibility of the management to make their employees realize that they are all part of a single family and it is not nice to fight amongst themselves and create unnecessary problems for each other. Let them have their lunch together or go out for small get togethers once in a while. This way, they seldom find office monotonous, are satisfied with their jobs and also work with full dedication.

Employees are unsatisfied the most when their voices are not heard. It might be a small problem for you but for the other person, it can be a major cause of concern. Grievances need to be addressed on an immediate basis. It is the responsibility of the human resource professionals to sit with their employees on a regular basis and find out whether they are satisfied with their jobs or not? Let them come out with their problems.

Give considerable growth opportunities to  every employees.

Employees lose interest in work, the moment they have nothing new to do. Give them new work allocations, new challenges, new roles so that they get to learn something interesting every day. Do not unnecessarily pressurize them for unrealistic targets. Do not interfere much and let them work in their own way. Guide them whenever required.

Not appreciating the employees when they have performed well leads to dissatisfaction and negativity in them. The credit should not always go to the top management and team leaders but to the all employees as well.

Managers should not forget that their role is not to shout on their subordinates but to handhold them and stand by them even in the worst situations. Majority of the employees are frustrated because they do not have an understanding BOSS.

Nothing works better than rewarding employees suitably and releasing their salaries on time.

Most of the times, employees have a problem because they do not get their incentives and payments when they require the most. Why would an individual slog for an entire day if he does not require money? Do not create too much of a problem in clearing their bills.

Do not exploit them. Treat them with utmost respect and care.

References

www.managementstudyguide.com. (2015.). Ways to Improve Employee Satisfaction. [online] 

Scribd. (n.d.). STRATEGIES OF ESCALATING EMPLOYEE SATISFACTION AMONG THE EMPLOYEES OF ANKUR CHEMICALS, GANDHIDHAM, GUJARAT | Job Satisfaction | Employment. [online]

Importance of Knowing Employees

Knowing employees plays a crucial role in motivating employees to deliver their level best. Knowing employees helps managers to understand their needs and expectations from the organization.

Managers need to know whether their team members are happy with their jobs or not? Do not make your employees feel ignored or left out. Believe me; they would hardly contribute towards the organization. Unless and until they feel themselves indispensable for the organization, they would never take things seriously. In such cases, individuals attend office just to receive their monthly pay checks and treat work as a mere source of burden.

Managers need to understand that employees need to be appreciated for them to perform consistently. Let them feel special. Problems arise when managers do not acknowledge the hard work of employees. Remember; you are not paid for just sitting in your cabin and passing on instructions to your team members. There are managers who do not even know their team members properly. Sit with your team members on a regular basis to know them, evaluate their work and provide correct feedbacks. As a manager, it is your responsibility to guide your team members and help them achieve their targets within the stipulated time frame. Know which all team members are actually contributing towards the organization and who all are just coming to have fun at work place? Appreciate employees who perform extraordinarily. Reward them suitably. Employees feel happy and proud to be a part of the organization when their performances are noticed.

Knowing employees well leads to a healthy work culture. When employees know each other well, they seldom fight and criticize fellow workers. Conflicts and misunderstandings not only spoil the ambience in the workplace but also increase the stress levels of individuals. Employees feel frustrated and find it extremely difficult to deliver results under such circumstances. Do not stop your employees from talking to individuals representing other departments. What is the problem if people have friends at the workplace? Everyone is mature enough to understand that there are certain things which are confidential and should not be disclosed. Team managers should also discuss an individual’s family, his/her personal life, relatives and so on once in a while but yes, do not interfere too much in their personal lives. Do not ask something which is too personal for an employee. Employees feel happy when managers connect with them on a personal level. They feel like coming to work daily, face challenges with a smile and also constantly strive hard to take their organization to the top. Make your employees feel responsible for the organization. Let them understand that their projects or job responsibilities are just like their own babies and they need to be sincere and take good care of the same.

Managers need to know the names of all their team members and understand where all their team members are lacking and what all initiatives would make them a better professional. Knowing employees well leads to better results and better productivity. When managers understand their employees well and vice a versa, there is hardly any problem and organizations become a better place to work

References

managementstudyguide.com. (2015). Importance of Knowing Employees. [online] .

