Employee Retention Practices And Motivation Theories

Week 3 reading was related to motivation theories and explained the employee motivation affects on employee retention. Reading, examines how developing and implementing employee retention practices create a competitive advantage. This reading provides a connection between the effective employee retention practices and motivation theories as well as how these efforts serve as a strategy to increasing organizational performance. Also, making the case for financial importance in maintaining such practices, as its described in paper, Fitz-enz (1997) stated that the average company loses approximately $1 million with every 10 managerial and professional employees, a significant economic impact. HUMAN CAPITAL THEORY Quoting (Mueller, 1982) an â€Å"investment in skill-building would be more profitable and more likely to be undertaken the longer the period over which returns from the investment can accrue† (Mueller, 1982, p. 94). Employee retention is important in realizing a full return on investment in intellectual capital that equals the knowledge, skills, and attributes of each individual within an organization. comparing to definition of intellectual capital, Ulrich’s definition was simply â€Å"competence multiplied by commitment† (Ulrich’s 1998, p. 125), EMPLOYEE MOTIVATION THEORIES Motivation is descried in this theory as a means to connect personal gain and an overall company objective while generating an effort from the employee creating the impact with employeesShow MoreRelatedImproving Organization Retention Paper1446 Words   |  6 Pagesorganization retention In the past few years the state of Pennsylvania has made an effort to boot their economy by allowing gambling. One of the casinos that have made an impact is JC’s Casino and Resort. This establishment is state of the art in all aspects. 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