Theoretical perspective 1: Individual expectation of career development
Research has shown that failure to meet employee’s career development expectations would lead to the loss of talented workers. (Harrison, 2016) When talented workers work hard and often perform better than their peers, they expect their employers to treat them better by supporting them in career advancement. However, when the organisation is not doing well, career advancement tends to fall short of their expectations which result in them believing that they could excel better in other organisation with their work ability. (Martin & Conrad, 2010)
Theoretical perspective 2: Difference in motivational needs and work values
In the 21st century, the ease of labour mobility has resulted in increasing workforce diversity. As workforce are increasingly diversified, the expectations between individuals and motivational needs differs. (Jyoti & Vijaya, 2015). Similarly, generational diversity displays different values and attitudes among the different generations. (Lee, 2013) For instance, the GenYs values learning and advancement in a job more while the GenXs values flexibility more. (Adkins & Rigoni, 2016) Therefore, with differing work values between generations, each generation has its unique work attitude and preference. (Dose, 1997) The increasing workforce diversity thus makes it hard for managers to retain employees as individuals are motivated differently, by the activities and outcomes that they value. (Maslow, 1943) However, contrary to popular beliefs, greater retention rate was found in more diverse workforce. (Leonard & Levine, 2010) A diverse workforce enhances employee’s morale as they feel valued for who they are and are accepted for their contributions. (Wilber, 2015) Hence, high morale foster a positive environment which result in greater talent retention. Theoretical Perspective 3: Lack of employee engagement Engagement in work is linked with feeling valued, secured, supported and respected. (Seppala & Cameron, 2015) It is crucial for managers to engage their employees as it provides a platform for managers to understand their concerns and needs. A research conducted by Mercer reported that employee engagement would retain talent as they have lower tendency to seek other job opportunities and a stronger want for their job (Smith, 2010) However, a study conducted by Accenture contradicts with the above mentioned as it reported that more than 43% of the highly engaged employees had weak or at best, lukewarm intentions to stay with their company. (Craig & DeSimone, 2011) Based on a global study, some reasons include, lack of development opportunities and employees finding their work too demanding. (Swank, 2016) Hence, despite being highly engaged, talented employees could still choose to leave. Interview Findings The first interviewee Mr Sum, has been a director of a SME for over 20 years. …show more content…
Mr Sum mentioned that the challenges he face in retaining talents includes them going back their homeland, comparison with peers in the same industry and failure to meet his employee’s expectations. In Mr Sum’s case, workforce diversity, mainly the difference in nationality creates communication barriers leading to unhappy working environment. He did not think that generational diversity poses a difficulty as all of them have a common goal which is to complete the project. Lastly, he believes that employee engagement is important but not sufficient in retaining his employees due to attractive offers by competitors. The second interviewee, has been with Coca Cola Beverage for 34 years but only 4 years as a warehouse manager. The second interviewee mentioned that the challenges he face in retaining talents includes limited opportunities for career progression, other attractive offers as well as employees having unlimited expectations, wants and needs. In the second interviewee case, workforce diversity is not a problem. Rather, he thinks that it would help in retaining the talent as it creates a fair and transparent …show more content…
In theory, high level of employee engagement result in lower tendency to leave and a stronger desire for their job. However in reality, even when the company actively engages their employees, employees still leave for better job opportunities. This is coherent with the study by Accenture that even highly engaged employees have weak intention to stay. This can be attributed to the desire for career advancement and the practicality of humans. Also, as highlighted by Mr Sum, employees tend to compare with peers from the same industry. Hence, they may feel undervalued in the