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Employee Retention & Employee Retention Strategies

What is Employee Retention ?

Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time. Every organization invests time and money to groom a new joinee, make him a corporate ready material and bring him at par with the existing employees. The organization is completely at loss when the employees leave their job once they are fully trained. Employee retention takes into account the various measures taken so that an individual stays in an organization for the maximum period of time.

Why do Employees Leave ?

Research says that most of the employees leave an organization out of frustration and constant friction with their superiors or other team members. In some cases low salary, lack of growth prospects and motivation compel an employee to look for a change. The management must try its level best to retain those employees who are really important for the system and are known to be effective contributors.

It is the responsibility of the line managers as well as the management to ensure that the employees are satisfied with their roles and responsibilities and the job is offering them a new challenge and learning every day.

Employee Retention Strategies

For an organization to do well and earn profits it is essential that the high potential employees stick to it for a longer duration and contribute effectively. The employees who spend a considerable amount of time tend to be loyal and committed towards the management and always decide in favour of the organization. When you meet someone, there is hardly any attachment in the beginning, but as the friendship matures, a sense of loyalty and trust develops. In the same way, when an individual spends a good amount of time in an organization, he gets emotionally bonded to it and strives hard for furthering the brand image of the organization.

The management can’t completely put a full stop to the process of employees quitting their jobs but can control it to a large extent.

Let us go through some strategies to retain an individual:

• An employee looks for a change when his job becomes monotonous and does not offer anything new. It is essential for everyone to enjoy whatever he does. The responsibilities must be delegated according to the individual’s specialization and interests. It is the responsibility of the team leader to assign challenging work to his team members for them to enjoy work and do not treat it as a burden. Performance reviews are important to find out whether the employees are really happy with their work or not.

• Constant disputes among employees encourage them to go for a change. Conflicts must be avoided to maintain the decorum of the place and avoid spreading negativity around. Promote activities which bring the employees closer. Organize outdoor picnics, informal get together for the employees to know each other better and strengthen the bond among themselves. Let them make friends at the workplace whom they can really trust. Friendship among employees is one strong factor which helps to retain employees. Individuals who have reliable friends at the workplace are reluctant to move on for the sake of friendship. No one likes to leave an organization where he gets mental peace. It is essential to have a cordial environment at the workplace.

• The human resource department must ensure that it is hiring the right candidate. Frustration crops up whenever there is a mismatch. A finance professional if is hired for a marketing profile would definitely end up being frustrated and look for a change. The right candidate must be hired for the right profile. While recruiting a new candidate, one should also check his track record. An individual who has changed his previous jobs frequently would also not stick to the present one and thus should not be hired.

• Employee recognition is one of the most important factors which go a long way in retaining employees. Nothing works better than appreciating the employees. Their hard work must be acknowledged. Monetary benefits such as incentives, perks, cash prize also motivate the employees to a large extent and they prefer sticking to the organization. The performers must have an upper edge and should get a special treatment from the management.

• Performance appraisals are also important for an employee to stay motivated and avoid looking for a change. The salary hike should be directly proportional to the hard work put by the employees. Partiality must be avoided as it demotivates the talented ones and prompt them to look for a better opportunity.

• The salary of the employees must be discussed at the time of the interview. The components of the salary must be transparent and thoroughly discussed with the individuals at the time of joining to avoid confusions later. The individuals should be made to join only when the salary as well as other terms and conditions are acceptable to them.

• The company’s rules and regulations should be made to benefit the employees. They should be employee friendly. Allow them to take a leave on their birthdays or come a little late once or twice in a month. It is important for the management to understand the employees to gain their trust and confidence. The consistent performers must also have a say in the company’s decisions for them to feel important.

(https://www.youtube.com/watch?v=dBmrSCawhc0)

References

Managementstudyguide.com. (2015). Employee Retention - Meaning and Important Concepts. [online]

Managementstudyguide.com. (2015). Employee Retention Strategies. [online] 

AgCareers (2010). Employee Retention Strategies. YouTube. [Accessed 17 Jul. 2020]. 

