TITLE - BUILDING A CULTURE OF
INNOVATION TO ATTRACT & RETAIN TALENT WITHIN ALFARA’A INDIA.
1.
Introduction
1.1.
Background
The
financial recession is distressing workers in the world employment and
retention appearing to obtain the main hit (Forgacs, 2009)? In the words of
Hebenstreit (2008) employee retention is a important cause of anxiety and cost
for each association, with the expenditure of employing and retaining a fresh
employee estimates to be anywhere from 200% of the previous employee’s yearly
salary.
Withers
(2001) have stated that retaining workers has not only been so serious, but
also the method to acquire the talent has also tainted noticeably. This is
since the way workers sight their job is different than was earlier, a reality
that has amplified command on associations to spend in worker preservation
programs. Companies require advance techniques and innovative tactics to
obtain, motivate, and retain talented employees.
The
Indian real estate and construction industry is facing a large amount of
turnover of the employees from one job to other in all the levels of employment
as in other sectors. Thus, these companies are not able to complete their
objectives because the people that were recruited leave the organization and
new employees have to be given training before joining.
The
Indian real estate segment assures to be a profitable purpose for overseas
financier into the nation. The Indian real estate sector, if distributed
correctly, could project the expansion of some other sectors in India during
its diffident and ahead connection.
Though,
there are probable restraints for conjugal and overseas reserves in India. Lack
of a single controller to watch trade practices existing in Indian real estate
marketplace is professed to be a threat for investors. The employment guiding
principle which are prepared by the Labour Ministry is continuously customized,
generating uncertainty. While the liberalization of employment standards,
important opportunities for recruitment have grown into real estate; but
accessibility of such talent is still unnatural. Development of the real estate
market will guide to combination of foreign venture and acceptance of worldwide
best performances by real estate Company Developers will find more planned, and
turn out to be clearer to gain chances of rising in the marketplace. The
obtainable pool of both accomplished & semi-skilled workers in the industry
is scarce; hence demand-supply is being affected and is impacting business high
time. Employee Retention planning helps associations to offer efficient workers
communiqué for the commitment to improve labor force an holds the key for commercial
initiatives. It also offers full maintenance for marketing-communication works
by serving the organization to make clients faithfulness by individuals and
placing the company’s exclusive goods and services in today’s packed out
market. When worker foliages in an organization for a straight participant,
there is constantly a possibility that could
take significant business planning and a covert that is a threat for
the opposition.
The
company chosen for the present research is ALFARA’A group; in that company the
researcher’s works as director of Indian operations. Currently the headquarters
are in United Arab Emirates and the yearly turnover of the companies is in
billions and the organization presently has about 22000 employees that are
spread throughout the world. The company is doing many works at the same time
like the construction business, aluminum and glass manufacturing, core
infrastructure.
1.2.
Objective
of the study
Employee
retention is commonly considered to mean the ability to maintain a stable workforce.
It is often linked to morale and to organizational productivity.
The
objective of the present study is to analyze the ways through which the
organization can retain talent for a minimum of three years. Further, the
research also aspires to conduct in depth analysis of methods and tactics
through which the organization attract quality talent.
1.3.
Research
questions
Based
on the research objective the following research questions have been framed:
Ø How
does the organization ensure that talent is retained for at least 3 years?
Ø How
can the organization convert itself into a Brand name which shall attract
quality talent?
2.
Literature
Review
2.1.
Defining
Employee Retention
Schuler
and Jackson (2006) describe retention as the whole thing an owner does to inspire
experienced and creative personnel to carry on functioning for the enterprise.
The
foremost aim of retention is to decrease undesirable intentional revenue by
treasured persons in the company. Both, efficient employment and retention
exertions interest persons to the company and also upsurge the possibility of
retaining the persons after they are appointed.
To read more…….
Contact
us -
Writekraft
Research & Publications LLP
www.writekraft.com
OR
Call us @ +91- 7753818181, 9838033084
Or
email us: writekraftuk@gmail.com
No comments:
Post a Comment