‘PEOPLE LEAVE BOSSES NOT ORGANISATIONS’

An employee is a person who sell his knowledge, skills, attitudes, and behaviours for an organisation and with this he expects a personal growth as well as career growth whit the organisation to have better returns. Thus, he works to perform given and agreed work for the company for a given salary and other benefits.

As stated by Alderfer (1972), in his ERG theory people have three categories of needs: Existence needs, Relatedness needs, and Growth needs. As long as such needs are satisfied employees will motivate to stay in the organisation and mainly relatedness and growth needs are combined with the behaviour of his supervisor. Relatedness needs are the need of acceptance and understanding whereas growth needs are the opportunities exist to grow. The acceptance and understanding by the supervisor are very important to an employee and though the opportunities are available the initial apprise of an employee will be done by the supervisor. A better understanding and work apprise about the employee of his supervisor will leads to motivate an employee or make him unsatisfied which result him to leave the organisation. The demotivation generates through the supervisor not the organisation and therefore the employee is leaving the organisation because of the supervisor not because of the organisation. Thus, the reason for the employee to leave is the behaviour of the supervisor.

Further Mayo (2006), and Cook (2008) have stated that most of the employees leave the organisation due to the relationship with the supervisor and thus this indicates that the employees are leaving because of the behaviour of the supervisors and not because of the organisation and therefore the believing of my friend is correct though it is not the only reason for employees to leva an organisation whereas most of the reasons are affected by the supervisors of the organisation.

Further this has been practicing by the author in practice at the organisations that author has worked. Most of the time the employees leave the organisation just after a new supervisor or a manager has recruit for the department or the strategic business unit. Almost all the employees that leave the organisation are the employees with reasonable experience in the organisation and the main reason that they have highlighted was that they are not able to work with the mew manager or their supervisor. The reason may be either the newly recruit manager was not able to understand the existing employees or the employees has failed to understand the manager. Anyway the reason for the employees to leave the organisation is the boss not the organisation.

Apart from that once a supervisor or a manager leave from an organisation to another, it has been identified that most of the time the supervisor who left the company, head hunt some of his subordinates’ wo worked with him in the previous organisation and the reason for those employees to leave the existing organisation was not the problems at the organisation but the relationship that he had with the previous supervisor. Thus,it is clear that most of the time people leave bosses not the organisations.

(https://www.youtube.com/watch?v=klGuS0iiCE8) 

References

Alderfer, C. (1972), Existence, Relatedness, and Growth, New York; The Free Press.

Cook, S. (2008) The Essential Guide to Employee Engagement: Better Business Performance Through Staff Satisfaction, London; Kogan Page Limited.

Mayo, A. (2006), The Human Value of the Enterprise: Valuing People as Assets: Monitoring, Measuring, Managing, London, Nicholas Brealey International

‌www.youtube.com. (n.d.). YouTube. [online] Available at: https://www.youtube.com/watch?v=klGuS0iiCE8 [Accessed 17 Jul. 2020].

ALL ABOUT TRAINING AND DEVELOPMENT

Training has defined as one of the methods that organisations can consider to encourage learning in the organisation out of many methods that should encourage learning (Renolds, et al., 2002). Further training is considering as a formal method that organisations can consider to implant required new knowledge and skills among the employees by the organisation (Armstrong, 2009). Training facilitates learning process of knowledge, skills, competencies, and behaviours which required to conduct the job-related assignments which such trainings should planned efforts of the organisation (Noe, et al., 2012). Further they argue that focus of training is to master such required knowledge, skills, and behaviours of the employees which accentuated through training and apply such in the day to day activities of the employees as well as the future activities that required and demand by the organisation (Noe, et al., 2012). Thus, the arguments by many schoolers emphasise that training is the main tool that the organisations should provide new knowledge, skills, and competencies for the employees which leads to a continues learning process that leads for the development of the employees which development is the process that gaining ability to perform better in current job assignments as well as future assignments that will held responsible by the employee. Though training helps for the development process there are many differences between training and human resource development (Fleisher, 2004) mainly in the focus, time orientation and even in measures of effectiveness. The focus of training is to demonstrate processes and techniques to learn practices, actions, and behaviours whereas development focus on expanding capacities of the employees while expanding skills in which training is a short-term process while development considered as a long-term process. Further the effectiveness measures of training is through appraisals, certifications, getting through exams, and cost benefit analysis whereas effectiveness measures of development are competitive advantages which are based on human resources, availability of required skills with in an organisation at needed, and ability to assign higher authorities to the existing employees or to promote employees for higher grades without recruiting or seeking skills from outside (Mathis & Jackson, 2008). Further the researchers have clearly identified differences between the training and learning whereas learning is a process which help the individuals to implant new knowledge, process, capabilities, and skills whereas training is one of the methods that facilitate learning (Renolds, et al., 2002). Further learning lies on the side of the employee whereas training lies on the side of the organisation which organisation provides training to enhance the learning process of the individual employee (Sloman, 2003). Thus, today organisations provide training to facilitate learning process of the employees which further focus and help to develop the employees. Therefore, organisations should identify the development needs of the employees to perform their current duties as well as the future needs of the organisation and encourage learning through providing proper and planed trainings. Further it was stated that learning culture will enforce a better learning among the members in the said culture where organisations should have a learning culture in which learning culture is defined as medium which provide growth to the employees and promote positive behaviour among the employees including learning (Renolds, 2004). Further he stated that such cultures have empowerment, self-managed learning, long-term capacity construction instead of supervision, instruction, and shot period fixes (Renolds, 2004). Thus, it has become very important for the companies to consider providing opportunities for the employees to conduct an own commitment as well as provide sufficient support for learning (Renolds, 2004).

It has become very important process that designing of trainings for the employees since such should encourage the learning process of the employees and their development as required by the organisation. The training design process has defined as a systematic process which develop required training programs (Noe, et al., 2012) and Instructional System Design (ISD) and ADDIE model (analysis, design, development, implementation, evaluation) can consider in developing proper trainings (Noe, 2010). Even though Noe, et al. (2012) argued that said two processes which mostly consider can be further developed and introduced a process that consisting with six steps that can consider in developing trainings. Need assessment is the first step that consist with assessing and determining the training needs of the organisation whereas such can identify through analysing the skills gaps and training needs of the organisation, each individual, and the tasks of the organisation where the organisation will be able to understand the competency needs of the organisation, the available competencies of the employees and their development requirement as well as the skills which need to perform each task of the organisation. The second step consisting with ensuring the readiness and the motivation of the employees for training where the development is mainly depending on the learning process of the employees and it is important or the employees to have a higher motivation for own learnings and training only can support the process where ensuring motivation of the employees for trainings will create a higher success in the process which learning culture of the organisation will support the process. Creating an environment for learning is the third step which they discussed whereas this focus on the factors which are necessary for the training as well as learning.Further, such will include objective identification and training outcomes, materials, practices, feedbacks, observations, and coordination and administration of training programs. The fourth step in the application of trainings by the trainees which indicates the learning effectiveness and behavioural effectiveness of the trainees where in the step it is important to introduce self-management strategies as well as peer and manager support for the trainees to increase their learning process.  The fifth step is selecting proper training method that includes selecting the best method out of group methods, hands on methods, and presentational methods. The sixth and final step is evaluating training programs which includes cost benefit analysis as well as outcomes of the trainings.

(https://www.youtube.com/watch?v=Qy3DBeXInF0)

References

Armstrong, M., (2009). Armstrong’s Handbook of Human Resources Management Practice. 11th ed. London: Kogan Page.

Fleisher, C. S., (2004). Competitive Intelligence Education: Competencies, Sources, and Trends. Information Management Journal, 38(2), pp. 56-64.

Mathis, R. L. & Jackson, J. H., (2008). Human Resource Management. 12th ed. Mason: Thomson Southr-Western.

Noe, R., (2010). Employee Training and Development. 5th ed. New Tork: McGraw-Hill.

Noe, R. A., Hollenbeck, J. R., Gerhart , B. & Wright, P. M., (2012). Human Resource Management: Gaining a Competitive Adavantage. 8th ed. New York: McGraw-Hill.

Renolds, J., (2004). Helping People Learn. London: CIPM.

Renolds, J., Caley, L. & Mason, R., (2002). How Do People Learn. London: CIPM.

Sloman, M., (2003). E-learning: stepping up the learning curve. Impact,, Volume January, pp. 16-17.

Hrhelp Board (2018). Training & Development of Employees in HRM- Hrhelpboard. YouTube. Available at: https://www.youtube.com/watch?v=Qy3DBeXInF0 [Accessed 17 Jul. 2020].

COMPENSATION AND BENEFITS

Compensation and benefits are the rewards that an employee get from the organisation and Armstrong (2009), has defined reward management as the process which articulate and implement suitable policies and strategies to reword the employees based on their value to the organisation with fair, equal, and continuous manner. Thus, it is important for the organisation to value the employees and this can be done through evaluating their performances. Further to have fair, equal, and continuous process the performance management process should be also should be a fair, equal, and continuous process. Further Weiss and Hartle(1997), have stated that performance management as a process which creates a common understanding about what and how to achieve where the employees will managed in a manner to increase the probability of achieving success.

With a proper performance management system, the organisation can have a clear understanding on the dimensions which the employee will value with a common understanding. The performances can be evaluated against the agreed achievements and due to the fact that the all the employees will evaluate under this process the organisation can have an equality on managing the performances of employees. Further the fairness will create through the common understanding of the employee and the employer where both are agreed on duties for a specific period of time. Since the performance management process is conducted annually against the agreed tasks the continuity will be secure. Therefore, it is important for a company to have a proper performance management system which leads to create appropriate recognition and rewards of the employees.

Based on the expectancy theories of motivation developed by Vroom (1964) and Porter and Lawler (1968), it was stated that motivation or the efforts of an employee is depending on the ability to achieve the given task and the value of the reward that the employee will get by achieving the task. Therefore, there is a link between the task and the reward whereas the task should be achievable and the reward should be worth enough to put such effort where in such a situation the employee will be motivated. There for it is clear that if the employee will get a reward which is worth to have and the efforts that he has to put in getting the reward is achievable the employee will try as much as possible to get the reward whereas the appropriate compensations and rewards will motivate the employee and increase the employee engagement.

Even though the compensation and benefits motivate the employee that is not the only way and the most suitable way to motivate the employees to reduce employee attrition. At a time that the employee feels that the reward is not sufficient or the task is not possible to achieve will lead to reduce the motivation and the level of employee engagement with in the employee and thus it is important to identify other factors that have an effect on motivation of an employee. O’Neal (1998), has stated that organisation should not consider only rewards but should consider in total reward where total reward consists with everything that an employee values in an employment relationship with the employer. Further WorldatWork (2000), has stated that total rewards are the all the tools which are available with an organisation that can be used to attract, retain, motivate and satisfy employees.

Further Manus and Graham (2003), have defined total rewards as all the types of rewards which are direct as well as indirect and intrinsic as well as extrinsic which further can be consider as financial and non-financial rewards where the financial rewards are the transactional rewards and non-financial rewards are relational rewards.

Figure1: The components of total reward

(Source: Adopted from Armstrong, M. (2009), Armstrong’s Handbook of Human Resources Management Practice, 11^th Edition, London; Kogan Page, pp. 743)

Thus it is clear that compensation and benefits are not sufficient and are not the only way of motivating an employee and reduce attrition but the organisations should consider the non-financial intrinsic rewards such as learning and development where the employee feels the organisation always take care to offer opportunities for him to learn and develop within the organisation and to have an enjoyable working environment for employee to feel better in working such an environment.

References

Armstrong, M. (2009), Armstrong’s Handbook of Human Resources Management Practice, 11^th Edition, London, Kogan Page.

Manus, T. M. & Graham, M. D. (2003), Creating a Total Rewards Strategy, New York; American Management Association.

O’Neal, S. (1998), The phenomenon of total rewards, ACA Journal, 7 (3), pp 8–14.

Porter, L. W. & Lawler, E. E. (1968), Managerial Attitudes and Performance, Homewood; Irwin-Dorsey.

Vroom, V (1964) Work and Motivation, New York; Wiley.

Weiss, T. B. &Hartle, F. (1997), Re-engineering Performance Management, Breakthroughs in achievingstrategy through people, Boca Raton; St Lucie Press.

WorldatWork (2000), Total Rewards: From Strategy to Implementation, Scottsdale; WorldatWork.